Unlike other years, companies are expected to take action before making public statements.
2020 has revolutionised business models and forced companies to prioritise purpose. Businesses had to reprioritise; place employees, customers and communities above shareholders and use capabilities to address pandemic-influenced challenges with agility and empathy.
Companies are expected to double down on "purpose" this new year, that is measured by the "trio of action, transparency and accountability." As the focus on authenticity increases, companies are expected to act before they talk. President of Good Company, Laura Ferry said, "We'll hear stories about real risk-taking, about rolling up sleeves and jumping in to help".
In the coming months, businesses will collaborate at scale and work with other brands to accelerate progress and enhance their efforts. Business leaders will also have to embrace and embed "purpose," while fostering employees as the engines of change.
[7 minute read]