Five ways to harness the power of purpose.
A company’s purpose statement serves as a north star. Follow these simple steps to find yours.
By: Sally Blount & Paul Leinwand | Published by Strategy and Business 08/10/2022
Leaders instinctively understand the value of corporate purpose. They know that, when it is well articulated, a company’s purpose statement—or the best proxy for it, such as a mission or vision statement—serves as a north star. It is a reminder of what matters most and provides clarity to employees, managers, and leaders about how to focus amid the cacophony of daily, competing demands. Yet in our work with leaders across industries and markets, we’ve seen many struggle to communicate a meaningful purpose that builds employees’ conviction about why their work matters. Worse still, purpose statements often fail to articulate the outcomes that will enable companies to win in today’s market.