Het formuleren van een bedrijfsdoel is één ding. Het overbrengen en tot leven brengen is een tweede. Alleen maar lovende woorden op de ‘over ons-Formulating a business purpose is one thing. Communicating it and bringing it to life is another. Simply adding words of praise to your “about us” page or a framed statement in the office is not enough. The purpose has to fit your company and your employees. And it keeps the entire organization going. The gap between saying something and doing something is hard to bridge when it comes to business purpose. Yet it is crucial for any company looking to succeed.
The core of the organization
The power of purpose is about more than just attracting and retaining top talent. Or encouraging them to give their best. It is about the core of the organization.
Brand purpose
Brand purpose answers the question why does your company exist? The brand purpose should be focused on delivering value to customers. Where profit is a byproduct. In previous blogs we have gone deeper into the brand purpose.
Insights from ‘Grow’
In Grow, Jim Stengells illuminates purpose in action, using data from a 10-year study of more than 50,000 brands. The 50 best-performing brands integrated their “brand ideals” into their operations, achieved growth rates three times faster than their competitors, and delivered shareholder returns 400% higher than the S&P 500.
Conclusion: A well-implemented goal provides a significant competitive advantage.
Employees Today
Today’s workforce is primarily made up of millennials and Gen-Z. They are driven by more than just profit. They are looking for a commitment to social responsibility and to make a positive impact through their work. A company’s strong and vibrant purpose is now more important than ever to attract and retain this talent.
The purpose gap: a PwC study
A PwC study found that 54% of organizations have a clearly defined purpose. But only 13% can articulate how it’s implemented in their culture and operations. This purpose gap points to a common misstep: treating purpose as a marketing tool rather than a fixed component of business strategy.
The Journey to Authentic Success
Developing a goal is just the beginning. Effective implementation is crucial for a positive outcome. At YellowSteps, we have the knowledge and experience to help you formulate your business goals and integrate them into your organization.
