Purpose Is a Verb, Not a Noun
Purpose is an ongoing cycle of activities, not a slogan on a poster
Boston Consulting Group surveyed 50 companies in three sectors — technology, media, and telecommunications; consumer products; and financial services — and found a surprisingly direct connection between a company’s sense of purpose and financial results. Organizations with a strong sense of purpose had more than twice the total shareholder return compared with those with low purpose.
First of all what is purpose? In terms of an organization, it is the raison d’etre, the reason for being.
In a rapidly changing world, purpose cannot be a one-time exercise, accomplished when an organization is formed, and then put on a poster in the lunchroom or in the footer of powerpoints. Purpose is a verb, not a noun: a process of self-reflection and learning, and one that must involve the participation of as many people in the organization as possible.
