What is such spirit? What makes them deferent than other companies?
When it comes to authenticity, the notion of a company with a purpose appears to be a minimum. This takes on its full meaning here, because it is the starting point for aligning the company's values, its role in society and its commitments to all of its stakeholders.
Small reminder, for once and finally, we have an alignment of the planets, which is taking shape between the company, its various stakeholders and the investors.
All eyes converge on commitment and long-term actions. Of course, everything is illustrated through KPIs (investors remaining financial in mind, above all quantitative), but coupled with substantive qualitative actions.
In my opinion, this highlights the intrinsic evolution of the business world, because all roads lead to Rome, all companies must reinvent themselves and adapt to the world, according to new societal expectations, which have been flowering for several years.
Obviously this opens up virtuous reflection on what a company is, or should be, and its transformation as a mission-driven company.
Because even if it means embarking on the path of a company with a reason for being, there is only one step to transform its statutes, to enshrine it deep in its DNA.
To become a mission-driven company, a company must include its purpose and missions in its legal statutes (B Corporation status). This involves a formal revision of the statutes with the agreement of the shareholders.
The company must create a mission committee, distinct from traditional governance bodies, responsible for ensuring the implementation of the defined missions. This committee may include external representatives to ensure a diverse and independent perspective.
The mission committee regularly evaluates the progress made by the company in achieving its missions. Specific performance indicators are defined to measure the impact of actions undertaken.
But integrating missions into strategy can be a challenge, requiring significant resources and coordination. Feedback illustrates the need to remain simple in the approach and not make it more complex in the launch phases.
Each year, the company must publish a mission report detailing the actions carried out and the results obtained in relation to the objectives set. This report is presented to shareholders and made public to ensure transparency.
Mission-driven companies are also subject to independent verification of their performance by a third-party organization, guaranteeing the objectivity and credibility of the information reported.
Mission-driven companies embody a new vision of entrepreneurship, where economic performance is closely linked to social and environmental impact. By adopting this model, companies commit to contributing positively to society while pursuing financial objectives.
This holistic and responsible approach meets the growing expectations of stakeholders, and paves the way for a more sustainable and equitable economy.
They are very often drivers of innovation, seeking new ways to create value, while respecting their social and environmental commitments. This can lead to the implementation of new business models and the transformation of internal processes.
Here we touch on a subject that is dear to me, the internal alignment of the company, between its values, its missions and its daily operations, which must be powerfully anchored and articulated by management (Top & middle management).
Ultimately, mission-driven companies benefit from a better brand image, increased customer and employee loyalty, and easier access to certain financing and partnerships.
These companies are and will be more differentiating, more virtuous, which is the key word for standing out in a competitive world where attracting and retaining talent becomes crucial, because they are more anchored in reciprocal values.
Very recent example in France but operating globally with Bel in the world of agri-food which has just adopted the status of mission-driven companies.
“The Bel group and its family shareholders reaffirm their long-term vision, where profitability and responsibility are closely linked. It is the culmination of more than 20 years of commitment, which perennially anchors a pioneering model of sustainable growth, as well as the vision driven and implemented by Antoine Fievet, Chairman of the Board of Directors of Bel, and Cécile Béliot, General Director.
With this new step, Bel reaffirms and inscribes its purpose in its statutes: by providing access to healthier and more sustainable food for all, Bel works to develop a food model that is respectful of the planet's natural resources, which benefits its entire ecosystem and thus allows it to act for today's generations and those of tomorrow.
Social and environmental objectives, in line with the sustainable strategy pursued by Bel for 20 years, as well as a mission committee will also be set up.»
The approach was accompanied by a global “We Share” employee shareholding plan, to make the societal and cultural approach even more concrete.
Reminders & principles:
Mission-driven companies represent a significant evolution in the modern entrepreneurial landscape, integrating social and environmental objectives into their business model. This concept, which is developing in particular in France with the PACTE law (Action Plan for Growth and Transformation of Companies) of 2019, aims to reconcile economic performance and social utility, allowing companies to meet the growing expectations of society in terms of responsibility and sustainability.
The key concepts of committed companies (with a reason for being or said to have missions, etc.)
A mission-driven company is a company, which, beyond its business objectives, sets one or more social, societal or environmental missions in its statutes. These missions become commitments that guide the company’s strategy and actions.
Purpose: The purpose of a company's mission is a formal statement that describes the company's contribution to the general interest. It goes beyond simple profit to include long-term objectives, linked to social and environmental issues.
Social and Environmental Missions: These missions are specific commitments made by the company to have a positive impact on society and the environment. They can include objectives such as reducing CO2 emissions, improving working conditions, social inclusion, or even preserving biodiversity.
My conclusion
The notion of commitments and transparency are dear to mission-driven companies, which must not only define clear missions, but also commit to actively pursuing them. This implies total transparency towards stakeholders, with regular reports on the progress made, and returns to the CSRD subject which is a perfectly adapted format and communication approach.
From my point of view, these structuring approaches will allow companies to gain organizational efficiency through greater cohesion, commitment and clarity.
These are completely virtuous approaches, which fundamentally revisit the identity and culture of the organization.
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