Purpose: - The reason something exists. For companies, it is the foundation of every experience. It is the underlying essence that makes a brand relevant and necessary. A purpose is not a goal that has to be achieved, it's a guiding light by which all your actions get direction.
Business: - means ordered and systemized action that stem from a right process of thought and produce systematic results.
The Purpose of business: - Is Greatest good of the greatest number. To make money in a spiritual way and help yourself while helping others is the right way.
A well-defined purpose helps arrive at a decision quickly and saves multiple rounds of meeting time. Also, reduces the conflict of opinion between office colleagues, peers, investors, and management.
Planning your corporate & brand purpose
The 5 ‘I’ framework for defining corporate and brand purpose
Integrity - How true is your purpose to what you stand for?
Interest - Is your purpose something that others care about?
Intrigue - how provocative and intriguing is your purpose?
Inspiration - Does your purpose inspire action?
Inclusion - Does your purpose make marginalized people feel like they belong?
A good corporate PURPOSE will resolve the following: -
Essential Enemy - A clear and meaningful cause or situation the brand / you will stand against
Fundamental Belief - A timeless conviction - a statement that would still be true even without the brand
Behavioral Mission - A change in human behavior
All successful companies have a well-defined Corporate Purpose. Here are a few of them: -
Apple - To
empower creative exploration and self-expression.
Amazon - To be Earth's most customer-centric company, to build a place where people can come to find and discover anything they might want to buy online.
Google - To organize the world's information and make it universally accessible and useful.
Zoho Corporation - To create opportunities for people who do not have an opportunity.
Creating really compelling technology for customers who could not afford that before. And create this in locations that have not taken part in the technology revolution before.
And some purpose statements need improvement as they are not very well defined like below: -
- To create extraordinary. We exist for the extraordinary. Ideas. Stories. Journeys. Experience. Partnerships. Possibilities. Performance. And so much more. Not as a goal, but as the standard. Because the extra mile is where the magic happens.
Uber Mission Statement - Transportation as reliable as running water, everywhere for everyone
Also, the progressive companies should strive to align the corporate purpose with the respective employee's personal purpose to reduce attrition and boost employee morale and loyalty. Your team should be doing what they love to do, so if that means you need to shift departments to modify job roles then the HR management should actively do it.
Team Ideazfirst first identified internal corporate and brand purpose, and here is what we have come up with after careful analysis of our strengths and weaknesses.
Group - To offer innovative and intuitive business solutions that are relevant, affordable, delightful and easy to implement.
Bharatflorist.com by Ideazfirst
- Helping HR Teams in reducing employee stress due to remote & work from home (WFH) working culture
leading to non-empathy and poor emotional connect.
Helping in increasing caring & affection thereby, increasing loyalty, motivation and productivity among WFH teams.
- To consult and promote the best entertainment talents and connect the best projects
- To offer innovative advertising for brands and additional income for cab owners.
Team Ideazfirst can help identify the purpose of the company based on past success and failures and overall resources and expertise among the founders and top management team members.
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Reference / Excerpts from - a talk delivered by Mr. Rohit Ohri,
Group Chairman & CEO of