While most organizations have a set of values, and a mission and vision that define its business aspirations and philosophy \u2014 and these often overlap with the key objective that purpose fulfills \u2014 there is still a need to invest energy to get to the core of the company\u2019s existence and articulate its purpose.<\/p>\n
Turning the Spotlight on Corporate Purpose & Purposeful Leadership<\/h2>\n
The recent pandemic that has plunged the world into social, environmental, and economic challenges has played a key role in turning the spotlight on corporate purpose and purposeful leadership. The scale of the pandemic has shaken up a lot of organizations that did not think they were vulnerable to socioeconomic challenges. The last 2 years have also helped people pause and reflect on their personal and professional priorities.<\/p>\n
The recent disruption has awoken boards and leadership teams to the reality of the need to lean toward stakeholder capitalism<\/em> rather than shareholder capitalism<\/em> for long-term financial, social, and talent sustainability.<\/p>\n Societies are more aware and more demanding of businesses to balance commercial and social sustainability. Communities are holding organizations more accountable for their actions. People do not want a transactional relationship with organizations that are only in the business of making money; they are looking for more meaning in their work.<\/p>\n Investors are more supportive of organizations that play a more balanced role in the social, economic, and environmental space. Even leaders are more reflective of the alignment between their personal values and the organization\u2019s purpose.<\/p>\n Organizations therefore must look deep within and identify, communicate, and live their purpose authentically. Purposeful leadership is needed now, more than ever before.<\/p>\n
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