I spend a lot of my time reflecting on the notion of social purpose.
I've worked for organizations of all shapes and sizes in both the charitable and the business sector. In the charitable sector, purpose is intrinsic to our work. In Canada, at least, an organization's objects must be distinctly charitable in order for it to receive and maintain charitable status. A charity's mission, vision and purpose are deeply tied to fostering a better world. Advancing food security, housing the unhoused, educating the young…all are distinctly tied to making our communities stronger and our world better. But for businesses, both large and small, purpose is nuanced and more complex. If social purpose is tied to the betterment of society, then what role is a business to play? Is business merely an economic engine, or can business truly be a force for good?
Let's take a business…any business. As I write, I'm sitting at my desk staring at a reusable water bottle. That bottle was manufactured, distributed and sold by a business. So why is it important for this bottle business to have a social purpose? In this case, the product itself may generate societal wins – reducing waste, stopping pollution, providing hydration – but purpose is more than that. It's about tying the company's very existence to a better world. Everything that a truly purpose-led company does must be in service of its social purpose.
Let's take a real-world example. Ocean Bottle is a real water bottle company. Its social purpose is to stop ocean plastic pollution while providing sustainable livelihoods. Why does Ocean Bottle exist? Is it to sell water bottles and generate profit? While generating revenue and making money are a purpose, they are NOT a social purpose. They don't benefit the planet. And they don't, in and of themselves, make this world a better place. While revenue and profit are inextricably linked to the viability of the organization, they don't define its true reason for existing. Financial return is not Ocean Bottle's purpose.
Ocean Bottle's social purpose is tied to pollution reduction, which is inextricably linked to a better planet and a better world. These objectives don't undermine its need to remain financially viable. In fact, you could strongly argue they contribute to it. After all, who doesn't want to buy from, or work for, a company with a deep social purpose? Companies with a social purpose will typically build a framework around that purpose, ensuring that they treat their employees, procure materials, and market their products in an ethical, moral and equitable manner. But each decision the company makes is in service of its social purpose, in this case of reducing waste. That these decisions also generate profits and lead to ethical behaviour is a product of how the company operates, but not why.
Social purpose, like individual purpose, is complex. How can we boil down our reason for existing into a single sentence? If you've ever tried to articulate your personal purpose in life, you know it's an arduous exercise rooted in soul searching and deep self-reflection. This kind of soul-finding journey is as difficult for businesses as it is for individuals….and it should be. But once you land on your purpose, once you truly know the reason why you exist, everything else becomes clear. Purpose is the compass for our activities, our decisions and our motivations. And so my message to all of you, businesses and individuals alike. Find your purpose. When you do, you will never look back.
