As a more colloquial summary, I could say that I think this type of action is very good (who could be against it? Any initiative that benefits the care of the planet is positive), but I don't uk telegram number think it's so good if it's more of a communication action than a real initiative within the company.
Welcome to the era of regenerative brands
In line with the general trend with sustainability as an argument, I have found an article by BCG (with the same title as this section), which suggests going one step further. It talks about how companies should become regenerative brands . The main approach is that they should not only be sustainable, but they should take action, they should provide solutions to problems, they should give more than they receive.
A regenerative brand is one that takes action to try to solve problems beyond its business, customers and shareholders; they are brands that give more than they receive.
I'll start by saying that I think it's a wonderful approach and I hope many companies will put it into practice. But it's such a big goal that I see it as totally utopian. At the moment I see it as a concept to be achieved, but difficult to put into practice.
Think for a moment, how many of the companies you know (excluding the iconic ones) would dedicate a considerable part of their budget and time to solving a problem not directly related to their activity? I can't think of any. If I include the big ones, Inditex immediately comes to mind, but little else.
How to tackle such a large task and achieve realistic short-term goals?
In my head, I understand these big things better if I see them in parts, like a plan of X stages, in which we go from less to more until we reach the final objective.
I could propose, as the BCG article does, a model of what a regenerative company should be like. But that usually ends up being just nice words and little else. You are left with a question of “what now? Where do I start?”
That is why I am going to propose to you what I believe are the first steps to try to get closer to that ideal model.
First steps to turn a company into a regenerative brand
1. Become aware that the role of companies has changed
Its role has long since ceased to be limited to obtaining an economic benefit in exchange for a product or service.
Companies must assume that by their mere interaction with their customers, they are already part of society and that they play an important role in it as role models. And this leads them, at the very least, to respect it. This in turn involves implementing a series of policies that make this possible (social, environmental, labour, etc.). Let's say that all companies should have a minimum of measures that help them integrate into the society in which they participate.
This is the starting point. From here we have to see how to evolve towards a more complete and committed business model.
2. Use brand purpose as a lever to RE-connect company and market
Before we propose the brand's contribution to society beyond the basics, we must consider whether our company is really connected to society beyond its products or services. If not, our social project would remain a one-off action that will probably end up losing strength or being abandoned.
As I have mentioned several times on this blog, the connector between company and society is the brand purpose .
Let us recall its definition:
“It is the aspirational reason for being beyond profits that guides its growth and impact on society” – Carol Cone