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How Blueprint Works withBusiness Leaders enquiries@blueprintforbusiness.orgwww.blueprintforbusiness.org@Blueprint4biz The opportunity There is a fundamental shift occurring both within companies and more generally in society; rather than regarding profitmaximisation as the purpose of business, long term sustainable profit is increasingly regarded as one outcome of acompany’s purpose. In other words, rather than profit being the purpose, profit comes from pursuing a purpose that benefitssociety. This need to integrate businesses into the heart of our societies is echoed in the UN Sustainable DevelopmentGoals3which set out how business is central to addressing the global social and environmental challenges we face today. The new UK Corporate Governance Code imposes for the first time anobligation on the Board of a listed company to “establish the company’spurpose”4. There is also a growing expectation from investors that everybusiness should be clear about its purpose. Larry Fink, the Chairman andChief Executive of BlackRock, the world’s largest asset manager, wasunequivocal in his 2018 letter to CEOs: “without a sense ofpurpose, no company,either public or private, canachieve its full potential.”5 This is supported by growing evidence that purpose-led businesses deliver better long-term performance and are betterable to attract, motivate and retain talent, especially among the millennials who will account for three-quarters of the globalworkforce by 2025.6 The challenge business leaders now face, many of whom have already undertaken or inherited work on corporatepurpose, is how best to seize this opportunity. Our motivation We believe that at its best, business has a powerfully positive role in creating shared prosperity. But realising its truepotential as a force for good depends on recognising that business is not only driven by profit and that people are notsolely self-interested. This is not easy. Thinking primarily in terms of profit and self-interest are almost instinctive reflexes which have shaped howbusinesses think and act in the Anglo-US world for the last 40 years or so. We believe that by focussing on a different wayof thinking about both purpose and people, a business can shift to become a better business, in a way that benefits bothbusiness and wider society. There are two aspects to this. 1.Purpose: ■Does the purpose of the business set out clearly how society benefits from the company’s existence?■Is it inspiring, authentic and above all practical?■How far does the company’s purpose genuinely and consistently guide decision-making?■Is it clear that profit is one essential outcome, but not the purpose? 2.How the business treats people: ■Do people in the business respect and care for those affected by what it does? (i.e. its’ employees, customers,suppliers, local communities, the environment and wider society as a whole)■Why are people attracted to work in the business and how does the business incentivise them?■What is the quality of relationships with customers & suppliers?■How is the business perceived by society? Attending to both aspects is crucial. The potential of purpose is only unlocked if the quality of relationships are at the heartof business success. This is what encourages people (employees, but also customers, suppliers and others) to commit tothe business as a shared worthwhile endeavour: to value its existence and the part it plays in society. It places the emphasison business recognising itself as a social organisation, a place where people matter as well as producing “goods that aretruly good and services that truly serve” and acting over time to minimise harms. This is what creates greater value for boththe business and society. Our motivation is to help businesses compete in a race to the top, which they do best when people feel they are valuedmembers of a winning team on a worthwhile mission. How can Blueprint help you? Blueprint has developed Five Principles of a Purpose Driven Business (set out below), and our work with companies iscentred on using these and the thinking behind them to challenge and support leadership teams in understanding andexploring the potential of becoming a better business. We mainly work with large listed UK companies and we offer: ■Presentations to ExCos, leadership teams and ‘town hall’ meetings to introduce the thinking and the challenge it can offer■Workshop sessions for teams at different levels in a business to introduce the thinking in more depth For company leaders who then wish to work with us over time as they undertake their purpose journey we also offer for alimited number of large corporates ‘social contracts’ which are non-legal and non-financial. How does a ‘social contract’ work? We make a shared commitment to work together over an 18-24-month period where members of our team have regularcontact with the CEO and other key senior people in your company to challenge and support your thinking and your journey