For purpose to successfully deliver positive business effects, commitment on all levels of the organization is essential. Only the companies that can walk the talk and are transparent about how they do it, will benefit from the rewards. No easy feat.
Purpose is not for everyone
To achieve the desired positive effects of purpose, the purpose has to be defined and approached as a north star for the business: a fundamental idea that, when fully implemented, sets the company apart in a relevant way in its future market. This is something only achieved by business leaders with true conviction who can rally an entire organization.
This is not the time for purpose-washing. The most purposeful companies in the study clearly stand out on associations related to trust, reliability and creating real change. If the will or capacity to turn claimed ambition into action is lacking, it’s better to stay silent. Purpose is not necessarily for everyone.