Dr. Pero Mićić

What are your real opportunities in the crisis?

Crisis opportunity no. 04: Make social value the core of your mission

It is not only in times of crisis that we experience how important it is that companies are recognizably useful to society. And that they invest all their activities in maximizing this social value. That they want to earn money by doing so. That is why crisis opportunity no. 4: is Make social value the core of your mission

Examples

The company CLAAS , known for its combine harvesters, helps to provide food for the growing world population by supporting professional farmers.

The German company CureVac offers society better health through innovative vaccines and therapies against several types of cancer and infectious diseases.

The Berlin-based start-up AVA has the mission to increase people’s sense of security wherever they are.

Tesla has the mission to accelerate the transformation to sustainable transport and energy.

To get me correctly: I am not talking about Corporate Social Responsibility, but about Corporate social value! It’s not enough to donate money and build a kindergarten every now and then, but otherwise to focus primarily on your own profit. It is about pursuing a social benefit at the core of the activities.

Does corporate social value really benefit your company?

Oh yes! Look at Tesla. There are hundreds of YouTube channels alone that report only or almost only about Tesla. Tesla does not spend a single cent on classic advertising. The other manufacturers have to invest billions and billions in advertising and still suffer losses.

And have you ever heard that the customers of a car manufacturer volunteer to help with the delivery of cars and explain the cars to the new customers free of charge? And what other car manufacturer is growing despite the crisis? Which one has such a large fanbase among young people in particular? These are robust advantages in customer relations.

But their mission also brings financial benefits. The sales margins and the stock price are proof of this. And don’t tell me Tesla is no good example for small and mid-size business. Tesla used to be startup with a handful of people in 2003.

AVA has more business in this crisis, in a time of mass extinction of startups. Simply because they are important for people’s safety and therefore for many large companies and their employees.

Basically: the more socially useful a company is, and is perceived to be

  • the more it is loved by its customers and rewarded with loyalty
  • the more employees feel their work is meaningful and are accordingly committed and loyal
  • the less is the company being attacked and sued
  • the more the company is supported in an emergency situation.

Can you build a social value into the strategy for your existing company?

When you start a company, it is easy to put social value at it’s core. But can you build a social value into the strategy for your existing company? Of course you can. WeightWatchers has recently moved away from just counting calories and now supports healthy habits in real life. Lego has always been socially useful. Its reputation, however, has been tarnished by overly technical products and above all by little consideration for where the raw materials came from and how they were processed. Today Lego is number 1 on the RepTrak list of companies with the best reputation worldwide.

Yes, I know what you’re thinking and you’re right. Many companies claim to do only good things. And often do the opposite, namely to increase returns with little concern. As always in life: Don’t look at what they say, look at what they do! And please: Do not confuse the few percent of large companies and corporations that are driven by analysts and shareholders to achieve maximum short-term profit. Please look at the more than 90 percent of companies that are owned and run by real entrepreneurs. Such companies don’t survive very long if they behave in a socially harmful way. There is too much competition for that and they have too little political power for that. It is precisely the small and medium-sized enterprises and the famous hidden champions that are strikingly often committed to a recognizable social benefit.

Turn your company into a robust future enterprise!

Make sure that growth and earnings are the reward for the social benefits you create. Make this the core element of your mission. Oh yes, Purpose is the new idea of the consultants. If you formulate your mission in a truly professional manner, the purpose is one of the five elements of your mission.

Now how do you find out what social benefits you already offer, can and should offer with your company? In the first step, make yourself aware once again: People always buy and pay for emotional effects. See the Opportunity Video No. 3.

You are probably familiar with the 17 Sustainable Development Goals of the United Nations. But what hardly anyone knows is that the 17 Goals are one level deeper specified in the form of 169 very clear targets. Here you can find all the problems and wishes of humanity, society and your customers, which are still waiting for solutions.

Your task:

Download the 17 sustainability goals and the 169 sustainability targets.

Get your team together.

Go through each individual target. All together or in groups. Please take your time. You won’t recognize the opportunities when you just fly over them.

Prioritize your list of ideas for your social contributions.

Work out the three highest-rated ideas and decide.

What do you think about this opportunity? Do you have any questions?

Have a bright future!

X

Book a strategy talk with Dr. Pero Mićićclick here

X

Further crisis opportunities

Crisis opportunity no. 01: Lead! Accept your role as leader and “hero” in the crisis

Crisis opportunity no. 02: Create a credibly positive “future we” for your team

Crisis opportunity no. 03: Focus your business model on an eternal need

Crisis opportunity no. 05: Intelligentize your business model now

Crisis opportunity no. 06: Virtualize your company

Crisis opportunity no. 07: Make your capability portfolio future-robust

Crisis opportunity no. 08: Use an opportunity radar