NAME
Business With Purpose
PARTNER
Hong Kong Management Association
NEW URBAN VERSIONS
Business 2.0
DATE
2021-present
TYPE
Purpose Leadership
Together we declare purpose, and put our vision into action
OVERVIEW
Purpose /ˈpəːpəs/, to most, relates to a search of the reason why and what something or someone is to become. In recent years, “purpose” is also emerging as a competitive advantage and a powerful way to blend business and society, where companies with an established sense of purpose – measured by social impact – were seen to significantly outperform the S&P 500 by over 1,000% over 15 years (EY / Harvard Business Review, 2016). The business case for “purpose” becomes increasingly clear, but building it to inspire stakeholders and trust is more than just creating a mission statement in the office.
In February 2021, the “Business with Purpose” platform was formed through an Impact Partnership between The Hong Kong Management Association (HKMA) and Social Ventures Hong Kong (SVhk). It is united by our common vision to support corporate and social leaders in redefining sustainability, while reinforcing a shared mission to embed PURPOSE in action for a better collective future for HKMA’s members and the wider business community.
SVHK’s ROLE
As a co-curator, this Impact Partnership builds on SVhk's existing efforts to re-imagine a purpose-driven "Business 2.0". It also marks a significant milestone in our ten-year journey of "Odyssey: New Urban 2030" to daringly redefine urban lifestyles and ecosystems, guided by "態 be-ing" as our 2021 character of the year.
HIGHLIGHTS / PARTNERSHIPS
In its inaugural year in 2021, “Business with Purpose” was joined by 15 business leaders from the likes of Swire Properties, Green Monday and HKBN in a pledge in action to integrate purpose in business. The platform continues to build momentum in Hong Kong’s business community through four pillars: Advocacy, Award, Academy and Advisory and redefine sustainability for the next decade. By activating a stronger supporting ecosystem to advance purpose-led values, the platform hopes to inspire and nurture purposeful leadership and future talents for our business community.
