The following article was originally posted in Ken Makovsky’s blog, My Three Cents.
Public relations and capitalism have something in common. Both rely on some of the same principles: relationships, mutuality and community.
Capitalism is grounded in value creation for all stakeholders. If business becomes more conscious, it can do what it does even better. It can create more community, stronger relationships, more mutuality and…more profit, by engaging everyone in the system, and thereby creating still more value for stakeholders. The above is the conclusion of part one of a three-part post by Sandra Duhé, on the Institute for Public Relations website. Her article takes as its launching pad the 2013 book, Conscious Capitalism, by Whole Foods Co-CEO John Mackey and Conscious Capitalism co-founder Raj Sisodia.
Duhé’s article suggests that it is public relations’ duty in “conscious capitalism” to help organizations find a higher purpose, stakeholder integration, conscious leadership and conscious culture and management.
I very much like the way an organization’s purpose is defined: “the difference it is trying to make in the world.” Driving an organization to lofty heights by inspiring them to celebrate who they are is enormously satisfying. But it would also be wonderfully satisfying to know that public relations was the one discipline that truly is responsible for driving a company to establish a higher purpose.
Duhé considers “higher purpose” the factor that guides public relations practices with certainty. She also states that operating at a higher level of purpose “renders decision-making that is strategic rather than tactical, positions practitioners to be managers rather than technicians, and enhances the professionalism and perceived value of the practice.”
Here are some examples of statements of higher purpose:
· Disney: To use our imaginations to bring happiness to millions
· Charles Schwab: A relentless ally for the individual investor
· Humane Society: Celebrating animals, confronting cruelty
· 3M: Improving every company, every home, every life
· Merck: Improving health and well-being around the world
· Merck: Improving health and well-being around the world
Ken Makovsky is President of Makovsky, one of the top 25 independent public relations firms in the United States. He is also Co-Chair of the IPR Board of Trustees.
I agree with you all, Business produce goods and/or services that assemble consumer requirements. Consequential earnings show the way to business growth and further hires. The rising infrastructure both serves community needs and produces more jobs. Pertain that facts to each decision we create as strategists and counselors.PR companies have a assessable future surely.
I agree with you, Kay, and believe public relations practitioners can play a pivotal role in helping businesses navigate their political, economic, and social environments. I think it’s essential that we enhance our literacy in these areas and, in turn, apply that knowledge to every decision we make as strategists and counselors.
I believe, too, that education should be a part of every company’s outreach to stakeholders. But, to be effective, the business must first be seen as a trustworthy, credible source of info that’s concerned about stakeholders’ interests, too. We can also help in that regard.
Too often, we assume our stakeholders know what benefits a company brings to a community, and we all know how “assume” is spelled… 🙂
Couldn’t agree more!
Thank you.
Ken
Interesting comments, Ken. I would like to offer an additional item that every P.R. professional should know. The key variable that contributes to a nation’s prosperity is “business”.
That’s right — BUSINESS.
Business produces products and/or services that meet consumer needs. Resulting profits lead to business growth and more hires. Taxes generated by business and supplier profits, as well as employee compensation, are used to build schools, hospitals, etc. The developing infrastructure both serves community needs and produces more jobs.
PR professionals can play an important role in educating stakeholders about both the intentional – and unintentional – benefits of a healthy bottom line.
Prosperous businesses depend, in large part, on good government.. Such a government establishes conditions conducive to prosperity, including contract enforcement, property right protection, reasonable taxes and more.
It’s elementary, my dear Watson.