System B, have you heard?
This week circulated in Valor Econômico an article by journalist Vanessa Adachi talking about the topic.
181 CEOs of US companies issued a manifesto on August 19 stating that they will adopt a way of doing business that values consumers, employees, suppliers and the communities in which they operate. They also declare that profit should not be the only goal and that companies are also responsible for the welfare of society.
According to Nancy Koehen, a historian at Harvard Business School: “They realized that business as usual is no longer acceptable.”
Now you may be thinking, yes, but who pays the bills?
It’s Larry Fink, CEO of Black Rock, the world’s largest asset manager, who helps clarify:
“Profit is by no means inconsistent with purpose; in fact, profit and purpose are closely associated.”
Those who bring up and drive many of these System B issues are the famous millenials, who want to consume products and services and invest in companies that have the purpose of producing positive change and commitment to return society.
And to make this point on purpose profitable, I quote an excerpt from the article:
“There is still a lot of confusion between sustainable investment and philanthropy. Proponents of the impact investing thesis or those who follow the ESG (environmental, social and safety) criteria do not give up profit, but propose that it is possible to achieve financial returns compatible with those of conventional investments and to do good at the same time. , something that the most enthusiastic venture to call a new capitalism. ”
For those who want to know more about System B, I suggest the two links below:
https://projetodraft.com/know-the-system-b-a-company-movement-where-the-profit-and-set-with-social-benefits/
https://sistemab.org/en/quem-somos/
And if you need help rethinking your way of doing business, count on us! mariana@hagelconsulting.com.br