Corporate Purpose: Is Your Business Missing Its True North?

Welcome to the CanadianSME Small Business Podcast, hosted by Maheen Bari, where we explore the strategies and insights that are shaping the future of responsible business leadership. Today, we're diving into critical topics like corporate purpose, ESG strategy, and social impact – areas that are becoming increasingly vital for organizations aiming for sustainable growth and meaningful contribution. Our guest today is Elspeth Murray, Director, Centre for Entrepreneurship, Innovation, and Social Impact at Smith School of Business at Queen’s University, renowned for its excellence and leadership in business education.Key Highlights:1. Corporate Purpose: What it truly means for a corporation to have a strong purpose beyond profit maximization, and how to integrate it into core operations.2. ESG Strategy: How small and medium-sized businesses can develop and implement an authentic ESG strategy, with low-cost, high-impact ways to improve social and environmental impact.3. Social Impact: How businesses, particularly SMEs, can contribute to positive social change and the benefits they can gain from engaging in social impact initiatives.4. The Risks of Superficial DEI Commitments: The long-term risks organizations face when DEI commitments are superficial and not fully embedded into measurable actions.5. DEI Strategies and Business Outcomes: How effective DEI strategies can improve business outcomes, such as innovation, talent retention, and financial performance.Special Thanks to Our Partners:RBC: https://www.rbcroyalbank.com/dms/business/accounts/beyond-banking/index.htmlUPS: https://solutions.ups.com/ca-beunstoppable.html?WT.mc_id=BUSMEWAGoogle: https://www.google.ca/A1 Global College: https://a1globalcollege.ca/ADP Canada: https://www.adp.ca/en.aspxFor more expert insights, visit www.canadiansme.ca and subscribe to the CanadianSME Small Business Magazine. Stay innovative, stay informed, and thrive in the digital age!Disclaimer: The information shared in this podcast is for general informational purposes only and should not be considered as direct financial or business advice. Always consult with a qualified professional for advice specific to your situation.