Find a Sense of Purpose or Fail

Making Profit Should be a by-product of Purpose Eight years ago, a global study of high growth in companies was launched by the Harvard Business Review (HBR) to investigate the importance of three strategies known to drive it: creating new markets, serving broader stakeholder needs, and changing the rules of the game. However, the finding of the study was a major surprise, going by the admission of the brains behind the study. Although each of the three strategies did boost growth at the organizations studied, there was a fourth driver that the team had not even considered at all: PURPOSE. For many years, companies have been urged to make purpose form the core of what drives them. Unfortunately, the conversation has often been around having a purpose as an add-on—a way to create shared value, improve employee morale and commitment, give back to the community, and help the environment. However, as the study by HBR revealed, companies have moved purpose from the periphery of ...