Purpose and Its Advantages

During this time of economic instability, companies want their people not to drag their feet but to walk with a stride that indicates that they know their company’s reason for being. So Doug Conant, President and Chief Executive Officer of Campbell Corporation, remarked to the editors of MWorld on the impact of his bringing purpose to the company. There is much talk today about purpose, and it seems to stem from a book by Nikos Mourkogiannis entitled Purpose: The Starting Point of Great Companies and with cause. Purpose encompasses a set of values that defines it and inspires and motivates a company’s employees. Purpose is based on ideas and it is the right ideas, the creative ideas that make a company a success.

Mourkogiannis, whose book has been released in paperback and in several foreign countries, described how purpose is a competitive advantage when strategically leading an organization. As he explained, purpose stimulates two key forms of action that contribute to a firms strength innovation and relationships. They create an enduring advantage that is not dependent on the fate of a single strategic position.

We recently interviewed Mourkogiannis on how businesses can apply purpose to better position themselves in the marketplace.

To continue reading, please download the PDF article.