Why we need Common Purpose.

Having a common purpose within a business is akin to having a North Star guiding every decision and action taken by the organisation. It serves as the foundation upon which everything else is built. Without a clear sense of purpose, a business can easily lose its direction and struggle to achieve sustainable success. Let's think about why having a common purpose is essential and explore some great purpose statements from well-known companies.

Unifying the Team

A common purpose unites employees, aligning their efforts towards a shared goal. When everyone understands and believes in the purpose, it fosters a sense of belonging and camaraderie within the team. For instance, Google's purpose statement, "To organise the world's information and make it universally accessible and useful," has been instrumental in rallying its employees worldwide around the mission of facilitating access to knowledge.

Moreover, a well-defined purpose enables businesses to adapt to changing market dynamics and challenges. Tesco's purpose, "To serve shoppers a little better every day," has guided its evolution from a small grocery retailer to a multinational corporation offering diverse products and services tailored to meet the evolving needs of its customers.

Similarly, British Airways' purpose, "To connect Britain with the world and the world to Britain," resonates deeply with its employees, inspiring them to deliver exceptional service and facilitate global connections through air travel.

Driving Innovation and Adaptability

A clear purpose inspires creativity and innovation by challenging employees to find new ways to fulfil the organisation's mission. Apple's purpose, "To bring the best user experience to its customers through its innovative hardware, software, and services," has driven the company to continuously push the boundaries of technology and design, resulting in ground breaking products that redefine industries.

Moreover, a well-defined purpose enables businesses to adapt to changing market dynamics and challenges. Amazon's purpose, "To be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online," has guided its evolution from an online bookstore to a global e-commerce giant offering a wide range of products and services, all centred around customer satisfaction.

Building Trust and Loyalty

A strong purpose builds trust with customers and stakeholders by demonstrating a commitment to values beyond profit. Patagonia's purpose, "To build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis," has garnered immense loyalty from environmentally conscious consumers who align with the company's sustainability initiatives.

Similarly, Coca-Cola's purpose, "To refresh the world in mind, body, and spirit, to inspire moments of optimism and happiness through our brands and actions," goes beyond selling beverages to fostering positive experiences and connections, earning the trust and loyalty of consumers worldwide.

Driving Long-Term Success

Ultimately, having a common purpose is essential for ensuring the long-term success and sustainability of a business. Companies that prioritise purpose alongside profit are better equipped to weather challenges, attract top talent, and adapt to changing market dynamics.

As exemplified by companies like Microsoft, whose purpose is "To empower every person and every organisation on the planet to achieve more," a clear sense of purpose serves as a guiding force for driving innovation, fostering collaboration, and creating positive societal impact.

Communicating the Purpose

To often companies fall down on the communication of the purpose statement as effectively communicating the purpose through the organisation is as crucial as defining it.

Internally, clear and consistent communication ensures that every employee understands the organisation's mission, values, and goals. This alignment fosters a sense of belonging and empowers employees to make decisions that are in line with the company's purpose. Regular communication channels such as company-wide town hall meetings, and workshop sessions reinforce the purpose and keep it at the forefront of employees' minds. As with all communication you are striving to cascade the same messages as far down an organisation as possible.

Externally, communicating the purpose builds trust and credibility with customers, investors, and other stakeholders. It demonstrates authenticity and transparency, showing that the organisation is committed to more than just profit. Through marketing campaigns, social media presence, and corporate social responsibility initiatives, companies can share their purpose with the world, attracting like-minded customers and partners who support their mission.

Summary

A common purpose is not just a lofty ideal but a strategic imperative for any successful business. By unifying teams, driving innovation, building trust, and driving long-term success, a clear purpose serves as the cornerstone of organisational excellence. As evidenced by the purpose statements of renowned companies like British Airways and Tesco, it's clear that a compelling purpose can propel businesses to achieve remarkable feats and leave a lasting legacy in the hearts and minds of stakeholders.

When was the last time you thought about your companies purpose statement - if its been a while now might be the time to act!