Along the way, The Trailhead Group finds examples of where ‘Purpose Guides Action.’ We share these stories in TrailNotes.
‘Performance with Purpose’ has been the guiding vision for PepsiCo since 2006. A brief look at the company website reveals how that vision permeates the company’s identity and execution. PepsiCo, with 250,000+ employees and more than $60B in annual revenues, offers an example of how large organizations can deliver both profits and social good.
These days, one can find scores of events and articles that speak to the attention, energy, and money Impact Investment attracts. (See twitter: #ImpInv, #SocEnt, and #SocImp). However, I am struck by the efforts that PepsiCo has deployed over the past decade.
The Pepsi Generation Meets the Millennials
As part of Fortune Magazine’s ‘CEO Initiative’ event earlier this month, PepsiCo CEO Indra Nooyi spoke about the shift from “one-off corporate social responsibility (CSR)” programs that were often pet projects of the company’s CEO, to a more intentional and programmatic approach (Watch interview).
“…we had to weave purpose into the core business model of the company. How do you make sure that the sense of purpose can only be accomplished if you make profits and the only way to make profits is through purpose. And that’s why we use the term ‘performance with purpose’ linking both together.”
Obviously, PepsiCo is not alone in this deliberate shift to become genuine partners in their immediate or broader communities. Check out the article, “Why Companies Can’t Just Write Checks to Do Good” to learn about efforts shared by brands like Aetna, JPMorgan, AllState, and Chobani to “demonstrate less talk, more action, and a lot more investment…to create an impact.”
Your Performance
The PepsiCo example should give smaller, growing companies great confidence. Identity is an evolution that takes a series of minor, but meaningful steps. The process requires a deliberate construction and a re-consideration of existing structures and mindsets. So, what actions is your growing company taking to reflect the growing interdependency of profit and purpose?
If you enjoyed this post, please check out previous TrailNotes or contact us to speak more with The Trailhead Group.
(image attribute: PepsiCo)