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Global Mind Leaders - " Competing on Social Purpose "
Article
Title
" Competing on Social Purpose "
Description
Brands that win by tying mission to growth.
By Omar Rodríguez Vilá and Sundar Bharadwaj
( Harvard Business Review ).
Idea In Brief
The Expectation
Consumers increasingly expect brands to have a social purpose, so many companies are taking social stands in very visible ways. Think TOMS’s one-for-one program, which donates shoes and other goods for every product sold.
Consumers increasingly expect brands to have a social purpose, so many companies are taking social stands in very visible ways. Think TOMS’s one-for-one program, which donates shoes and other goods for every product sold.
The Challenge
These programs can benefit society and the brand but may fizzle or actually harm the company if they’re not carefully managed.
These programs can benefit society and the brand but may fizzle or actually harm the company if they’re not carefully managed.
The Strategy
An effective strategy creates value by strengthening a brand's key attributes or building new adjacencies.
At the same time, it mitigates the risk of negative associations and threats to stakeholder acceptance.
An effective strategy creates value by strengthening a brand's key attributes or building new adjacencies.
At the same time, it mitigates the risk of negative associations and threats to stakeholder acceptance.
