Where Are We Heading?
Let’s Pause and Reflect…
Imagine asking your child ''What is your aim in the future?'', and their response is simply, "To grow up." When you inquire further—"What will your goal be once you grow?"—this time they respond, "To grow even more."
Consider the archetype of an individual solely obsessed with unchecked growth, devoid of any true purpose—a person who seeks to accumulate vast wealth in the shortest possible time, aspiring to become the most powerful. In pursuit of this ambition, they often enter professions they have no passion for, engage in work that contradicts their beliefs, compromise their core values, and accept unethical propositions. Their relentless drive for financial dominance leads them to commodify everything and everyone, aiming to acquire and control all. Should they achieve success, this pursuit eventually causes them to succumb entirely to hedonistic desires, recklessly consuming resources for personal luxury and flaunting their wealth to assert superiority. Gradually, they abandon any sense of purpose and morality, descending into moral decay and profound emptiness. They not only miss the opportunity for self-realization but also transform into a tyrant—excessively consuming, exploiting the environment, obsessed with vanity, and imposing their will on others for selfish gain.
This is the dark side of capitalism.
Capitalism's "for-profit" approach has led to a purposeless cycle. By its nature, capitalism focused on growth but did not associate this growth with any clear social purpose beyond making profits and paying taxes. This aimless focus on growth, resembling cancer, has at times turned companies into entities that exist despite life itself. Every means was considered acceptable for-profit maximization. Nobel Prize-winning economist and pioneer of monetarism, Milton Friedman, reportedly said: "Breaking the legal restrictions that governments impose on market efficiency through regulations is called corruption."
This desire and encouragement for rapid growth, which even sees laws as obstacles, has transformed people into individuals who disregard purpose and values—focusing on rapid growth, accumulation, and hoarding at any cost. They showcase the resources they've gathered and aim to control everything and everyone around them. Collectively, we have focused on consuming the world's resources at a competitive pace. Today, whether or not companies have associated their growth plans with a purpose, these are actually the real goals of most businesses: to provide a lavish lifestyle to their top management, founders, and investors, allowing these individuals to establish control over life using the company's resources.
We now encounter the damages of this rapid growth focus that lacks purpose and values in every area of life. The race for consumption and ostentation has brought us to the brink of a sixth extinction—six of the nine planetary boundaries have been crossed, and we are destroying forty thousand species per year. According to Stephen Hawking, humanity may be living its last century on Earth.
In a scientific article published in Science Advances in 2023, it was revealed that six out of the nine planetary boundaries necessary for the continuation of the human race on Earth have been exceeded.
Our relentless pursuit of unchecked growth and control—aiming to dominate everyone and everything—has culminated in a world where a staggering 60% of global wealth is concentrated in the hands of the top 1%, while half of humanity endures severe poverty, surviving on household incomes of just $1 to $8 per day. Income inequality today is more pronounced than it was during the eras of kings and queens. Our data is monopolized by companies collectively known as GAMAM—Google, Apple, Microsoft, Amazon, and Meta. The international community, increasingly aware of this glaring inequity, grows uneasy with the concentration and monopolization of power. For example, a survey conducted by Gallup in the US in 2020 noted that sympathy for socialism rose to 50% in the 18-29 age group. However, what young people understand by socialism is not a model similar to the Soviet Union or communism. Young people essentially infer from this word to care for the environment, small businesses and protecting citizens. According to another Gallup study in 2021, while the public in the US trusts small businesses 97%, free enterprises 84%, large corporations 46% and the federal government only 38%. People think that the federal government wastes 51 cents of every dollar.
In response to this alarming trajectory, the PurposePact initiative was established. We urge every organization to declare a manifesto that places the fight against significant social issues at the core of its mission, transparently outlining its strategies. We advocate for the development and expansion of products and services aligned with this mission, dedicating all available resources to maximize positive impact. Through this approach, we believe that companies' financial growth will be reinvested into creating meaningful value for society, thereby enhancing the quality of life for all.
Companies must transcend their traditional roles as mere vehicles for generating wealth for founders and shareholders or as providers of goods and services to consumers. They need to transform into collective entities driven by a unifying philosophy, embracing a mission to make the world a better place. Without this transformation—without companies genuinely confronting social issues through their offerings—our ability to address pressing global challenges remains uncertain, especially in light of a growing population, the immense concentration of power in the hands of a few, and an economic model propelled by insatiable desires.
Let us remember the words of Mustafa Kemal Atatürk: "Every factory is, in fact, a fortress."
Isn’t generating social impact the role of associations and foundations?
Why not leave these responsibilities to them?
In Canada and the United States, the biggest challenge for associations is their small staff size, coupled with the constant turnover of their volunteer teams.
Numbers Speak Louder Than Words:
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As of 2022, the biggest challenges faced by associations in the U.S. were high operational costs (43.37%), lack of volunteers (41.07%), difficulty in finding qualified staff (40.11%), and constant turnover of volunteer personnel (30.12%).*
Volunteering doesn’t pay the bills. Consequently, volunteers are unable to sufficiently engage with these social issues alongside their primary jobs that provide them with a livelihood.
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In 2021, 60 million volunteers in the U.S. dedicated an average of 67 hours to socially responsible activities.* Meanwhile, during the same period, 152 million employees* in the country worked over 2,080 hours annually.*
Why not transform commercial enterprises into entities that operate with the spirit of NGOs, unleashing a tremendous force for good?
We believe every institution can dedicate itself to addressing social issues through the products and services it provides. It can align all of its business activities with a specific mission.
How, you ask?
It's Simple!
The company will publicly declare, through a "Trust Report" and "PPact Test" from an authorized Independent Audit firm, that all expenditures are directed towards addressing the social issue it embraces, that profits are not distributed to founders, investors, or top executives, that it avoids extravagant consumption, and that it refrains from paying excessive salaries/bonuses to managers and employees. This transparency will enhance the trust and loyalty of its employees, suppliers, customers, and the general public.
The company will demonstrate to everyone that its primary focus is its mission.
By embracing this approach, trillions of dollars in global commercial revenue could be redirected toward combating social issues through genuinely impactful products and services. Companies would then have a meaningful purpose beyond merely profiting from sales—they would be dedicated to making our world a better place.
How Are Profits Related to Purpose?
"Purpose-driven" is the new trend
Capitalist actors have realized that crafting an inspiring manifesto aligned with a company's vision, mission, and purpose can boost revenues. Unfortunately, some have begun to exploit this realization as a tool for manipulation. Larry Fink, the CEO of BlackRock—a global asset management firm overseeing trillions of dollars—stated in his 2022 letter to investors, "We are capitalists, not environmentalists." Yet now, he urges companies to focus on purpose and not view them merely as money-making machines.
In the 1960s, when brands began taking the first significant steps towards branding, they marketed emotions like love, trust, intelligence, or luxury to their customers and employees, leveraging the excitement these emotions created to boost sales and appeal. Today, these have been replaced by poetic missions and manifestos aimed at "saving the world."
But how many companies are sincere about this?
The most telling indicator of a company's sincerity is money. If a company spends its funds enriching its executives, founders, or investors, while telling its stakeholders, "We are, in fact, a family focused on social purpose," it is exploiting them. To prevent manifestos and purpose from becoming mere tools of exploitation, the words of founders, executives, and investors must be substantiated by their actions and personal financial conduct.
Proving your heartfelt commitment to a purpose is as important as declaring it.
When founders, executives, and investors keep their personal earnings at reasonable levels, they set a powerful example for all stakeholders to focus on the common purpose. In such an environment, employees are motivated to prioritize the organization's mission over their own comfort zones, pleasures, and personal interests. Over time, this fosters a culture of collective effort and collaboration within the company. United by this shared focus, the organization can develop more original and innovative products. Driven by the desire to amplify their mission, they make their products and services more accessible at reasonable prices, thereby touching the lives of more people. Systems that move away from exploitation do not attempt to exploit life itself. Since rapid growth is not their primary objective, they decline unethical offers and are less likely to engage in corruption or unlawful practices. Organizations where the commitment to excellence surpasses the pursuit of mere growth are much more willing to comply with environmental protocols, sincerely focusing on achieving the highest standards for everyone through the products they create in alignment with their purpose.
An individual's focus on personal pleasures confines them to their comfort zone, whereas focusing on social purposes directs them toward the well-being of their community.
When companies prioritize shared purposes and values over individual gratification, the quality of life improves.
In this way, capitalism can evolve into a model that fundamentally serves social ideals.
Company profits then transform into a more equitable social environment, lasting solutions, and a more livable world for all of us.
What You Need to Do to Join This Movement is Clear:
Purpose Pact Action Chart
STEP 1
Declare Your Manifesto
As an organization, determine a purpose of existence for your organization in the light of the feedback collected from your founders. In line with this purpose, decide what social problems your organization will be dedicated to fighting.
In this manifesto, briefly highlight the identified need and your proposed solution.
Provide a detailed explanation of how your products and services contribute to addressing the social issue you have identified.
STEP 2
Develop a strong sense of unity
Develop a strong sense of unity among your employees and customers to ensure sincere, effective, and collective efforts are made in line with your company’s manifesto.
To achieve this;
1.) Prepare an open and categorized salary/bonus table for all employees within the organization and publish it on your website. Ensure that the gap between the lowest and highest income (e.g., CEO/Board Chair) does not exceed seven times. The maximum executive income (including bonuses and incentives) should not be more than 15 times the minimum wage in the country where you operate. If an owner is actively involved, they should also receive an executive-level salary proportionate to their contribution. If founders are no longer involved in the company, provide them with a fixed "retirement" stipend of up to ten times the minimum wage. By demonstrating their financial commitment to the mission, founders and top executives set an example for all stakeholders and the public, ensuring that salaries are realistic, disparities are minimized, and all salaries are sufficient for a healthy lifestyle without allowing for excessive wealth.
2.) Do not distribute dividends or engage in extravagant spending. Instead, direct all profits toward investments aligned with your manifesto to extend the reach of your products and services to more people, thereby maximizing the positive impact created.
3.) As an organization, actively collaborate with all your stakeholders to host free events that advance your mission. Conduct purpose-driven awareness activities through conferences, workshops, and meetings. Strive to contribute to the public good by partnering with lawmakers, universities, municipalities, and relevant NGOs. Inspire people to take action aligned with your mission and enhance your capacity for collective mobilization.
4.) Annually assess the strength of the collective unity within the company through the "PPact Test," which will be conducted anonymously with employees and stakeholders.
In this way, employees, customers, and suppliers, aware of each other’s earnings, receiving fair payments, and convinced that the manifesto is the priority, will be wholeheartedly dedicated to your mission—enhancing your impact.
STEP 3
Prove Your Commitment
Announce to the public, through an annual "Trust Report" from an Independent Audit firm, that all salaries and payments are paid in accordance with the published scale compatible to PurposePact criteria, no dividends are distributed, and a score of over eighty is achieved on the PurposePact Test.
This will demonstrate your adherence to PPact criteria and principles.