Companies solely focused on profits are paradoxically less likely to make more money. Organisations which have a clear and distinct purpose – a ‘why’ – to drive their decision-making have been proven to outperform.
Purpose is defined by the Harvard Business Review as an aspirational reason for being that inspires, provides a call to action to an organisation’s partners and stakeholders, and provides benefit to local and global society.
It can span from a company having a clear, positive rationale for its actions, through to a defined charitable goal for positive social impact. Purpose can also help bind all stakeholders of an organisation together by ensuring every individual – not only staff, but also investors, suppliers and even customers – knows how their work contributes to achieving that purpose. When everyone in an organisation knows what they are working towards and why, it is easier to innovate and drive transformational change effectively.
As part of our ongoing Zebra Project, we hosted an event to discuss the importance of purpose and how to make it the foundation of organisational success. Attendees shared their experiences of purpose, how to find and articulate your ‘why’, and how to balance the risks and opportunities of becoming truly purpose-driven.
Read the full article now on The Zebra Project website.