What is the company´s or business purpose?
It is the reason why the organization exists. It gives people a sense of meaning, unites efforts and inspires action. Of course, it requires that the strategy, objectives, processes, practices and the entire organization are committed and live with the purpose on a daily basis and that it does not just remain in a public statement.
It is fundamental to think about the benefit/well-being not only of the shareholders but of all the stakeholders of the company.
As stated in the Gallup article: “a company’s purpose is a bold affirmation of its reason for being in business. It conveys what the organization stands for in historical, ethical, emotional and practical terms. No matter how it’s communicated to employees and customers, a company’s purpose is the driving force that enables a company to define its true brand and create its desired culture.”
The following are 7 benefits of having a business purpose or Company´s Purpose:
