Organizations in all sectors are increasingly required by their investors, customers, employees, and wider stakeholders to articulate a clear statement of corporate purpose. Purpose isn’t about profit maximization; it’s the reason the organization exists.
What Makes a Great Corporate Purpose Statement
A five-part framework for leaders.
September 11, 2023
Summary.
Having a well-crafted purpose statement really matters. Not only does it represent the organization’s aspirations, it also sends signals to employees about what the company stands for. It is the vital first step on the road to actually embedding and activating an authentic purpose. Yet leaders often struggle to articulate an appropriate and inspiring purpose statement due to a lack of guidance concerning the focus, scope, and form of expression they should aim for. The authors conducted a detailed analysis of purpose statements from leading organizations around the world and developed a diagnostic framework leaders can use to help craft the best purpose statement for their specific situation.
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.