John Wood, Room to Read: "Purpose enhances profitability"
Marisa Drew, Credit Suisse CEO Impact Advisory and Finance Department, talks to the Room to Read founder about incorporating philanthropy in business DNA and his latest book "Purpose Incorporated. Turning Cause into Your Competitive Advantage."
John Wood is very familiar with both sides of the coin: the corporate world and the NGO world. He was a successful manager at Microsoft when he decided to leave and launch Room to Read, a charity dedicated to offering education to underprivileged children in the remote parts of the world.
Over the last two decades he managed to expand the NGO across Africa and South Asia, and involve a huge number of corporations and entrepreneurs to support his case. The message he sends to the corporate world in his latest book "Purpose Incorporated. Turning Cause into Your Competitive Advantage," is to unite profit with profitability.
"We believe that business is stronger when they can incorporate purpose into the very DNA. I interviewed over one hundred business leaders to answer the question: Can purpose be something that is not antithetical to profitability but that actually enhances profitability?"
He states that the launch of the Credit Suisse Impact Advisory and Finance Department is a perfect example of the diminishing division between for-profit and non-profit sectors.