The 6 great examples of Purposeful Business having a meaningful purpose to insure that your company is about more than just serving up profits to stakeholders means people can generally connect with your organization. Because they believe in what you're striving for in the world. In "BERNARD MARR" book business trends in practice I look at the 25 transformative forces and being a business with the purpose as one of those trends and research shows clear benefits of having a purpose driven organization. Deloitte reported that companies that lead with the purpose show higher market share gains, achieved higher customer and employee satisfaction and grow 3 times faster than their competitors.
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The strength of purpose study which surveyed 8000 companies in 8 markets asked people to rate 75 different brands based on the strength of their purpose and the result of the study showed that when brands have a strong Purpose consumers were 4 times more likely to trust the brand 4 times more likely to buy from the brand and 4.5 times more likely to recommend the brand to others. On top of that 83℅ of people said that companies should only earn a profit if they also have a positive impact in the world, so purpose is particularly important to younger consumers, especially gens and millennials, so let's look at some of the great examples that I found of Purposeful Businesses.
1. The first one is THE BODY SHOP which has the goal to help 40000 economically vulnerable people around the world to access work and as part as part of the company's fight for a fairer and more beautiful world and they also want to ensure that 100℅ of their natural ingredients are sustainably sourced and traceable as well as built as 75 million square meters of wildlife corridors to help endangered species to thrive.
2. And then we have the CHEEKY PANDA company which is a toilet paper manufacturer that was created to provide an alternative to the standard tree based toilet paper we normally use. Cheeky panda product is made from sustainable bamboo which grows incredibly fast and without any need for fertilizers and the paper also doesn't contain any bleach or chlorine.
3. Then we have the DOVE SELF-ESTEEM PROJECT which helps teachers parents and mentors a deliver self esteem education to 20 millions younger people and Dove real beauty ad campaign that featured models of different body shapes and sizes have struck an important chord with women and girls all over the world.
4. Outdoor apparel brand TIMBERLAND is another example and it works hard to connect employees everyday work to a shared purpose to inspire and equip the work to step outside work together and make it better and they have partnered with planet water foundation for example to install clean water towers in work a communities that lacked access to clean drinking water.
5. Than there SAVERS a thrift store chain with locations in the US Canada and Australia the organization purchases its products from non profit organizations who have received the items as donations and then sells them at affordable rates at their brick and mortar stores and say that's recycled any items that don't sell and also partners with a number of nonprofits to create jobs assist people with disabilities and support at risk children.
6. In the finetech world we have AUDEN this company takes one of the most toxic financial services payday loans. Auden is a socially responsible financial service company offering more affordable personal loans and financial services to people who have been underserved and excluded over charge by mainstream financial services provided to us.
These are hopefully inspiring examples I would love to hear from you so feel free to share any other examples of your favorite Purposeful Businesses in the comments below.