In 2019, Isaac Getz wrote a book titled *L’Entreprise Altruiste*, which examines companies that have undergone a dramatic shift in focus to pursue greater profits; Japan’s Eisai Pharmaceutical can be cited as a prime example. In the early 1990s, Haruo Naito, Eisai’s new president, shifted the company’s focus from profits to “human healthcare” and began prioritizing the care of patients and their families. Naito believed that good fortune would come to those who possessed passion and enthusiasm and, above all, put patients first. Getz reported that Naito called on each department to review its business processes with this new goal in mind. For example, the sales team focused on delivering appropriate products to patients, many of whom suffer from dementia or Alzheimer’s disease. In underperforming regions, sales managers conducted lectures and demonstrations on making homes and daily routines safer to reduce the number of hospital visits by the elderly.
As a result, Eisai’s reputation among private practitioners improved, and the sales manager was able to double sales in six months without any extra effort. Getz argued that one of the most positive outcomes of being a purpose-driven business is that it helps with talent acquisition. He noted that because millennials seek companies that prioritize social missions and purpose, such companies can attract more job seekers than their competitors. Furthermore, research has shown that purpose-driven companies are better able to retain top talent. However, to warn brands against boasting about their efforts, Getz cited a French proverb:It reportedly reads, “In fame there is no virtue, and in virtue there is no fame.” He also explained that the companies surveyed were not eager to publicize themselves, and that it took two years just to get in touch with Eisai’s president. Getz stated that the reason for this modesty is that companies believe it is the right thing to do and that it will benefit them in the long run.
The concept of purpose-driven business is not new. Companies have long shouldered social, environmental, and ethical responsibilities, but the recent wave of purpose-driven business has simply shifted the focus from profit to people. Getz stated that while it is essential for companies to be aware of their purpose and be able to articulate it, it is also necessary to ensure that employees live out that purpose every day. He said companies should provide training that enables employees to understand the purpose and dedicate themselves to it. Furthermore, he noted that companies should invest in making their processes as efficient and effective as possible, as this frees up the time and resources needed to fulfill their mission.
In conclusion, the concept of purpose-driven business has become increasingly important in recent years.
Companies that prioritize the needs of their customers, employees, and the environment achieve greater profits and attract more talent. Building a people-first company takes time and effort, but the results are well worth it. Companies must take the time to explain their purpose to employees, invest in training, and ensure that their processes are efficient and effective. Purpose-driven yet profitable companies are the future of business.
