As social expectations grow, organizations are increasingly focused on defining 'purpose'. This was a major theme at the 2019 World Economic Forum and momentum has continued, most notably with the recognition by 181 top CEOs that 'business needs a purpose beyond profit'.
The challenge with developing purpose is in part how it is defined, but even more how it is then measured. The social value movement is clearly a major contributor to this realization of purpose. As a concept it considerably pre-dates the awakening of the CEO community, but the last year has seen a surge in interest.