For businesses to stand out and thrive in today’s market, they need to have—and communicate—a discernable purpose. Many studies suggest that an altruistic purpose not only mobilizes employees, it also contributes to a company’s bottom line. The pursuit of purpose rivals the pursuit of profit in terms of importance, and both have become an essential aspect of businesses that purport to operate with conscience.
When a company organizes its mission around its purpose, it makes for a more authentic brand experience. It shifts the conversation from financial gain to “shared value,” meaning an approach that focuses on generating economic value in a way that creates value for society as well. To communicate this shared value, a company’s purpose has to be visible in every aspect of the work they do. It needs to be integrated in its products, services and organization. For example, our stated purpose is: To help all people use our world’s precious resources more efficiently. This statement is not just lip service. It has been woven through the fabric of our organization and reinforced from all possible angles, from marketing collateral to meetings.
Here are some tips for integrating your company’s purpose into the core of its strategy: