An interesting interview at Management Consulting News, some excerpts:
Roy Spence and Haley Rushing are coauthors of the bestseller,It's Not What You Sell, It's What You Stand For.
Spence: I believed that so many companies and products were going to become commodities that, at some point, the values and the purpose of the organization would become a critical decision factor for consumers.
I think that many of the companies in the news, including major banks, insurance companies, and car manufacturers, have lost or forgotten their purpose. Some of the big players lost their way and it’s costing this country dearly.
Rushing: A company needs profits to stay alive and fuel its activities, of course, but that’s not why it exists. And purpose is inherently more inspiring to people than money.
when people get up and go to work, they want to put their time and talent into something they can believe in.
If you give people something they can believe in, that will keep them engaged and committed. And they will go the extra mile, even if you don’t have the resources to reward them.
So in your organization - what is your purpose? How do you understand that different from your vision and mission?