Most business leaders agree that a company’s purpose should be about more than just making money. While plenty of time and energy is spent defining and communicating company purposes, only 42% of respondents in a recent McKinsey survey reported that their company’s stated purpose translated into impact — that’s excluding the 38% whose organizations had no stated purpose at all.
Putting Your Corporate Purpose to Work
Five strategies from the former CEO of Best Buy.
November 15, 2021
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Summary.
Making a company purpose come to life is an arduous journey that requires a multi-pronged and sustained approach. Yet as hard as it is, the journey is well worth it and will yield positive transformation not only for the company, but also for the people who work there. And by changing how the company and its people relate to customers, suppliers, shareholders, and communities, that transformation radiates well beyond the organization itself. The author presents five steps for turning a company purpose into reality, using both the head and the heart.
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Sharpening Your Business Acumen Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Sharpening Your Business Acumen. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Take your career to the next level by learning business and finance basics, and developing an enterprise mindset.