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"It's clear to me that businesses in the future will not be permitted to grow without purpose," Todd Tillemans, president of Hershey's US, tells Bloomberg in a profile of Purpose-Driven Entrepreneurship.
"The health and prosperity of our brands directly enable us to make a unique and significant impact in the world."
To that end, Purpose-Driven Entrepreneurship is on the rise, with more and more businesses looking to incorporate social and environmental impact into their bottom line.
"Consumers are paying attention to how brands spend their time and money," Mike Wilson, co-founder of Medicinal Media, tells Bloomberg.
"An estimated 52% of American consumers deliberately buy from brands that support important causes, and 36% expect brands to support social causes."
A recent Nielsen report found that 55% of consumers don't believe brands are making meaningful progress in this direction, but Purpose-Driven Entrepreneurship is growing in popularity, with some big names like Jada Pinkett-Smith, international yoga influencer Adriene Mishler of Yoga with Adriene, and civil rights attorney Terry Gross among those supporting the movement.
"The challenges we face today, from mental health awareness to social inequality, require bold and innovative solutions," Mishler says in a statement.
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Spotlight
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