In January this year, I wrote a series of articles around rethinking the purpose of the corporation, then moved towards rethinking the “triple bottom line” (that dates from 1994) to the “new triple bottom line”, expressed graphically above. The article that captures that and links to my earlier posts is:
“..the objective of economic policy should be collective well-being: how happy and healthy a population is, not just how wealthy a population is.”
~ Nicola Sturgeon, First Minister of Scotland, TED Summit, Edinburgh, July 2019
As UK government and politics, in general, continue to flail along with no clear sense of direction or what success would look like, earlier this week, on the day that the new Prime Minister chose to visit Scotland, a TED Talk that was given last week by the First Minister of Scotland was released. What a stark contrast in leadership it offered and in what two countries (the UK overall and Scotland separately) seek to measure.
Long-time readers will note that in amongst the shorter and often more eclectic daily posts I intersperse longer and deeper reads, often around Economics and, more specifically the future of both Economics and Capitalism in service of the broader society.
So, today share the video and transcript of Ms Sturgeon’s powerful talk, then connect that to some earlier posts and thoughts of my own on what we measure.
A spiral of openness and trust spiral, where both elements feed each other to higher and higher heights.
Trust is at the core of all relationships.
My underlying theme on this site I call #OpenLeadership, as being Open is at the heart of what I see as the new paradigm of Leadership, one of four core attributes detailed on the #BeMoreYou page.
I also love “Virtuous Circles”, my favourite being the one below from Gaping Void and that was the first of many framed prints from Hugh McLeod that filled the walls of our business in Cayman.
So, I love the image above of an Openness and Trust spiral, as a virtuous circle is really a 2D representation of a 3D upwards spiral, where both elements feed each other to higher and higher heights. Trust builds Openness, which builds more Trust, which builds even further Openness etc.
I close with another virtuous circle, that of the “Scale for Impact” model, or “new triple bottom line” where Purpose+People+Planet leads to Profit, which can then be reinvested for Scale to create ever more Impact through that focus on Purpose+People+Planet and so on.
Helping organizations become purposeful companies through leadership, story and culture
What’s the ROI of Purpose? 6 Steps to Take Toward Better Business: Why Purposeful Companies Create Value for All They Serve #BtheChange via @ConsciousCoMag — B Corporation (@BCorporation) June 8, 2019
The universe of people committed to helping leaders lead from Purpose is still a relatively small one, so I loved that I came across this tweet from B Corporation, then when I clicked through, it was by Laurie Bennett of Within People, who I came across at the Meaning Conference last year, having known two of the partners in his business for some time.
In my work I typically support leaders 1:1, with this regularly involving extending this to their teams. As with Within People, we both work with leaders around people, culture, stories, engagement and more. In short, love their work!
In that latter post, I promised that today I’d curate an article by Laurie Bennett, so here it is, chockful of links to real-world examples of businesses that put Purpose first, with Profit not as a driver but an outcome that then allows them to scale their impact.
Ray Dalio of Bridgewater Capital has a personal net worth reported to be over $18bn, sourced from his hugely lucrative hedge fund business.
When he wrote a 7,500-word opinion piece this month called “Why (and how) capitalism needs to be reformed”, this created a stir for sure. I don’t agree with all of his points, but I find it powerful that someone who has made billions from capitalism will now speak so clearly about how the entire system needs reform.
With approaching 600 daily articles on this site, themes keep repeating, plus there is always an element of curation of ideas, sometimes simply sharing something I’ve read from others with minimal added opinions of my own.
Two points only from me today before sharing Ray Dalio’s article:
Narrative is key to making your point. As I was taught long ago: “never make a point without telling a story”. Ray Dalio makes his key points in the first four paragraphs of his article, as not everyone will read 7,500 words. He also begins right away with a story. For more, read “There I stood on the burning deck“.
Oh, and Ray Dalio also created the wonderful “How the Economic Machine works”. If you’d like to get a distilled understanding of Economics, watch this 31 minute video. (more…)
That article puts forward that it is time for a new triple bottom line, one that creates:
“a “Righteous Flywheel”, where the unerring focus on Purpose+People+Planet as drivers allows the corporation to make Profits, which mean it can then focus more on Purpose+People+Planet and so make more Profit, and so on in a “virtuous circle”.”
It also links to three further articles, each with a case study of a company of scale that has lived this and proven that it creates the righteous flywheel.
At the time of writing, I noted that I’d love to create a graphic to represent this. Well, with the creative skills of Martha Rowe (who has done all the graphic and web design for me for some time), now we have one here. Thank you Martha!
Put as a formula:
Purpose + People + Planet = Profit
However, the formula looks like an endgame of profit, whereas the flywheel graphic highlights that it is a cycle.
I’d love to talk to you about this, and to get more examples of companies operating in this way!
Today a story about the corporate purpose and values of a company that I have got to know first-hand and that continues to hugely impress me with the way they live their values and own who they are, (more…)
The phrase triple bottom line was coined in 1994, those three drivers being people, profit, planet. However, I believe it is now time for new thinking around the drivers of a corporation and removing profit as a source driver. Bold, yes, but please read on.
At the time of writing, there are approaching 500 daily posts on this site, all, directly or eclectically, around the themes of #OpenLeadership, #BeautifulLeadership. These concepts around leadership are invitations, provocations, to lead bravely and differently.
Kate Raworth, in her book Doughnut Economics, suggests ‘seven ways to think like a 21st-century economist’ and has just launched a competition asking ‘What’s the 8th Way to Think Like a 21st Century Economist?’
Today I submit my entry, that we need a new triple bottom line, one that puts Profit as an outcome of focussing on the Source drivers of Purpose, People and Planet, and I will give some proven examples of corporations that successfully have done this, all lifted from articles already written on this site. (more…)
Over the last several months I’ve begun a collaboration with Alan Moore.
This has, as a first step, extended to a nascent “Beautiful Community”. Thsi will be the first “pebble in the pond” creating a ripple that will ultimately become a movement around the philosophy of #BeautifulLeadership.
This movement will encompass everything from full-year transformative leadership programmes to one-day workshops, online communities, web summits, publishing, even documentary series.
Today I share with you Alan’s post, effectively our “Clarion Call”, a statement of Alan’s vision that signifies our intent to do our part in leading beautifully towards a more restorative and beautiful world through business and leadership.