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In this provocative new book, a distinguished Harvard Business School professor offers a compelling reassessment and defense of purpose as a management ethos, documenting the vast performance gains and social benefits that become possible when firms manage to get purpose right.
Few business topics have aroused more skepticism in recent years than the notion of corporate purpose, and for good reason. Too many companies deploy purpose as a promotional vehicle to make themselves feel virtuous and to look good to the outside world. Some have only foggy ideas about what a purpose is and conflate it with strategy and other concepts like "mission," "vision," and "values." Even well-intentioned leaders don't understand purpose's full potential and engage half-heartedly and superficially with it. Outsiders spot this and become cynical about companies and the broader capitalist project.
Based on extensive field research, Gulati reveals the fatal mistakes leaders unwittingly make when attempting to implement purpose. Moreover, he shows how companies can embed purpose much more deeply than they currently do, delivering impressive performance benefits that reward customers, suppliers, employees, shareholders, and communities alike. To get purpose right, leaders must fundamentally change not merely how they execute on it, but how they conceive of it and relate to it. They must practice what Gulati calls deep purpose, furthering their organization's reason for being more intensely, thoughtfully, and comprehensively than ever before.
In this authoritative, accessible, and inspiring guide, Gulati takes readers inside some of the world's most purposeful companies to understand the secrets to their success. He explores how leaders can pursue purpose more deeply by:
navigating the inevitable tradeoffs more deliberately and effectively to balance between short- and long-term valuebuilding purpose more systematically into every key organizational function to mobilize stakeholders and enhance performanceupdating organizations to foster more autonomy and collaboration, which in turn allow individual employees to work more purposefullyusing powerful storytelling to communicate purpose, arousing emotions and building a community of inspired and committed stakeholdersbuilding cultures that don't merely support purpose, but allow employees to link the corporate purpose to their own, personal reasons for beingand moreAs Gulati argues, a deeper engagement with purpose holds the key not merely to the well-being of individual companies, but to humanity's future. With capitalism under siege and trust in business at an all-time low, purpose can serve as a radically new operating system for the enterprise, enhancing performance while also delivering meaningful benefits to society. It's the kind of inspired thinking that businesses--and the rest of us--urgently need.
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