Organizational Purpose

organizational purposeOrganizational purpose answers the most important question: Why does your business exist?

If your business exists just to make a profit, nobody, including yourself, will be inspired to do their best work for very long. Having a defined sense of purpose will inspire everyone in your business because it is a very powerful, emotional force. Organizational purpose captures the essence and the soul of your organization.

This may sound exceedingly existential or irrelevant to you, but the answer provides the emotional fuel that will drive you, your staff, and all of your stakeholders towards greatness.  Purpose is central or foundational to the formulation and implementation of all strategy because it aligns and directs an organization's behaviors and prevents them from pursuing opportunities that are inconsistent with its reason for being. Having a clearly articulated and well defined purpose for your company also supports the creation of meaningful goals and objectives.

Defining your organizational purpose may require some deep soul-searching. However, the time and energy invested in this foundational work for your business will pay off handsomely. Research conducted by Collins and Porras, found in their book Built to Last, proves that this is a key driver of long-term value. So neglect laying a strong foundation at your own peril.

Getting clear about your purpose may be the one thing that creates the greatest long-term value for your business. It certainly provides the foundation necessary to guide and direct all of your strategic renewal.  Plus, most if not all of your largest competitors are already benefiting from having completed this. So now its your turn. Lay a stronger foundation for your business by crafting or updating your company's vision, mission, and value statements.

 

Why Does Your Business Exist?

 

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