Recently, La República, one of the most important economic and financial newspapers in Colombia, published the latest article by Núria Vilanova, president of ATREVIA, titled Purpose: visualizing and building the future. The Covid-19 crisis prompted companies to stand out as critical social agents. During vital times, companies opted to focus on people rather than results. They have shown remarkable adaptability and resilience. Consequently, citizens increasingly trust companies more than other players, such as politicians and the media. The European Union has even placed companies as the backbone for recovery and primary aid recipients.
“However, which role do companies play in this new scenario? It is no longer acceptable to simply generate profits. They must contribute to society by responding to pressing issues caused by the pandemic. According to the World Economic Forum’s report on global risks published at the start of each year, the most significant concern in 2020 was climate change and infectious diseases in 2021. In 2022, the weakening of social cohesion will take precedence, followed by the crisis impacting peoples’ livelihood.
In other words, equality and the fight against exclusion take priority over environmental sustainability. This means it is no longer sufficient to only support initiatives contributing to the 2030 Agenda. We must progress from intentions to actions. We must be activists, incorporating a social dimension into all our endeavors.
If we have not yet done so, the time has come to redefine our company’s purpose with one that connects our business to our various audiences, establishing relationships and shared values. So, how can we know what our purpose is? The first step is doing a brainstorming exercise. Think about how we would like the future to be and what our company can do to achieve this.
For instance, if we are a company working in the transportation sector, it is clear that our purpose will be to build a sustainable mobility model. However, depending on the transportation industry we belong to, our approach will be quite different. An airline, a car manufacturer, or a railroad company may share the same purpose, but the plans to achieve it will undoubtedly be vastly different.
This is where our reputation and our ability to develop projects with the support of employees, suppliers, customers, shareholders, and administrations come in. Purpose has become a key indicator of competitiveness highly valued by investors. The same is true about long-term strategies to fulfill this purpose, as they imply a commitment to a better future.
Let’s be optimistic: we have a tremendous opportunity to rethink our purpose, adapting our production model to a post-pandemic world where it is mandatory for all business activities to have a positive economic, environmental, and, of course, social impact.
Envisioning the future means thinking about what role we want our company to play in society and tomorrow’s world. After all, economic growth and social progress are inseparable binomials. Our determination to fulfill our social and environmental commitments must be as strong as our drive to generate financial profitability. So, while it was once only recommended to promote companies’ competitive social transformation, it is now an urgent matter. I repeat, your company’s purpose is how you imagine the future, one which begins now.”
Click here to read the full article originally published in La República.
