co:collective Announces The Generative Business Project Outlining the Path to Purpose-Powered Growth
The study unveils how organizations can create commercial success and positive impact when they put purpose into practice
NEW YORK, Sept. 17, 2024 /PRNewswire/ -- For years CEOs have found themselves caught between purpose-conscious consumers and "anti-woke" stakeholders. If purpose can be reliably tied to profit, business leaders can align capitalism with societal benefit for the long term and acting in line with your organization's purpose can move beyond being seen as a cultural fad, and become an embedded engine of value and progress for everyone. For the first time, co:collective, a leading strategic and creative transformation consultancy for purpose-led businesses, is unveiling the findings of a proprietary research study examining the ways in which organizations like The New York Times, Genexa, Johnson & Johnson, HP and Yeti have used purpose to outpace the growth rate of the S&P over the past 5 years.
Co: spoke to c-suite leaders who put purpose into practice to find how they really do it and what value it creates. Together the organizations surveyed represent a $589bn market cap and 416,000 employees.
"What we uncovered is a new model for purpose-powered growth: a Generative Business," said Rosemarie Ryan, co-founder and CEO at co:collective. "These generative organizations that put purpose into practice are able to unlock opportunities which create conditions for success that purposeless organizations would find hard to access. This is the start of an exciting journey to codify the mechanisms through which purpose delivers business value so that managers can learn and apply them, turning more and more businesses into generative organizations," Ryan added.
Co: uncovered a consistent pattern where purpose allows businesses to create more value and unlock opportunities and create conditions for success. Generative companies saw an average of +520% growth over the past 5 years.
"Success is tied to the altitude of the purpose", said Ty Montague, Chief Purpose Officer at co:collective. "It must be directly connected to the intent behind the core business and the ways in which the business operates. This is how true value creation is unlocked."
Throughout the study co:collective identified seven primary drivers of purpose-powered growth enabling top organizations to become generative.
Seven Drivers of Purpose-Powered Growth:
- Focus: Common reference point meaning better resource allocation, ROI and faster decision-making capabilities;
- Innovation: Purpose is a rubric for invention and differentiation;
- Alliances: Stronger partnerships rooted in a common reference point;
- Impact: A larger total addressable market and opportunities;
- Talent: Hiring and retaining the best talent;
- Demand: Stronger, more invested customer relationships with a strong differentiator; and
- Longevity: Overcome hardships through better crisis and risk management.
To download the full research study, visit https://cocollective.com/generative-business-project/
About co:collective
co: is an independent strategy and creative transformation partner for purpose-led businesses. We believe today's most successful organizations infuse their purpose into everything they do to generate more value, for more people, more sustainably. We call businesses that operate this way generative.
At co:collective we design brands, experiences, and organizations in order to transform who they are, what they do, and how they show up in the world. We lead businesses through this transformation so they can unlock more possibilities for themselves and the stakeholders they serve.
Since 2010, co: has helped hundreds of businesses uncover their purpose and learn how to live it – from Fortune 50 brands and beloved consumer icons to non-profits, innovative startups and beyond.
SOURCE co:collective
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