Storytelling for Purpose and Profit at Oxford

Yesterday I had the honour of teaching another module for Mutual Value Labs at Oxford Saïd Business School.

My session was titled “Storytelling for Purpose, Persuasion and Profit”.

Mutual Value Labs helps organisations by Putting Purpose into Practice (the title of the book on the subject edited by Colin Mayer and Bruno Roche).

Profits usually follow.

That’s why this new approach to business is called “Economics of Mutuality”. It creates Mutual Value for intentionally included stakeholders. Not mere redistribution – actual value creation.

But getting from ‘Purpose’ to ‘Profit’ requires consistent ‘Persuasion’.

Storytelling is the missing link in Change

When it comes to driving bold change, organisations often have a great theory and plan.

It often fails because of people – culture and communication issues.

The goal of my involvement is to equip participants to bring what they’re learning back into their organisations.

Driving change at this fundamental level requires powerful storytelling.

How do we see our business?

How do we see business in general?

How can we help others to see what we see?

These foundational questions depend on our frame – or narratives. Narratives can and should occasionally be questioned. Reframed. Then intentionally shared to get buy-in for change.

My Oxford connection – Creativity comes from collision

Teaching at Oxford again was especially meaningful for me given my family history.

In the early 1900s, my Indian grandfather broke with thousands of years of family tradition. Instead of going into business, he read English at Oxford and returned home as a Professor of English.

I took the opposite route. After publishing three novels by age 21 and being a full-time writer for a decade, I eventually went into business.

My brother Ranjeet read theology at Magdalen College at Oxford before becoming a banker.

Creativity comes from collision!

Systematise Storytelling for Business Objectives

The above, by the way, was what I call a Bridge Story™: a simple story that creates a connection and empathy between the storyteller and audience. It does this by emphasising a shared experience or value.

I started my session by telling a Bridge Story™ because before we can hope to make a message connection, we must first establish a messenger connection.

Messenger before message.

Why did I start with this particular Bridge Story™?

• This course is at Oxford (same institution).
• Course participants are changemakers, so the idea of breaking the mould resonated (similar values/characteristics).

Next to the Bridge Story, we explored several other Story Types — and how to bring them together in a cohesive narrative that makes a bold case for change.

Business Storytelling guide

To provide us with a common narrative vocabulary, course participants are using my concise guide, Business Storytelling from Hype to Hack.

It’s incredibly rewarding to see how people apply these principles to their field. Especially when the results follow.

Sometimes you need to storify your strategy.

Sometimes it’s as simple as starting with a Bridge Story™.

Learn how to create Mutual Value at your Organisation

If you’re a mid-level or senior executive, Mutual Value Labs has an impactful course tailored to you (virtual and hybrid in-person).

Join colleagues from diverse industries around the world as we put purpose into practice, using frameworks from the Economics of Mutuality (EOM) and storytelling.

—

Jyoti Guptara is a bestselling author and global keynote speaker. His Story-based consulting and training programs help leaders experience more success with less stress.