Companies utilise financial and intellectual capital to make a society better and as a reward for their efforts they make a profit, which can then be reinvested into the company to affect even greater change.
Great brands solve problems
Some of the worlds greatest brands have problem solving baked into their DNA. Think of how Patagonia, Uber, Apple, Google, Tesla and AirBNB have used modern challenges as their primary driver of brand building. Their value in existence is obvious, if they were not around, society at large would be the poorer for it.
The Nike FLYEASE Story
In 2012 Matthew Walzer—a 16-year-old junior from Parkland, Florida—sent Mark Parker [CEO of Nike] a letter. Matthew has cerebral palsy and struggles to tie his own shoelaces with ordinary sneakers. His letter was simply to highlight that the need existed for an easier solution for people with disabilities. He could have never guessed that his simple letter would result in the Nike FLYEASE and this video which details the story.
Capitalism is the greatest system for solving problems. It can easily be turned into something that just generates huge financial rewards for a few, but when done right – it makes people’s lives better and creates a better world for all.
Brands that answer that call, like Nike, tend to end up being more sustainable and fruitful in their efforts.