Many in business have a trade-off mentality – if we make more profit we must trade off purpose, or if you demonstrate more purpose you will need to discount returns. However, this trade-off mentality is increasingly being challenged. Firms can balance both, and in doing so, they can achieve important business synergies – improved customer acquisition, better customer retention, improved staff engagement, lower costs, as well as identifying new opportunities that others may overlook. And it’s those firms focusing on both profit and purpose, who will have the best opportunity to thrive in the future.
Read the full article from our CEO, Vaughan Lindsay, in Chief Sustainability Officer magazine.