Re-Purpose Purpose for Regenerative Economy
“The Purpose is Dead. Long Lives the Purpose!”
When we talk about business and the economy, in fact, with every new endeavor, there is no way around purpose. Unfortunately, over the past two decades, purpose has become a buzzword, losing its genuine significance. However, the concept of purpose, the intention behind what we do, remains a powerful and enlightening force. Its impact, though, depends on how this power is applied. At the moment, as marketing and corporate communication discovered purpose as a panacea for more customers, sales, and market share, purpose as a sense-making element was reduced to a money-making scheme. What once provided meaning became meaningless. But in the midst of global challenges bringing back meaning to business and the economy is crucial for the survival of our planet and species. So how can we reintroduce genuine purpose into businesses and an evolving economy that's moving towards a more regenerative approach? Because if we don’t we will reproduce what has proven as dysfunctional.
The insights shared on the "What Matters" podcast with my guest Marianne With provide you with a wealth of information right from the source.
Marianne With refers to herself as a sense-maker and pathfinder. She is also regenerative economy strategist and facilitator with strong roots in purpose-driven businesses.
Purpose In The Context of Regenerative Economy Explained
1. In the context of regenerative economy: The overarching intention and guiding principle that drives economic activities towards sustainability, resilience, and the restoration of natural, social, and economic systems. It involves creating value that benefits stakeholders while enhancing the health and vitality of the environment and society.
2. For a regenerative business approach: Aligning operations, strategies, and values with the broader goal of promoting ecological balance, social equity, and economic stability. It reflects a commitment to long-term positive impacts and ethical practices that support the regeneration of resources and communities.
In short: True purpose reflects the deeper intention to serve life and the broader community.
Co-Exploration: How to Re-Purpose Purpose for Regenerative Economies
Start with Needs Over Identity
Instead of beginning with why an organization exists, focus on what the world needs. Identify real problems to solve that align with principles of social and ecological responsibility. Purpose should be derived from understanding how an organization can uniquely contribute to solving these problems.
Balancing Stability and Evolution
Having a North Star is vital for direction. Purpose is this kinda North Star. However, being on the journey requires iterations and revisits of the taken steps. An evolving purpose allows organizations to adapt to changing circumstances while staying true to their core mission.
Contextual Integration
Purpose should integrate different forms of capital (e.g. financial, human, societal, and natural). It should go beyond profit to include how an organization relates to and positively impacts the world.
The purpose needs to consider the participation of all stakeholders, ensuring a holistic approach to economic and social development.
Specific and Unique Narratives
Purpose should be specific enough to articulate how the organization’s unique capabilities address particular challenges. It’s not about being everything to everyone but about clearly stating what sets you apart.
Embedding Purpose into Decision-Making
Purpose should be the heart of the community and guide everyday decisions. This includes how resources and money are used to foster long-term relationships and sustainable practices, rather than just short-term profits.
Draw from Indigenous Wisdom
Leverage wisdom traditions from various cultures to reconnect with existential elements that are crucial for holistic business practices. Indigenous knowledge can provide rich insights into sustainable living and community building.
My Short “Purpose Playbook” for Regenerative Businesses
And here are some condensed thoughts from my own quill. Enjoy the full conversation with Marianne and me on Spotify or YouTube to take your own notes for your unique context.
[ ] Engage with the community to co-create your purpose.
[ ] Define your purpose with clarity.
[ ] Align your purpose with regenerative principles and holistic values (leading question: how might we in best service to life?)
[ ] Address real-world problems and aim for impactful solutions. Think in output, outcome, impact, and emergence.
[ ] Integrate different understandings of capital (social, natural, financial, etc.) in your creational process.
[ ] Innovate while staying true to core principles.
[ ] Encourage organizational introspection and evolving identity.
[ ] Cultivate unique capabilities and narratives within your organization a/o community.
[ ] Foster transparent and genuine communication.
[ ] Revisit and adapt your purpose regularly. Leading question: Are we still in best service to life?
[ ] Reference indigenous and collective wisdom traditions.
[ ] Build long-term relationships with stakeholders and investors.
[ ] Promote collaboration and shared learning.
[ ] Balance between stable principles and adaptive practices.
[ ] Ensure inclusive participation from all organizational levels a/o community members.
[ ] Measure impact holistically, beyond just financial gains. (Leading question: how would we recognize xyz? What would be different?)
[ ] Maintain authenticity and avoid purpose-washing. A hard No is better than a untruthful Yes.
[ ] Embrace continuous evolution and improvement.
[ ] Encourage openness and listening within your organization a/o community. Each Evolution requires listening with awareness.
My Final Thoughts About My Conversation With Marianne
A regenerative purpose requires businesses to look beyond profit and focus on their role in serving life and the community. By identifying real-world needs, integrating diverse forms of capital, and drawing from ancient wisdom, organizations can meaningfully contribute to a regenerative economy. This involves evolving with the times while staying true to a deeper, more impactful mission.
For more insights, feel free and engage with us at What Matters. If you have further questions or experiences to share, feel free to join our next live conversation on LinkedIn. And to get the full conversation please visit our channel on Spotify or YouTube.
Yours,
Nicole Bastien from What Matters