Start With Why. Then What?
Having a meaningful purpose or being a “purpose-driven” company has become a popular notion in business today. Most leaders know they need to “start with why.” And now, nearly 200 CEOs of leading American firms have signed the “Statement on the Purpose of a Corporation” with the Business Roundtable, stating that the purpose of a corporation goes beyond profits.
Their commitment — to create value for all their companies’ stakeholders including customers, employees, suppliers, and communities along with shareholders — was a good first step. But it’s only the start. In this new Forbes article, I explain what they need to do next — forego a fixation on the financial bottom line, go all in and fully commit to purpose, and engage middle managers — and I provide examples from Patagonia, Unilever, and Starbucks.
Please check it out and let me know what you think.