Many of you will have read about the importance for business of having a clearly articulated core purpose as a grounding for all decisions that your people make in all areas of your business every day.
You have probably seen or heard of particular examples of companies such as Disney, South West Airlines and Nordstrom (amongst others) being held up as shining examples.
However, what really makes a particular core purpose truly effective? The attached article is well worth a read, outlining 7 questions you need to ask when considering your organisation's core purpose...
Organizations with a strong sense of purpose are more likely to say they encourage innovation, record positive growth and outgrow competitors. And for consumers worldwide, purpose is the new paradigm, with almost 9 out of 10 global consumers wanting businesses to place at least equal weight on society’s interests as they do on businesses’ interest (Edelman Annual Global Goodpurpose Study). Yet very few company purposes actually make a difference. Leadership often fails to set an example for the rest of the organization by truly living the organization’s purpose. Purposes are not always significantly embedded in people performance management. Sometimes, purposes are even false, inaccurate or misleading, in an artificial urge for companies to ‘stand for something’. The following questions will help you craft a purpose statement allowing you to make a genuine difference and long-lasting impact.