The Future Of Business? Purpose, Not Just Profit

Summary

SCOTT Pollack says that business development is the creation of long-term value for an organization for customers, markets, and relationships. Business Development really important for overall business. Business development are used in many different department (Sales, Marketing, Project Management, Product Management, Vendor Management, Partnership, Networking, and cost-saving efforts). A BD must understand business that he was in. The BD discussed a specific plan to a business expansion plan, whose impact can be felt by almost every unit of the business. Industry preferences for BD are in food industry, construction industry, trade industry, electronic business industry, and many more. A digital business requires different processes with traditional, as example, in payment on traditional business you only can pay by cash or account payable, but in digital business you can pay by Paypal, credit card, and Bitcoin. For personal branding, you can do two things. First, use of professional social media (ex. LinkedIn), you can describe what kind of person you are, and after that, you must focus on your strength. Second, search for networking for your future possibilities and for your career enrichment.

Abstract

Inequality, poverty, youth unemployment and climate change are among the challenges we are facing right now. In business, CEOs have gone from being symbols of aspiration to objects of intense scrutiny. Now, it’s all set to change: the CEOs will want their companies to be recognised as forces for good. Unilever is a good indicator of how major conglomerates might soon be developing a purpose-led strategy for their core business. Their outgoing CEO, Paul Polman, has been among the first business leaders to give a new, more profound meaning to the word ‘sustainability’, regarding it not just as the right thing to do, but an essential component of growth. For Polman, the incentive is clear: businesses cannot thrive in a world in which people don’t. Protect people and the environment, and you will protect the future of your enterprise. B Corporations are companies certified on the basis of social sustainability and environmental performance standards. Nearly 90% of the world’s biggest companies are reporting on their sustainability performance, using metrics established by the GRI (The Global Reporting Initiative). Business need to do something for the environment, like do reducing environmental impact to contributing to healthier societies and fighting forced labour.

Reference: https://www.weforum.org/agenda/2019/01/why-businesses-must-be-driven-by-purpose-as-well-as-profits/