The study unveils how organizations can create
commercial success and positive impact when they put purpose into
practice
NEW
YORK, Sept. 17, 2024 /PRNewswire/ -- For
years CEOs have found themselves caught between purpose-conscious
consumers and "anti-woke" stakeholders. If purpose can be reliably
tied to profit, business leaders can align capitalism with societal
benefit for the long term and acting in line with your
organization's purpose can move beyond being seen as a cultural
fad, and become an embedded engine of value and progress for
everyone. For the first time, co:collective, a leading strategic
and creative transformation consultancy for purpose-led businesses,
is unveiling the findings of a proprietary research study examining
the ways in which organizations like The New
York Times, Genexa, Johnson & Johnson, HP and Yeti have
used purpose to outpace the growth rate of the S&P over the
past 5 years.
"What we uncovered is a new model for
purpose-powered growth: a Generative Business," said Rosemarie Ryan, co-founder and CEO at
co:collective.
Co: spoke to c-suite leaders who put purpose into practice to
find how they really do it and what value it creates. Together the
organizations surveyed represent a $589bn market cap and 416,000
employees.
"What we uncovered is a new model for purpose-powered growth: a
Generative Business," said Rosemarie
Ryan, co-founder and CEO at co:collective. "These generative
organizations that put purpose into practice are able to unlock
opportunities which create conditions for success that purposeless
organizations would find hard to access. This is the start of an
exciting journey to codify the mechanisms through which purpose
delivers business value so that managers can learn and apply them,
turning more and more businesses into generative organizations,"
Ryan added.
Co: uncovered a consistent pattern where purpose allows
businesses to create more value and unlock opportunities and create
conditions for success. Generative companies saw an average of
+520% growth over the past 5 years.
"Success is tied to the altitude of the purpose", said
Ty Montague, Chief Purpose Officer
at co:collective. "It must be directly connected to the intent
behind the core business and the ways in which the business
operates. This is how true value creation is unlocked."
Throughout the study co:collective identified seven primary
drivers of purpose-powered growth enabling top organizations to
become generative.
Seven Drivers of Purpose-Powered Growth:
- Focus: Common reference point meaning better resource
allocation, ROI and faster decision-making capabilities;
- Innovation: Purpose is a rubric for invention and
differentiation;
- Alliances: Stronger partnerships rooted in a common
reference point;
- Impact: A larger total addressable market and
opportunities;
- Talent: Hiring and retaining the best talent;
- Demand: Stronger, more invested customer relationships
with a strong differentiator; and
- Longevity: Overcome hardships through better crisis and
risk management.
To download the full research study,
visit https://cocollective.com/generative-business-project/
About co:collective
co: is an independent strategy and creative transformation
partner for purpose-led businesses. We believe today's most
successful organizations infuse their purpose into everything they
do to generate more value, for more people, more sustainably. We
call businesses that operate this way generative.
At co:collective we design brands, experiences, and
organizations in order to transform who they are, what they do, and
how they show up in the world. We lead businesses through this
transformation so they can unlock more possibilities for themselves
and the stakeholders they serve.
Since 2010, co: has helped hundreds of businesses uncover their
purpose and learn how to live it – from Fortune 50 brands and
beloved consumer icons to non-profits, innovative startups and
beyond.
https://cocollective.com/
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SOURCE co:collective