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Purpose is a reason for being that is grounded in human values
An authentic purpose functions as a company's "True North", guiding its strategies and behaviors. It provides a moral compass for decision-making beyond just profits.
Benefits of Purpose
Cultivating a sense of purpose beyond products and services provides many benefits. It boosts employee satisfaction, fuels innovation, strengthens stakeholder relationships, and builds trusting brands.
Companies should look inward to discover their guiding purpose.
It often requires deep contemplation of the founders' visions and analyzing how the company's competencies address human needs.
Hiring, training, products, partnerships, and incentives should activate purpose, not just talk about it. Otherwise, purpose rings hollow.
Governing policies and structures should safeguard purpose.
Executive compensation, shareholder communications, CSR initiatives and impact reporting should be guided by purpose, not undermined by it.
Technology helps but it doesn't solve everything. I want to understand my own body.
In Deep Purpose, Harvard Business School professor Ranjay Gulati examines how leaders and organizations can cultivate a deeper sense of purpose that drives meaningful growth. Through research and examples, he provides a framework for aligning company values with value creation.
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