21 Nov Why should we care about the purpose economy?
For the tenth edition of LEADERSMEETING@PARIS, the ‘purpose economy’ was chosen as the central theme. But what is the purpose economy and why is it an interesting subject for discussion?
A company cannot survive without producing profit. That seems to be the only general rule that every business manager must follow. Yet entrepreneur Aaron Hurst – who launched the concept of purpose economy in 2014 – states that this philosophy of pure profit is no longer sufficient for companies today. According to him, companies should also carry out a clear meaning and social value. This meaning and value not only stimulates employees, but is equally important for potential customers.
As a society we are more than ever aware of our ecological footprint, socio-economic issues human welfare and happiness. We no longer accept it when companies go against these socially relevant principles. Companies that keep putting profits above social purpose will pay a price, says Hurst.
According to Hurst, we are currently at the start of a new economic revolution. This revolution will undoubtedly have many consequences for age-old companies, as well as the emergence of new enterprises and political developments.
We are therefore looking forward to the debate and the visions that will be shared on this relevant theme during LEADERSMEETING@PARIS 2018.