Building a purpose-led business

If you’re in the business of selling business, you’ll know that regulatory pressures and due diligence are high on the radar for every buyer. 

It’s no good any more to validate your compliance through a series of policies and documents, especially when it comes to ESG (Environmental, Social and Governance) accreditation. Many big businesses have tried (and failed) to buy their way out of troublesome territory and have been accused of ‘green washing’. And very few have succeeded in proving genuine alignment of the big four critical pillars: Business, Brand, Culture and ESG.

In the past, having a successful business simply meant having a profitable business. And, naturally, profit will always be important and will always be the ultimate key performance indicator. But it’s becoming more common that successful, happy businesses are led by purpose. Organisations that have a purpose designed to impact society positively, and place this purpose at the heart of everything they do, can effectively guide decision making in a more meaningful way and grow successfully whilst supporting better, more sustainable ways of doing business.

Sounds great doesn’t it? But most businesses struggle with maintaining a shared culture, never mind a consistent brand and strong ESG credentials. To be truly purpose-led Business, Brand, Culture and ESG must all work together in complete harmony. When ESG is considered a natural and tangible aspect of every part of a business it’s clear to see the benefits:

1. Increased customer loyalty: Consumers more aware than ever of the environmental and social impact of the products and services they consume. By demonstrating a real commitment to ESG considerations, you can build stronger relationships with customers who share your values and priorities.
2. Improved employee engagement: Employees are more likely to be engaged and motivated when their employer prioritises ESG considerations. It helps to attract and retain top talent, improve productivity, and foster a positive workplace culture.
3. Enhanced brand reputation: A commitment to ESG can enhance your brand's reputation, making it more attractive to consumers, investors, and other stakeholders. It differentiates your brand from competitors and improves your long-term business prospects.
4. Risk mitigation: A commitment to ESG can help to mitigate risks associated with environmental, social, and governance issues. By taking a proactive approach to these issues, you can reduce the likelihood of reputational damage, legal liabilities, and other risks.
5. Business innovation: ESG can drive innovation in a natural way and help you identify new business opportunities that align with your brand and culture. For example, investing in renewable energy or sustainable packaging can create new revenue streams whilst also supporting your environmental priorities.

At LEWIS, we’re passionate about helping more businesses realise the full potential of ESG. We work with our clients align their business vision and brand story with the right approach to Environmental, Social and Governance activities and, ultimately, help grow an organisational culture that’s fit for the future.