Who cares about organizational purpose and corporate social responsibility,and how can organizations adapt? A hypermodern perspective

Organizations are becoming increasingly mindful of their purpose, clarifying their raison d’etre and fulfilling their economic, social, governance, ethical, and environmental responsibilities. One of the drivers for this behavior is stakeholders’ interest in purpose-driven organizations committed to creating positive value in society. However, less is known about these stakeholders: who they are, why they care, and how organizations can adapt in response. In this article, I use the theoretical framework of hypermodernity to propose that a specific type of stakeholders, identified as hypermodern individuals, may care about purpose-led, responsible organizations. This article highlights five characteristics of these individuals that may explain why they care, including their desire to contribute to a humane and caring world and their love for experiential consumption. Furthermore, I offer recommendations for managers on how to create actionable strategies to implement and communicate purpose and corporate social responsibility to this stakeholder group.