How do we develop meaningful brands?
In a nutshell:
Today’s episode of Bosses for Breakfast features Morten Albæk, the founder of Voluntās, an advisory firm that specializes in culture, strategies and investments that create a meaningful impact.
Morten Albæk is the only Scandinavian to be selected five times for the Internationalist’s Top 100 Most Influential CMOs in the world. Morten studied philosophy and history but realised there were few jobs available in those fields. Saved by his brother, who arranged an interview for him with a financial sector executive that was open-minded enough to hire people with unique skill sets. Morten was promoted many times and became the Senior Vice-President of Idea Generation and Innovation, but after six years there, his father became ill and passed away at 64, which changed his mindset dramatically.
“Leaders can move forward trusting employees, providing a clear purpose and allowing their people to develop and grow.”
Morten, 32, then began investigating different industries and different ways to work after realising that perhaps he only had half his life left as well. He was invited to be the CMO at Vestas Wind Systems, the largest manufacturer of wind turbines in the world. The opportunity allowed Morten to be a part of a truly global, multicultural organisation. The challenges there were great with the economic downturn in 2008, which resulted in the company decreasing from 23,000 to 16,000 employees. Out of this era, Morten discovered that the two primary reasons keeping the company afloat, purpose and belonging, were not being measured or invested in. Morten’s job as an honorary professor allowed him to look deeper into how to measure and foster meaningfulness as the epicentre of a workplace. Once he determined the solution and process, he left his job to start Voluntās, to share this important work and help other companies succeed sustainably.
what makes it meaningful?
There are four things that will ensure a sense of meaning in life and at work: a clear sense of purpose, trustworthy and inclusive leadership based on caring, a sense of belonging, and personal growth. Morten’s most recent book, “One Life: How We Forgot to Live Meaningful Lives”, soon to be available in English, looks at today’s reality, where more wealth no longer translates to higher wellbeing and how we’ve confused the concepts of satisfaction, happiness, and meaning. Morten explains how leaders can move forward trusting employees, providing a clear purpose and allowing their people to develop and grow. Similarly, meaningful brands have four building blocks: a functional product, a price point that drives perceived value, making a difference in people’s lives, and having a positive impact on society.
Links:
- Buy Morten Albæk’s book One Life: How We Forgot to Live Meaningful Lives