Business Roundtable Puts Stake in the Ground Around Purpose

Aug 26, 2019 2:00 PM ET

Last week marked an exciting and transformational milestone in the world of Purpose – and in business.

On Monday, August 19, America’s top CEOs put a stake in the ground – redefining the role of business in society. The business mentality of shareholders first is no more, and leaders have developed and adopted a new definition. The “Statement on the Purpose of a Corporation” written by the Business Roundtable encompasses the interests of all stakeholders and introduces a broader, more long-term view of value creation. In many ways, this sends a message to the business community that they now have permission to lead with this philosophy.

This reaffirms what we at Porter Novelli/Cone have tracked for years – that business is about more than just profit, it’s also about positively impacting society. In fact, our research shows 76 percent of Americans echo this mindset. Furthermore, Americans expect the companies they associate with to reflect their values, and in doing so, will reward in turn:

  • 72% of Americans feel it is more important than ever that the companies they buy from reflect their values
  • 68% of Americans would want to work for a company that leads with Purpose
  • 89% of Americans have a more positive image of a company that leads with Purpose
  • 86% of Americans would purchase products from a company that clearly demonstrates its Purpose

Want to learn more what this new definition means for you and your business – and how might it impact the ways decisions are made at your organization? Join Porter Novelli/Cone for a complimentary webinar presentation as we share what the new “Statement on the Purpose of a Corporation” means for business today – and the future of Purpose. To register for this webinar on Wednesday, September 11 at 12:00 p.m. ET, please click here.