The overall trend that surfaced in this year’s Fit For Purpose index was collaborative thinking; the top purposeful brands are collaborating with stakeholders and partners within and outside the company to embed purpose in authentic and meaningful ways.
The index is considered Europe’s only extensive review of brand purpose and measures how well brands are putting purpose into practice. Out of the top 100 companies ranked, 83% demonstrated some type of collaboration, with nearly half demonstrating robust collaboration overall and 70% of the top 20 engaging in a long-term partnership related to their purpose.
“The 2016 index proves that the brands that are most fit for purpose are aligning with the overall trend of increased collaboration in business,” said Paulina Lezama, Radley Yeldar’s Head of Brand Strategy. “Whether brands are consulting different departments with the organisation when developing their purpose or they are partnering with companies from different industries to bring their promise to life, breaking down barriers to embrace collective thinking leads to stronger and more effective purpose work across the board.”
This year saw both new entrants and fast risers in the top 10, including British Land, Pfizer and Novo Nordisk. New entrant British Land came in at 4th place, partly due to their commitment to customer insights, having conducted 150,000 consumer surveys over the last 4 years. Pfizer rose an impressive 53 places since last year, to come in at 9th place, primarily due to its commitment to partnering with key stakeholders in order to increase its ability to deliver on its purpose. Novo Nordisk, climbed 33 places to number 5, thanks to a purpose built on guiding principles to help defeat diabetes.
To learn more about Fit For Purpose and to see the top 100 brands, simply visit the FFP Hub.
