Looking Forward: “Purpose Over Profit” Will Drive the Big Business Strategy Trends of the Next Decade

If there is one major theme that will drive business trends over the next decade, it is the idea that purpose should come before profit. In 2018, Larry Fink, of BlackRock fame, penned a controversial letter asking companies to “serve a social purpose.” Fink doubled down on his call to action in 2019, saying that years of frustration over stagnant wages and uncertainty about the future was driving social unrest around the world, and that society, disappointed in governmental institutions’ failure to provide solutions, would increasingly look to the business world to address social and economic issues.