The U.S. workforce has made it clear that they are looking to find work that gives them a sense of purpose and that they can feel passionate about. Organizations are responding by providing more employee engagement programs and positive impact opportunities – but does this make them a positive business?
Defining Positive Business
A couple of weeks ago we dissected what purpose means in the workplace. Today we’re investigating the idea of a positive business. The University of Michigan’s Ross School of Business defines positive business as “the idea that businesses can and should create not just economic value, but also offer great places to work, be good neighbors, and help solve some of the world’s biggest challenges.”
The Elements of Positive Business
Create Economic Value: A positive business is one that creates value and can continue to develop products and services that make a positive impact on society. In order to create economic value, businesses need to think long term and determine how they can continue to be a financially sustainable business.
Great Place to Work: Top talent seeks a workplace where they can make make a difference and feel they and their work is valued. Positive businesses are able to identify these people, and help them apply their passions and skills to the work that they’re doing.
Be Good Neighbors: It can be easy to evaluate the success of a company based solely on their financial performance, but positive businesses realize that there’s much more to it. A large corporation can provide thousands of jobs to a region and its resources can be used to make a huge impact on its surrounding area. Through CSR, volunteering, philanthropy, environmental sustainability efforts and more, positive businesses can be a force for good.
Solve the World’s Biggest Challenges: This can seem overwhelming, but it all goes back to a business’ mission and purpose. What is the problem they’re trying to solve? Why were they founded in the first place? When employees are entrenched in their day to day responsibilities, it can be hard to see the forest for the trees. Positive businesses put the challenge first as a reminder to all employees of the problem they are working to solve.
Are you in the Boston area and interested in connecting with other leaders who are passionate about positive business practices? Join the Business Leaders for Positive Business Meetup Group.