As modern consumers shift their buying habits and the market increasingly demands businesses behave responsibly, what’s stopping companies from becoming more purposeful and impact-driven? Martin Bunch dispels some misconceptions in a new piece for Business Reporter’s Future of Responsible Business series.
“Today’s consumers are shifting their buying habits. A new wave of ‘conscious consumerism’ has seen an upward trend in buying decisions informed by whether a brand has a positive social and environmental impact. Whether it’s a person buying for themselves or a business procuring goods or services, it will be those purposeful brands that can demonstrate a genuinely positive impact that will benefit from this shift in buying behaviour. Businesses that carry on ‘business as usual’ will increasingly find their goods and services are more likely to be left on the shelves.”
Some businesses have concerns that you can only pursue purpose and impact at the expense of profit. Others dismiss corporate purpose as a fad., or insist the current system works. The article goes on to bust these misunderstandings about purpose and impact and outlines the benefits of pursuing a purpose and impact agenda.