Rather than scowl at Schultz for his attempt to further the dialogue around race, we should admire and congratulate him for his tenacity. Starbucks and its partner USA Today have launched an important and courageous initiative that deserves praise, not scorn.
Today, entrepreneurs are increasingly recognizing the allure of merging profit and purpose but rarely do I come across a company whose product is entirely in the service of its social mission.
Approximately 15% of the world’s population cannot effectively learn or work because of poor eyesight - Warby Parker intends to do something about it.
Sir Richard Branson sits down with Phillip Haid to discuss business, failure, persistence and social good. According to Branson, "...business is simply a group of people working together, so the quality of the experience and the pride in working for something beyond just profit is paramount."
It is a simple concept. Sell a pair of shoes today, give a pair of shoes tomorrow. “Shoes for a Better Tomorrow” quickly became “Tomorrow’s Shoes” which then settled into TOMS, with a simple and powerful promise — a better tomorrow.
A new approach in marketing is called “profitable good” and it involves shifting from the current mindset of “doing charity” (because that’s what good corporate citizens do) to thinking about social impact that has a direct positive impact on the bottom line.
At Patagonia a view towards social outcomes, rather than charitable giving, drives bottom line results
Actions most companies would never dream of taking because they are so counter to common business practice, have been wildly successful for Patagonia because at their core they embody the idea of “profitable good,” namely, embracing profit and purpose to drive a better bottom line.
According to Unilever CEO, "if you want to exist as a company in the future, you have to make a positive contribution. Business needs to step up to the plate.”