Monthly Archive: February 2011

Thought of the day: adding societal value CREATES markets for corporations.

One example: lululemon helps foster entrepreneurs in the health and fitness industry through various community programs. Quite a few gyms, studios, and fitness providers have acknowledged that lululemon has significantly contributed to their ability to promote health in their communities. How? Through its sponsored employee fitness allowance that provides full time employees with two free classes per week in studios in their local communities. As well, there are many stories of mat and accessory donations to various gyms and schools. It is simple math: more people who go to yoga and the gym mean more people need workout gear.

Every lululemon store has a charity budget with a mandate of finding a local charity to help enhance their local neighbourhood. Furthermore, during this last recession in 2009 and 2010, lululemon stores offered additional free fitness classes in the stores, not fewer. When people most craved the health benefits of yoga and fitness, lululemon stepped up to the plate. Whereas many old school corporations may find this as an unnecessary expenditure or marketing expense, lululemon calls it the right thing to do given its vision statement of ‘elevating the world from mediocrity to greatness’. Results: sales were up during the recession and $100 million was added to the coffers during the worst recession in modern history.

Question: how can you entrench the new skool behavior of adding societal value throughout your value chain? And how can that impact the marketplace in which you operate

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