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The Power of a Purpose-Driven Strategy and ‘Purpose Accounting’ in Shaping a Multi-Capitalist Approach to Management

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Mark McElroy & Matt West - Everyone’s heard of financial performance, asset performance and sustainability performance. Now comes ‘purpose performance,’ a new measure of organizational performance that assesses impacts relative to the voluntary commitments organizations make to provide public benefits, contribute to the achievement of the SDGs, or to generally pursue beneficial purposes of one kind or another. Leading experts are calling performance accounting for purpose, ‘purpose accounting.’ This session will explore how a purpose-driven strategy can shape a multi-capital approach to management as well as a new system of purpose accounting.

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The Power of a Purpose-Driven Strategy and ‘Purpose Accounting’ in Shaping a Multi-Capitalist Approach to Management

  1. 1. The Power of a Purpose-Driven Strategy and ‘Purpose Accounting’ in Shaping a Multi-Capitalist Approach to Management MATT WEST Griffith Foods MARK MCELROY The MultiCapital Scorecard: Rethinking Organizational Performance @mwmce
  2. 2. © CONFIDENTIAL: Griffith Foods 2016. This presentation may not be reproduced or distributed in whole or in part or the information contained therein may not be used without the prior written approval of Griffith Foods. Our Journey to a MultiCapital Scorecard

  3. 3. “WE BLEND CARE AND CREATIVITY TO NOURISH THE WORLD”
  4. 4. Albania Sage Griffith Sustainably Sourced
  5. 5. India CHILI PEPPERS Griffith Sustainably Sourced
  6. 6. Sustainability Drives Business Growth & Innovation Business Effectiveness Reactive Resist until forced Responsive Comply with regulations Proactive Manage potential risks Advantage Innovate for business advantage Sustainability Sustainable triple bottom line
  7. 7. PURPOSE INITIATIVES EXTERNAL MEASURES (SDG’s) STRATEGY (WTP/ HTW) METRICS (MCS) COMPENSATION (KF REDESIGN)
  8. 8. SDG Goals SDG Assessment
  9. 9. SDG Sub-goals Strategic Griffith Capabilities Specific Griffith Initiatives 8.2 Economic productivity and technological innovation Multi-stakeholder partnerships 2.1 End hunger/ensure access by all 2.2 End malnutrition 2.3 Productivity of small holders 2.4 Sustainable food production systems 12.2 Efficient use of natural resources 12.3 Reduce food waste and loss 12.5 Reduce waste generation
  10. 10. PURPOSE INITIATIVES EXTERNAL MEASURES (SDG’s) STRATEGY (WTP/ HTW) METRICS (MCS) COMPENSATION (KF REDESIGN)
  11. 11. 10
  12. 12. Scorecard Drill Down – People BOTTOM LINE DIMENSIONS OF PERFORMANCE AREAS OF IMPACT (AOI) CLUSTERS AOI # INDIVIDUAL AOIs INDIVIDUAL CONTEXT-BASED METRICS 1. Participation/Engagment % Participation Safety Performance Rating 3. Employee Fulfillment Fulfillment score 4. Talent Development Development Plans in Place People Community Involvement Employee Well-Being 2. Employee Safety Talent Management
  13. 13. 12 BOTTOM LINE DIMENSIONS OF PERFORMANCE AREAS OF IMPACT (AOI) CLUSTERS AOI # INDIVIDUAL AOIs INDIVIDUAL CONTEXT-BASED METRICS 5. Climate System Greenhouse Gas (GHG) Emissions 6. Solid Waste Solid Waste Sent to Landfills 7. Water Water Consumption 8. Raw Materials % Raw Materials Certified 9. Suppliers % Suppliers at Silver Level Climate System Solid Waste Water Sustainable Sourcing Planet Scorecard Drill Down – Planet
  14. 14. 13 BOTTOM LINE DIMENSIONS OF PERFORMANCE AREAS OF IMPACT (AOI) CLUSTERS AOI # INDIVIDUAL AOIs INDIVIDUAL CONTEXT-BASED METRICS 10. Portfolio Transformation % CM, $CM , by Portfolio Targets % Contribution Margin $ Contribution Margin 12. Return on Equity EVA 13. Food Safety BRC Audit Score/ %GPSI Plans Documented & Tested Purpose-Driven Innovation Performance Business Continuity Plans (Compliance Requirements) Financial Performance Contribution Margin11. 14. Enterprise Risk Management Scorecard Drill Down – Performance
  15. 15. Lessons Learned So Far….
 • Elegance in Simplicity • Language Must Fit Our Culture • Clear Connections to Our Purpose • Rigor Matters/Trust Experts • Willing to Accept Criticism

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