The Business Case for Purpose

Published: 14 August 2019

Around the world, the business environment is in a permanent state of disruption. Today more than ever, companies are searching for a new genetic code that will help them continuously evolve - to survive and to thrive.

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Businesses face an accelerated pace of change as digitalisation, disruptive business, and rapidly Businesses face an accelerated pace of change as digitalisation, disruptive business, and rapidly changing consumer expectations reshape their world. At the same time, the demands of a new generation of employees for meaning in their work, the declining levels of trust in companies,and a wider debate about the role business can or should play in society are reshaping expectations of organizations.

Over the past few years, a growing number of corporate leaders and experts have spoken out about how a strong shared sense of purpose can help companies meet these new challenges and transform their organizations. In order to understand why, and more importantly, how, companies are employing purpose to guide and lend impetus to their transformations, Harvard Business Review Analytic Services conducted a survey sponsored by the EY Beacon Institute

The global survey of 474 executives found that although there is near-unanimity in the business community about the value of purpose in driving performance, less than half of the executives surveyed said their company had actually articulated a strong sense of purpose and used it as away to make decisions and strengthen motivation. Only a few companies appear to have embedded their purpose to a point where they have reaped its full potential.

But in those organizations where purpose had become a driver of strategy and decision-making,executives reported a greater ability to deliver revenue growth and drive successful innovation and ongoing transformation.

Download this Harvard Business Review paper called The Business Case for Purpose

 

Build your brand with purpose

A brand is a person’s emotional response to a product, service or company. It exists in the minds of the customers. Trust is its foundation, and customers trust a brand when their experiences of it repeatedly match or exceed their expectations.

Each and every employee is entrusted with the reputation of a company’s brand. It is through them that customers experience the brand – and that experience either enhances or damages it.

It depends entirely on the quality of service the customers receive.

 

How do you create purpose?

  • Articulate the WHY of your organisation
  • Consider how to link the WHY to the outcomes of each job
  • Get the message across to every individual and team and continue to reinforce it

To read more download our eBook, Build your brand with purpose.

You need this done! We know how to do it. We want to come and talk to you about our proposition, Contact Us.

 

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