Business for Good Is Good for Business

By Penny Pennington
US Chamber of Commerce Foundation | Originally published November 15, 2022

Our world is changing faster than ever before. An unprecedented pandemic, global economic challenges, rising environmental pressures, the fervent call for social justice, digital acceleration – each of these factors has us all rethinking the ways in which we live, work, and interact with one another. In these challenging times, we are also witnessing a shift in the world of business. The expectations of businesses and their role in society are evolving – from focusing solely on the bottom line to having a positive impact on society.

This week, the U.S. Chamber of Commerce Foundation will host its Corporate Citizenship Conference: Business Solves, where leaders from across the private and public sector will talk about this new imperative for stakeholder capitalism – combining innovation and purpose to create value for all stakeholders and embrace a wider responsibility to positively serve society.

Purpose is the key component here. Purpose goes beyond creating a profitable business. It’s your aspiration, your differentiator – it defines the impact a company has on society and what would be lost if the organization weren’t there. For any business to be effective and create lasting value and impact for its stakeholders, it must be purpose driven.

But where does purpose start? From my perspective it starts with each of us. Leading with purpose is fundamental to achieving our aspirations and succeeding in our personal and professional endeavors. And it is vitally important that we strive to work with organizations that align with our purpose and empower us to channel our passion into a drive to make a difference.

I speak from experience. Our purpose at Edward Jones is to partner for positive impact to improve the lives of our clients and colleagues, and together, better our communities and society. It’s our why, and from that why extends what we do every day. For 100 years this purpose has been our North Star as we’ve focused on the opportunities – and responsibility – we have to make an impact on people’s lives. It’s a privilege to lead an organization with a purpose that is focused on helping others thrive in every chapter of life. This resonates deeply with my own values and purpose.

Stemming from this purpose, Edward Jones is focused on three areas of impact where we have the expertise, resources, and passion to drive change: partnering for lasting financial strength, promoting healthier futures, and advancing inclusive growth. They are fully integrated into our business strategy and throughout our organization, allowing us to innately bring our purpose to life at our firm and in our communities.

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To read the entire article by Penny Pennington at the US Chamber of Commerce Foundation website , visit: Business for Good Is Good for Business