Purpose-washing

We hear a lot about ‘purpose’ nowadays. It’s not surprising. Our world has been turned upside down. We’ve achieved things that just a few months ago we would have considered impossible. Old orthodoxies have been shredded. Now is the time to rebuild and refocus on our values. The world, while still dark, seems ripe with possibilities.

Many companies are reckoning with business models have been broken. Retail, hospitality, events, entertainment, property. The list goes on and on. Some hope for a return to pre-pandemic activity, while others are settling in for the long haul. In the short term something like the old normal might assert itself, but that could well be an illusion.

In this febrile environment, companies are turning to the idea of ‘purpose’ as a life-raft. The rationale is, if we can come up with a purpose, we can weather the storm. It justifies our continued existence.  

However, purpose cannot be skin deep. You cannot simply invent a purpose and use it as a cover for business as usual. The purpose must inform and guide all aspects of the organisation. The key question is, which is more important, living by your purpose, or the bottom line?

Let’s reject ‘purpose-wash’, the cynical, short term adoption of purpose as a means to a selfish end. â€˜Purpose-washing’ is like ‘greenwashing’ - without a lasting, long-term commitment to purpose, it is only superficial and it’s not going to fool anyone.

Can redefining purpose help a troubled business survive? 

What companies do you know with a purpose that you admire?

#purposefulbusiness