Steve Fuller’s latest article for Management Today makes the case for corporate purpose and links up nicely with our latest Round Table debate – Purpose: Revolution or bandwagon
[pullquote]Ignore these three truths and yes, your ‘purpose’ will just be corporate jargon.[/pullquote]
Click here to read the full article or there is a summary below.
PURPOSE SHOULD BE TRANSFORMATIONAL
Senior managers must recognise that purpose is supposed to transform your business from top to bottom. Think of it as something akin to a capital investment. It should be scary and create ‘perpetual stretch through constant innovation and business transformation.
PURPOSE HAS TO BE GROUNDED IN REALITY
To be credible, your purpose must be mapped against clear and measurable goals. If your purpose to promote healthy eating, how much sugar will you cut from your products and by when?
PURPOSE NEEDS THE WHOLE SENIOR LEADERSHIP TEAM BEHIND IT
Without the full backing of the entire leadership team, it is very difficult for purpose to take root. This is why purpose can’t ‘belong’ to just the PR or sustainability team.
But if your purpose is audacious and transformational, securely tethered to the realities of your business and backed by an ‘all-in’ commitment from your senior management team, then you will be able to reap the commercial benefits.