Interesting to see Larry Fink, Chairman of BlackRock , which manages $6.3 trillion of investor's capital, writing to all Chief Executives to advise that "society is demanding the companies ...serve a social purpose...make a positive contribution to society".
This swing to more responsible corporate business, together with the focus on 'good jobs', seems to herald a new era where vision, values and purpose need to be increasing multi-faceted and authentic.
Better make sure that staff understand what it means to them locally and that they live this new model of behaviour.
In his annual letter to S&P 500 CEOs, Larry Fink, CEO of BlackRock, made a full-throated defense of both long-term value creation and corporate purpose. And it’s powerful stuff, especially coming from the world’s largest asset owner. Fink points out that governments seem to be failing to prepare for long-term issues and that “society is increasingly turning to the private sector” to step up on societal challenges. (Interestingly, Apple CEO Tim Cook used remarkably similar language about the role of business in society last summer). But the money quote from Fink was this: Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.