The Dual-Purpose Playbook

Corporations are being pushed to dial down their single-minded pursuit of financial gain and pay closer attention to their impact on employees, customers, communities, and the environment. But changing an organization’s DNA may require upending the existing business model and lowering profitability, at least in the short term. Our research suggests that successful dual-purpose companies build a commitment to creating both economic and social value into their core activities. This approach, which we call hybrid organizing, includes: setting and monitoring social goals alongside financial ones, structuring the organization to support both, hiring and mobilizing employees to embrace them, and practicing dual-minded leadership.