ABCD

PURSUING PURPOSE IN BUSINESS

Importance of Purpose

It is to give people in an organization a North Star -something to bring them together, something that is helping people, impacting people’s lives in a way beyond just turning a dollar. And so, it is getting to the fundamental question of:

Why are we in business beyond making money?

What’s our point here?

What was the founder’s idea?

What is that concept that brings people together, gives them a bit of lifting their step, and brings them to work with new ideas, energy (and) enthusiasm every day?

(That’s) such a long-winded way of saying it’s the “why” behind what businesses do for a living. And the more powerful the “why,” the more powerful the business.

PURPOSE DRIVEN ORGANIZATION CULTURE

There’s a growing database that (shows that) companies that are seen by people, consumers (and) employees as being purpose-driven far exceed their competition in terms of business results, financial results. So, it works. It helps the company grow. And the “why” behind why it works is:

It attracts better people.

It encourages people to bring their best ideas.

It kind of causes you to measure different things.

It helps you be more customer-centric.

It helps you to have more of a service and a generosity mindset.

And overall, it just creates a great culture.

Brands and businesses are grown by people, and great cultures attract great people, and great cultures grow brands. So, it works. Once you’re in a purpose-driven organization, it’s tough to leave it, and it’s tough to go to one that is not wired that way.

PASSION & PURPOSE GO HAND IN HAND

If you’re working for a company that you really believe in and a leader you really believe in and a team you really believe in, you bring a tremendous sense of passion and energy and creativity to your work.

LEADERS

The bond with teams, among teams, are driven by the leader and how they work with their team . Over last 12 months, a stronger than ever bond has seen, what’s happened is, leaders have gone above and beyond on caring about their people — their mental health, their physical health, their balance in their life.  And that’s one very positive outcome of these very difficult times. They have given their teams the flexibility and the freedom to run their lives and to take care of what’s most important and  to be of service to their customers in all sorts of ways.

During pandemic, Some rituals – teams are having morning quick check-ins, evening quick check-ins (where they ask), “What has to be done today? How did we do today? Do we make decisions fast enough?” So, (there’s) a lot more empowerment, a lot more agility, a lot more speed — and, through that, a lot more creativity. We’re just finding ways to do things that we’ve never done before, and that feels good. The companies that are purpose-driven think very deeply about, “Are we offering the right level of products and services that emanate from our purpose, that are inspired by our purpose, and that genuinely do help people in our area in a way that delights them, reduces friction, makes your life easier, makes your life more joyful, makes your life richer?” And so, then, there are a lot of companies who get stuck in the current products and services that they’re offering, and they get a little bit functional. When you have a purpose that transcends the category that you’re operating in, hen your employees come up with interesting products or services that are beyond what you’re offering today. And that’s a sign of a very creative customer-centered, purpose-driven organization. You need to stay in a space where you can generally make a difference based on the capabilities in your company. And, of course, there are some areas that transcend that. if you’re not seeking to attract a diverse group of employees and you’re (not) working on an inclusive culture that welcomes everyone to bring their best ideas to work, then you’re going to be stuck about attracting the best talent. But when you pick an area that you want to make a difference in and help society, it should be something that you can genuinely affect, or it’s going to be seen as greenwashing, and it’s not going to be authentic, and it’s not who you are.

One danger in the purpose journey is that everyone is not on the same page, and some companies see purpose as a marketing initiative or a corporate affairs initiative, and (in) that (case), it does not work. In fact, it backfires. When you’re on the purpose journey, everyone’s in the boat. Everyone has a role. It breaks down silos. Everyone comes together, and that includes everything you do in branding. So, these aren’t functional or discipline ideas. These are ideas within our company.

Purpose is the management philosophy of the century. It was seen as a little bit, maybe, but what’s happening is people are now seeing the growing data that (proves that) purpose is what people want. They want you to be purpose-centered. They want to be customer-centric. They want you to attract really great people, and they want you to help them live their lives more sustainably and more happily. It’s going to get stronger and stronger. And the competitive battleground is going to be the companies that are more long-term focused, that are more committed to this, that execute better, that are more creative in how they execute. So, it’s not going to be about, “Are you purpose-driven or not?” It will be about how well that you inculcate that in your culture and how well you execute that for your customers.