Why Purpose Matters for Companies

July 4, 2012 — Leave a comment
Purpose is a definitive statement about the difference you are trying to make. It is the organization’s fundamental reason for being. It is a combination of vision, mission and values. Purpose reflects the importance people attach to a company’s work and it speaks to the deeper reasons for an organization’s existence beyond making money.
In recent months, I have been studying the qualities of successful leadership organizations and discovered the importance of purpose as a tool for guiding people in the right direction so that they can achieve results for the organization,team and themselves.
Not all companies have a Purpose – but enduringly successful ones do. Purpose is the guiding beacon of successful organizations.
A strong purpose can help recruit passionate people to your organization. An organization with a strong sense of purpose
Some examples of corporate purpose statements include:
  • Southwest Airlines – “To give people the freedom to fly”
  • BMW – ” To enable people to experience the joy of driving
  • AARP – “To champion positive social change that will enhance the quality of life for all as we age
To quote Peter Drucker on the importance of purpose, “That business purpose and business mission are so rarely given adequate thought is perhaps the most important cause of business frustration and failure.”
Question: Does your organization have a clearly defined purpose that employees live everyday?

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