Purpose in Business: Beyond ‘Business as Usual’
Purpose elevates the reason your business exists beyond the transactional to begin to power good in the world by doing business.
And that is good for business, good for society, and good for the economy.
So, what is Purpose in business and how is it different from all the other things?
Purpose in business is a company's reason to exist that optimizes its contribution to the well-being of people and planet.
Your business' unique Purpose becomes the decision lens on all that your company does, simultaneously driving business growth and societal good.
Purpose is not an action; it is what determines your actions.
Purpose provides focus for:
Philanthropy and community involvement
Corporate Social Responsibility (CSR)
Company Culture and Employee Engagement
Environment, Social and Governance actions (ESG)
What authentic Purpose looks like:
Your company's Purpose aligns with what your business is best at (its competencies and assets), yet...
It goes beyond products, services, satisfied customers and / or excellence in your industry.
How Purpose Works:
It engages employees, creating a productive and innovative corporate culture.
It is used as a decision lens to pursue or decline opportunities, making decision-making simpler.
It guides business strategy.
It has a clear value-add for the business and for society.
It offers an innovation lens on all you do revealing previously un-noticed business opportunities.
It inspires action making people feel like a part of the solution when they get involved as employee, customer, or partner.
Does your company have a Purpose like that? If it did, how would it benefit your business?
If you don't have this kind of Purpose, or you are not sure, get in touch – I can help!