Propelling Purpose Summit 2021

“To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society … Society is demanding that companies, both public and private, serve a social purpose.”

"Purpose driven companies who have the best interest of communities and all of their stakeholders in mind have always been more sustainably successful over the long term than businesses that don't."

“There are social problems to be solved and businesses solve problems. Businesses are innovators and the problems we have are numerous so it’s really about honing in on those [societal] problems and attacking them with some determination. I think that’s the heart to why businesses are successful through their Social Purpose.”

“Defining our business' social purpose is like discovering our North Star. While a few may have been steering toward its general direction, mapping it out and stating it explicitly enables all employees, management, customers and suppliers to be engaged and aligned towards our common aspirational goal.”

Out of eight respondents to the question of “what business benefits have you observed because of working on identifying your social purpose?” all eight reported short-term impacts. These included: Positive employee feedback, innovative ideas generated, positive customer reaction, and new partnerships attracted.

“The events of the last year have made even more clear the need for businesses to stand up in new and innovative ways to make their communities stronger and help address societal challenges. Adopting a social purpose gives your organization its North Star, galvanizing your entire ecosystem to drive positive change for your business and for society. Coast Capital is proud to work alongside the Social Purpose Institute to advance social purpose in business.”