Leading with impact
If you ask people what is the purpose of their company, many will tell you it’s vision or mission, or say it’s to make a profit or create jobs − but it’s neither. At its core, a company’s purpose is a affirmation for being in business. It’s the driving force that enables a company to operate.
In a report by Deloitte is it said that a company’s purpose is almost like what a foundation is to a house, a conductor is an orchestra, and a canvas is to an artist’s masterpiece – a clear purpose is everything to a company. It is also a platform to build your business on or a mirror to reflect the identity of your organisation.
The report states that research indicates that companies that are using purpose to create deeper connections with stakeholders do more for the community with which they work, attract and retain talent, and in the process, are achieving greater results and impact. They even witness higher market share gains and grow on average three times faster than their competitors – all while achieving higher employee and customer satisfaction.
This ties into the United Nation’s Sustainable Development Goals (SDG) – these are a call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet. They recognise that ending poverty must go hand in hand with strategies that build economic growth and address a range of social needs including education, health, social protection, and job opportunities while tackling climate change and environmental protection.
SAICA supported Chartered Accountants Worldwide and One Young World on 6 February when FinBiz2030 was launched in South Africa – this is an initiative to unite and mobilise the finance and business community to achieve these SDG goals by 2030. Young professionals from different sectors came together as a force for change and to make a commitment to tackle some of South Africa’s most pressing issues. Have a look at some of the highlights on pages 20-23 and have a look at a video of the highlights here.
We are also profiling our members who are actively working to solve some of these goals and we have recently published our second SDG report – and we’re calling on members to join our hands in creating value not only for your own company but also for communities around us.
As SAICA CEO Freeman Nomvalu says: ‘If ever there as a compelling need for responsible leadership in South Africa it is now. We need to grow our economy to mee the needs of our people. Such growth, however, should not be at the expense of future generations.’
In an era where everyone is inundated with options, companies that are able to authentically lead with purpose discover new ways to deliver value to their stakeholders. By leading with purpose you are able to leave an impact that will last for generations to come.
Gerinda Engelbrecht, Editor