The Purpose Model
Traditionally entities are categorized as being either for-profit or not-for-profit. BCR is a new type of social enterprise, which we call a Purpose Entity. A Purpose Entity is an entity that derives a profit for the purpose of funding a cause. In the case of BCR, the bank is the entity, which derives the profit and cancer research is the cause.
As BCR is a Purpose Entity, the key factor that differentiates itself from it's competitors, is how BCR uses its profits.
Our Profit Differentiation Theory states that when there are two identical products, how the profits are used will differentiate the two products and determine the purchase decision.
When Profit Differentiation is applied correctly and two products are differentiated only by the way their profits are used, the consumer's purchase decision has now changed, they are no longer choosing between the two products, they are choosing who receives the profits from the sale and the consumer will select the product based on which use of the profits they deem most appropriate.
In relation to BCR, the consumer is given a choice about who receives the profits derived from their banking, they can choose to direct the profits to the shareholders of a competitor or they can direct their profits towards cancer research.
The Purpose Model creates four amazing outcomes:
Philanthropy for Everyone
Donate the profits generated from your banking services as opposed to your spare cash
We truly believe that deep down everyone would like to donate to charity. However the reality of life is that after the bills are paid most people are simply not in a position to do so. BCR brings philanthropy to everyone, by empowering our customers to donate the profits generated from their banking services, simply by choosing to bank with BCR. The most beautiful outcome of the purpose entity model is that everyone can share in the joys of philanthropy without incurring any additional personal costs beyond the cost of their banking services, which they would have incurred if they banked with a competitor.
Purpose for Thousands of Careers
Have a career in banking that has purpose while getting paid the same as your peers
For many people a career in banking and fiance can lacks purpose beyond a paycheck however due to the level of wages and their financial commitments, often to their families, there are not in a position to seek an alternative. Under the purpose model employees would receive the same level of wages as if they worked at a competitor.
Once BCR is established it will actively generate it’s own profits, and as such the funding of cancer research will be sustainable.
BCR is a new business model based on purpose beyond profit and the concept of sustainable philanthropy.The best way to explain the concept of sustainable philanthropy is to consider the old saying
'GIVE A MAN A FISH AND HE WILL EAT FOR A WEEK, TEACH A MAN HOW TO FISH AND HE WILL EAT FOR A LIFETIME'.
Open Source Cancer Research
No requirement to profit from concer research.
BCR has one goal which is to cure cancer. Unlike many others, there is no requirement to make a financial return from any medical breakthroughs that are achieved, as such BCR can share its findings with the world and contribute to open source cancer research.