Bottomline- The 21st century brand needs to operate with purpose

The old time view for businesses was that they existed simply to make money and that social impact needn't be a consideration. This 1962 definition makes it absolutely clear- “one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits, so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."

Then came the era where having a "purpose" became a buzzword and so brands everywhere crafted one for themselves that gathered dust on the home page of their website and never saw the light of day.

In the 21st century though, your purpose cannot be profit. Neither can it be just a written memo. Your purpose needs to be the intrinsic reason for your existence and it must create a solution that drives profit.

While this may sound daunting and unnecessary, having a deep-rooted purpose has an upside for businesses as well. “The sense of being part of something greater than yourself can lead to high levels of engagement, high levels of creativity and the willingness to partner across functional and product boundaries within a company, which are hugely powerful,” -Rebecca Henderson, Harvard professor.

Henry Hicks from givenagency.com very beautifully notes that your purpose is serious and important. But that doesn't mean you cannot make space for joy, humour, and warmth and not all doom is gloom.

Let your purpose think of the the future you wish to see and play a part in creating, and execute it with love, joy and fun.