The Emerging Trend
Social Purpose Business is an emerging business development and an advanced level of Corporate Social Responsibility (CSR). Social purpose businesses embed social good into the very core of their business operations. It becomes part of their brand and an authentic way to survive and thrive in a changing society. This next iteration of CSR opens up the opportunity to lead with social purpose and work together to advance to the next level of business and societal impact.
Many organizations know that investing in their community to help solve social issues is good for business. Thriving, healthy people and communities are inextricably linked with a business’ financial health. When businesses lead with Social Purpose – engaging with employees, clients, customers, peers, suppliers, non-profits, social services, government policymakers, and more – in pursuing real, positive social change, we all benefit.
UWLM researched the various definitions of the Social Purpose Business and compiled them into one definition, here: Social Purpose Business Definition (pdf)
Learn more about the Social Purpose Institute at United Way, and how it’s helping businesses create social good and drive business results. Click here.
United Way’s Role
UWLM is embarking on a new way of engaging with the business community to bring about greater social change. Our corporate partners have been requesting involvement in, and a deeper understanding of, our work and the social issues faced in the Lower Mainland and want to become more engaged in the solutions. UWLM, known for its local community development and broad, cross-sectoral networks, is poised to serve as the source for community intelligence, training and involvement in embedding social purpose within businesses.
When social purpose becomes a core part of a business and its brand, it has the potential to bring more than just philanthropic dollars to bear on social issues; instead, all the business does fosters social change. Social change is the mission of United Way. We want to foster and grow leadership in social purpose because together we can make amazing things happen.
Download United Way’s
Social Purpose Business Case
The research on the social purpose business case shows there are six main business benefits for pursuing a social purpose business model.