This article caps off our three-part series on what corporations can learn by taking notes from non-profits and their approach to purpose and impact.
In the previous two installments, we explored the importance of leading with purpose and we analyzed how companies like Patagonia and Ben & Jerry’s successfully weave that purpose into their very core.
In our final article, we’ll examine one of the more interesting interplays between the private and non-profit sector that has gained momentum in recent years: the rise of the philanthropist CEO.
More particularly, we’ll assess how the CEOs of Salesforce, Chobani and the Virgin Group are doing good by simply being good at what they do.
Marc Benioff: Driving Purpose at Salesforce’s Helm
Salesforce, the global leader in customer relationship management, is not just recognized for its innovative cloud-based solutions. In fact, under the guidance of its CEO, Marc Benioff, the company is quickly becoming a beacon for corporate philanthropy.
Benioff took a page from the non-profit playbook when he championed the 1-1-1 model at Salesforce, a commitment that earmarks 1% of the company’s equity, 1% of its product, and 1% of employees’ time for charitable endeavors.
To date, the initiative has catalyzed hundreds of millions in grants and spurred employees to contribute over millions of hours to community service. But his dedication to societal change doesn’t end at corporate initiatives.
In addition, Benioff is at the forefront of corporate activism, using his influential platform to advocate for pressing social issues and putting his money where his mission is, including generous donations to children’s hospitals and more.
The overarching lesson for other firms is simple.
Embedding philanthropy into the core of your business strategy, as exemplified by Salesforce’s 1-1-1 model, transforms charitable endeavors from sporadic gestures into institutionalized programs which magnify impact and underscoring genuine commitment.
Hamdi Ulukaya: A Yogurt Titan’s Commitment to Humanity
Chobani, renowned for its velvety Greek yogurt, also stands as a testament to the deep-seated commitment to social responsibility of its founder, Hamdi Ulukaya.
Since the company’s inception, Ulukaya’s vision transcended profit; he sought to impact communities positively.
In his pledge letter to The Giving Pledge Ulukaya notes that since day one, Chobani has given 10% of its profits to charity through the Chobani Foundation.
Not one to stop when on a roll, Ulukaya followed his pledge by making the truly groundbreaking gesture of allocating 10% of Chobani’s equity to the very people who helped build his dream: his employees.
What’s more, Ulukaya’s philanthropic efforts aren’t limited to Chobani’s confines. With the creation of the Tent Partnership for Refugees, he’s rallied the private sector to support refugees worldwide, improving their lives and offering them opportunities.
For businesses taking note, Ulukaya’s journey demonstrates that by acknowledging employee contributions and extending a company’s reach beyond immediate communities, it’s possible to construct a brand that doesn’t just sell — it inspires and connects.
Richard Branson – Virgin Group
Sir Richard Branson, the maverick entrepreneur behind the Virgin Group is known for his drive to intertwine purpose and profit just as he is for his success in virtually any endeavor he takes up.
Virgin, a brand that spans industries from music to space travel, has always demonstrated an appetite for change and innovation.
Branson, in line with his characteristically bold approach, has been at the forefront of corporate social responsibility. A signatory of The Giving Pledge, he has committed to donating the majority of his wealth to philanthropic causes.
Most importantly, this ethos trickles down to the very operations of his plethora of companies.
Virgin Atlantic, for instance, has been a trailblazer in researching and pushing for sustainable aviation fuels to combat the environmental impact of air travel. Beyond the operations of the Virgin Group, Branson founded the Virgin Unite foundation, which endeavors to unite people and entrepreneurial ideas to create opportunities for a better world.
For businesses aiming to craft a legacy beyond revenues, Branson’s trajectory offers a clear lesson: when innovation meets purpose, not only can one revolutionize industries, but one can also effect meaningful, lasting change.
And there you have it; the conclusion to our series on how corporations can adopt the non-profit playbook and start building their mission upon purpose and impact.
You can find links to the earlier articles below, and good luck to all who are embarking on the uniquely rewarding adventure of tying together people, profit and planet.
Part 1
Adopt The Non-Profit Approach: How Corporate Leaders Can Be A Part Of The Solution
Part 2
Start Leading With Purpose: What Corporate Leaders Can Learn From Non-Profits
Read the full article here
