Beware the industry impunity illusion It would seem that some industries have a bigger purpose hill to climb, but the reality is that some industries have a lot directly at stake and some have a lot indirectly at stake. All industries, however, have significant skin in the purpose game. Consider direct-to-consumer industries in which What consumers lack in power of choice, they make consumers have abundance of choice. Industries up for in power of voice. Who listens to their voice? such as consumer goods are typically fastest to Weighty and influential stakeholder groups like experience the financial impact of purpose-driven regulators and investors, the latter of which has consumer sentiment. A company has a preventable decidedly taken a front seat at the purpose table. misstep, consumers take to social media, some A recent article reported that a growth of sustainable consumers switch, and the company pays the price. funds and socially responsible investors is lifting share prices for U.S. water utilities as investors seek to inject On the other hand, direct-to-consumer industries 7 more money into socially responsible companies. in which consumers have little to no choice, such as But what the purpose-led investor community giveth, utilities, might feel like they have less at stake with the purpose-led investor community can taketh away. regard to purpose primarily due to consumers’ inability to switch. But the court of public opinion has more power than ever, so this is less and less the case. 6 | GENERATION P(URPOSE)