Leading on Purpose: a Thoughtful Discussion on how Leaders can Help Bring an Organizations Purpose to Life
By Lauren Stanton-Nixdorf, Operations Coordinator, United Way BC Social Purpose Institute
May 29, 2023
On Wednesday, May 10th, 2023, the United Way BC Social Purpose Institute (SPI) hosted Leading on Purpose: How Leaders can Help Bring an Organization’s Purpose to Life alongside our partners in purpose, Coast Capital. This webinar aimed to inspire businesses with actionable steps in their pivot to purpose. We discussed key topics such as the benefits of an authentic social purpose, how to empower employees to help lead an organization’s purpose, the importance of stakeholder engagement, and key advice for embarking on a social purpose business framework.
Coast Capital is a financial co-operative, a Certified B Corp, and a Social Purpose Organization whose social purpose is building better futures together to unlock financial opportunities that positively impact people and communities.They are committed to advancing the purpose economy in Canada and supporting businesses to adopt and implement social purpose.
A Panel Discussion with Purpose-Driven Leaders
For this event, we welcomed three incredible social purpose leaders working passionately and collaboratively to change ‘business as usual’:
- Liz McBeth, President of Armour Valve – a second-generation leader in her family business, Armour Valve, and founding member of Family Enterprise Canada’s Family Business for Sustainable Development (FBSD) initiative.
- Nicole Monaco, Head of Brand and Communications for Chandos Construction – a values-driven executive leader and critical thinker with 17 years of B2B experience across industries.
- Michelle Reid, Advisor, Corporate Sustainability & B Corp with Business Development Canada (BDC) – a purpose-driven professional with 12 years of rich, varied experience in the sustainability field.
We asked what social purpose in business meant to them, how they work to implement it within their organizations, what challenges they face and how they work to overcome them, and what advice they have for individuals and businesses looking to pivot to purpose.
What Adopting and Implementing a Social Purpose Looks Like
The discussion was packed full of incredible insights and examples of social purpose business practices that apply to any company, regardless of size or industry. Here are some key takeaways that were captured, with a link to the full recording below:
- Business does not sit on top of society – but is nested within a society
- When a business defines its social purpose, it helps define its role in society.
- Consumers are looking for businesses to operate in more sustainable and equitable ways.
- Generational planning is imperative for business continuity. Having a purpose and modeling sustainability is a huge part of a successful transition.
- An authentic social purpose acts as a decision lens for your operations, initiatives, and vision.
- Small and medium businesses seem to be organically oriented to purpose and are using their skills to re-think systems to effect real change within their communities.
- Adopting a social purpose requires resiliency, transparency, and honesty.
- Stakeholder engagement is key to the successful adoption and implementation of your social purpose.
- Encourage other companies to start the journey – one business (or person) can only do so much, but with a growing ecosystem of purposeful businesses, we can scale our impact collectively.
Watch the full recording as our panelists offer invaluable insights guaranteed to inspire almost any skeptic.
We want to thank our panelists and Coast Capital for joining us in this conversation. To our viewers – please feel free to share this with your community and like-minded individuals. The more we collaborate, the more we can work together in building an economy that truly serves the well-being of people and the planet.
Connect with Us
Interested in learning how to define and implement social purpose within your organization? Here’s a few ways to get involved:
- Subscribe to our newsletter
- Follow us on LinkedIn
- Visit our website
- Reach out directly and join us to create your own Social Purpose Roadmap through our Social Purpose Innovators and Implementers programs
