Rising from a new generation of social entrepreneurs is the “for-purpose” organization. This new wave of companies is a step away from the traditions of non-profit organizations and a step toward the efficiency of for-profit entities – a unique combination of a startup mentality and a mission for social betterment.
In the words of one of our buzzSpotters, for-purpose is all about “taking for-profit biz know-how and meshing it with non-profit ideals or missions to accomplish a goal.”
In short, it seems like something that matches right up with Millennial values.
To a certain extent, it does match up – but, interestingly enough, we found that Millennials generally trust not-for-profit organizations a bit more than they trust for-purpose organizations. While 80% trust not-for-profits, 76% trust for-purpose entities.
However, Millennials are still putting faith in for-purpose. 9 out of 10 believe that for-purpose organizations are actually making an impact in the communities they serve, and 58% would like to create their own for-purpose company or organization one day.
This bodes well for these organizations – particularly for those that Millennials already recognize as for-purpose entities, such as: Pencils of Promise, Habitat for Humanity, TOMS, Target, Whole Foods, and American Red Cross.
- Posted by admin
- On September 8, 2015
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