Written by Alan Murray and Bruce Simpson
Business is changing. A powerful mix of forces—employee activism, enhanced media transparency, government gridlock, and proliferating global problems such as the COVID-19 pandemic, rising inequality, and climate change—have led an ever-growing group of corporate leaders to recognize that a focus on profit is not enough. Purpose beyond profit has become a necessary ingredient for exceptional business success.
But how do you inject purpose into a business? And how do you distinguish true purpose from “purpose-washing”—a public relations veneer rather than a fundamental change in culture and operations?
To try and answer these questions, and to begin to create a playbook for others interested in following a similar purpose path, Fortune and McKinsey & Co. convened 45 of the world’s leading CEOs for four virtual working sessions over the past six months. Our goal was to extract lessons that would help others embrace a model of business that leads to better results both for their companies and for society.
Click here to read more.