To examine some pressing questions at the intersection of purpose and profit, two University of Michigan MBA students and their professor recently conducted a series of interviews with Paul Polman, former Unilever CEO. While at Unilever, Polman focused on long-term goals surrounding social and environmental progress. Today, he serves as co-founder and chair of IMAGINE, a nonprofit advancing sustainability through collaborative actions.
While originally written for business students and young professionals, we found the information insightful for anyone looking to bring more purpose into their career.
Some advice from their Harvard Business School piece:
-
Take the time to discern your purpose and values.
-
Develop your sphere of influence.
-
When the opportunity arises, change the system.
-
Start where you are.
|
|
|
As a fearless 10-year-old, Gwen Goldman defied gender norms and petitioned the Yankees to be a bat girl. Sixty years later, her dream was fulfilled. |
|
|
Public-Benefit Corps Go Public |
Impact Alpha says that early data suggests publicly traded public-benefit corps trade at a premium to other companies in their peer group. This is promising news as more entrepreneurs seek to align purpose and profit in their companies. |
|
|
|
|
|
INCLUSIVE ENTREPRENEURSHIP |
|
|
|
|
|
|
Allyson Felix, Olympic Track Star & Entrepreneur |
Often highlighted for her prowess on the track, Allyson Felix made new headlines in 2019 when she became a leading advocate for working mothers in sports. Today, she continues to align her values and work with the launch of her shoe company, Saysh. |
|
|
Black-Owned Startups Surge |
New data shows that, on average, 380 out of every 100,000 Black adults became entrepreneurs last year. This jump from 240 in each of the prior two years is both a celebration and stark reminder that many Black Americans turned to entrepreneurship out of necessity due to disproportionate job losses. |
|
|
ESG Remains Strong |
In a recent interview, Thomas Gottstein, CEO of Credit Suisse, reminded us that “There is no contradiction of sustainable investments and sustainable returns, quite the opposite actually. In many cases, sustainable investments are actually higher returning than non-sustainable investments.” |
|
|
Firms Scrub Dirty Bonds to Boost ESG Credentials |
A new trend is emerging in ESG as companies turn their attention to cleaning up old debt. Companies are either buying back conventional notes, which could finance just about anything, or transforming old securities to green. |
|
|
|