The Five Principles of a Purpose-Driven Business
22nd January 2015 | Norman Pickavance
The average person has lost trust in the business world. After going through a financial recession, a mortgage crisis, steadily increasing executive pay, and cases of misconduct, who can blame them? Norman Pickavance sets out a return to purpose-driven business.
The five principles are:
Does your business have a purpose that delivers long-term sustainable performance? Is your business operating true to a purpose that serves society, respecting the dignity of people and so generating a fair return for responsible investors? Is it doing so in such a way that you welcome public scrutiny of the alignment between your stated purpose and your actions?
Is your business fair and honest with customers and suppliers? Are you dealing honestly and transparently with all who buy from or sell to you, seeking to build lasting relationships? Are you striving to ensure your suppliers also make a fair return, paying promptly what you owe? Do you expect your suppliers to do the same? Are you openly sharing your knowledge to enable customers and suppliers to make better informed choices?
Are you a responsible and responsive employer? Are you treating all your people with dignity and respect? Do you have fair pay and conditions for all, while expecting all your suppliers and subcontracting agents to do the same? Does your business respect and promote diversity, giving a fair chance to people from all backgrounds, including the underprivileged? Does your business nurture all, and promote constructive dialogue about its behaviour and whether it is keeping true to purpose? Does your business foster innovation, leadership and personal accountability? Is your business creating, nurturing and protecting a thriving environment?
Are you a good citizen? Does your business consider each person affected by its decisions as if they were a member of your own community? Does your business make a full and fair contribution to society by structuring its business operations to promptly pay all taxes that are properly due? Does your business work to the highest standards even in markets where there is little legislation required?
Are you a guardian for future generations? Does your business honour its duty to protect the natural world and conserve scarce resources? Does it contribute knowledge and experience to promote better regulation, to the benefit of society as a whole, rather than protecting self-interest? Is your business investing in developing skills, knowledge and understanding in wider society to encourage informed citizenship?
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