Curated News
By: NewsRamp Editorial Staff
September 04, 2024
New Study Explores How Companies Can Generate Profit and Foster Societal Well-being
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- Embracing a social profit orientation can lead to enhanced legitimacy, stronger relationships, and increased innovation, giving organizations a competitive advantage.
- Social Profit Orientation is an organization-wide perspective focused on creating sustainable, positive social and environmental impacts through purposeful resource investment.
- By adopting a social profit orientation, organizations can drive meaningful societal impact, enhance legitimacy, and improve stakeholder relationships, making the world a better place.
- The study 'Social Profit Orientation' explores how companies can generate profit while fostering societal well-being, inspiring global change and business innovation.
Impact - Why it Matters
This news matters because it highlights the potential for organizations to drive positive social and environmental impact while also generating profit. By adopting a social profit orientation, companies can lead their sectors, drive innovation, and make significant societal impacts. This approach encourages organizations to invest resources purposefully to enhance the common good, addressing critical problems and driving business innovation.
Summary
A new study titled “Social Profit Orientation: Lessons from Organizations Committed to Building a Better World,” recently published in the Journal of Marketing, explores how companies can simultaneously generate profit and foster societal well-being. The research, conducted by a team of esteemed academics, examines the benefits of adopting a social profit orientation to benefit both the organization and society. The study reveals the significant benefits of embracing a social profit orientation, with examples from organizations like Oportun and Gundersen Health System.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, New Study Explores How Companies Can Generate Profit and Foster Societal Well-being
