E-book: The Mission Purpose Report 2017
The Mission Report 2017 focuses on the role of purpose amongst top 100 Norwegian businesses and brands. It also examines how companies use core values to distinguish themselves in the marketplace. Last but not least, it searches for a connection between purpose and profit.
Discovering the potential of purpose
Purpose is the fundamental reason why you are in business, beyond making money. Often based on a positive change you wish to see in the world. It’s the source for your motivation, a statement of intent that should inspire others to follow.
Purpose is not a quantifiable volume. You will not receive purpose points you can use as a currency, although this is an appealing thought. All the existing global commotion around purpose is a result of the widespread realisation that earnings evidently are important in business, but that there is something more important than money out there. These days employers, employees, customers and investors are also engaged in why a company does what it does.
Money won’t make you special, purpose will
We discovered early in our work with Norwegian companies that many of them don’t fully realise the rewarding benefits of defining their purpose. Yet, since the early 1980s, it has been an established practice to define core values of companies. Knowing this to be true in the past, we wanted to find out if Norwegian businesses were still value driven. With that in mind, we set out to comb company websites and annual reports in the search of purpose statements and values.
If you’re not aligned with a purpose you can waste time and resources moving in the wrong direction.The search for purpose sets businesses on a more valuable course for creating a strong brand. It provides focus, unites culture, motivates, differentiates and creates an emotional connection with stakeholders.
Many companies don’t know the value of having a purpose
The best practice of defining vision, mission and value has been around for thirty years. Most companies agree it’s a helpful technique for demonstrating ambition and the behaviour required to get there. When Mission started out back in 2001, we discovered that “purpose” had more resonance. The deeper fundamental intent of purpose triggered something in our clients that took us further and created more effective outcomes. In fact, the energy around the projects lifted, the process became easier and our clients felt more connected to their brands than before.
For many international brands, purpose has replaced the mission statement. In the rapidly changing times we live in, the mission can be completed, but purpose is something more fundamental. It comes from deep within the DNA of leaders. It’s why they do what they do, a desire to see things done differently. This motivation is more human, it attracts like-minded individuals and can be a strong compass to guide the business forward.
Read on now and find out our answers to the following three questions:
- Why is purpose becoming more important for leading companies?
- Are businesses engaging in this powerful asset?
- Are purpose driven brands more successful?
In our report, we’ve examined more than 100 Norwegian brands. We studied how they communicate what they stand for, how this compares with other businesses and whether there is there any correlation between what they say and their success.
The results make for interesting reading, reinforcing our belief in the power of purpose.