How to Harness the
Power of Purpose
A strong sense of purpose can unleash superior performance, but only if it is authentic, inspiring, and embedded throughout the organization.
#HowtobyBCG
Purpose is a company’s reason for being, beyond what it does, makes, or sells.
“
When you go to bed at night and you are worried about something, that is generally your mission. But, when you wake up in the morning and
you are excited about something, that’s your purpose.
ASHLEY GRICE
CEO, BrightHouse
BrightHouse, a BCG company, leverages the power of purpose to help organizations grow people, profits, and social impacts.
Purpose Drives Performance
Purpose creates a sense of meaning, inspiring employees and unlocking discretionary efforts to transform and grow. It promotes strategic focus, alignment, and guardrails for decision-making. Productivity and performance skyrocket as a result.
For more on unleashing the power of purpose, follow our #HowtobyBCG conversation on Twitter and LinkedIn
GET INSPIRED
Learn more about avoiding the risk of trivializing purpose
Explore “the smartest way to why”
Organizations with a Strong Sense of Purpose Are More Than Twice as Likely to Have Above-Average Shareholder Returns.
Organizations with
low purpose
Organizations with
high purpose
+2x
Top two quartiles
of TSR performance
Bottom two quartiles
of TSR performance
Investors are noticing the strong link between purpose and performance.
A Plan to Unleash Your Purpose
Purpose has the power to transform your organization, but it must be articulated, activated, and embedded to have impact.
“
Without a sense of purpose, no company, either public or private, can achieve its full potential.
Larry Fink, CEO, BlackRock
GET THE INVESTOR'S POV ON PURPOSE
Bringing purpose to life requires the discipline to
roll it out across the company and a relentless focus on achieving tangible results.
LEARN MORE ABOUT HOW BRIGHTHOUSE HELPS ORGANIZATIONS DISCOVER THEIR TIMELESS PURPOSE
READ WHY TECH FIRMS NEED TO TAKE PURPOSE TO THE NEXT LEVEL
ARTICULATE
ACTIVATE
EMBED
1
2
Look inside--and outside.
Identify your company’s distinctive strengths, culture, and ethos. Unearth fresh insights that challenge established thinking.
Get uncomfortable.
Uncover gaps between aspiration and reality. A purpose should make you feel that what you are doing now is not enough.
LEARN HOW TO GET UNCOMFORTABLE ON PURPOSE
3
ARTICULATE
A strong purpose clearly communicates your story and drives a company to become the best version of itself.
Embrace self-discovery.
Ask “What do we aspire to be? What would the world lose if we were gone tomorrow?”
1
2
Communicate, connect, inspire.
Speak to both the head and the heart. Combine facts and feeling to strike an emotional chord so people buy in and believe.
Don’t trap purpose at the top.
All leaders must demonstrate that they embrace the purpose and ensure that employees see and feel its impact on a daily basis.
READ MORE ON PURPOSE’S POWER TO TRANSFORM YOUR ORGANIZATION
3
ACTIVATE
Purpose without activation is just a slogan in a PowerPoint deck.
Make bold commitments.
Make your purpose real through commitments that are tangible, trackable, and public.
1
2
Be honest about delivering.
Don't just focus on the upside. Where there are gaps between the ideal and reality, tackle them head-on.
Avoid purpose dilution.
Purpose should prompt action in new directions. Make sure it doesn't become an excuse for preserving the status quo.
FIND OUT HOW TO MEASURE AND TRACK THE IMPACT OF PURPOSE
3
EMBED
Purpose must be integrated into every part of the organization—
and that work is never done.
Rethink strategy, culture, brand.
Integrate purpose into existing business processes, including recruiting, product development, and performance management.
GET THE INVESTOR'S POV ON PURPOSE
FIND OUT HOW TO MEASURE AND TRACK THE IMPACT OF PURPOSE
READ MORE ON PURPOSE’S POWER TO TRANSFORM YOUR ORGANIZATION
LEARN HOW TO GET UNCOMFORTABLE ON PURPOSE
A BCG survey of 50 companies in three sectors— technology, media, and telecommunications; consumer products; and financial services—found that purpose correlates strongly with ten-year total shareholder return.
LEARN MORE ABOUT THE PURPOSE-PERFORMANCE PAYOFF
LEARN MORE ABOUT HOW BRIGHTHOUSE HELPS ORGANIZATIONS DISCOVER THEIR TIMELESS PURPOSE
READ WHY TECH FIRMS NEED TO TAKE PURPOSE TO THE NEXT LEVEL
LEARN MORE ABOUT THE PURPOSE-PERFORMANCE PAYOFF
MISSION
What do
we do?
VISION
Where are we going?
PURPOSE
Why do we exist?
ASHLEY GRICE
#HowtobyBCG
For more on unleashing the power of purpose, follow our #HowtobyBCG conversation on Twitter and LinkedIn
