To many individuals, the power of having a "purpose" is intuitive. A necessary ingredient for many personal triumphs, like marathon running, rock climbing, raising a family, and so much more. Purpose isn't just a positive force for individuals, however. Increasingly, studies are demonstrating the benefits for companies to have a purpose. It helps attract and retain the best employees, and helps those employees feel engaged and inspired.
Mounting data suggest that companies that are purpose-driven even do better in the marketplace. The majority of consumers, for example, want to purchase goods and services from companies with purpose, and they also admit to wanting to penalize companies without it!
Although the "business case" for having and implementing a purpose-driven strategy is strengthening, creating that strategy is often not straightforward. Authenticity, integrity, candor, and transparency are all important elements to include, but this is sometimes easier said than done.
In addition to being a core contributor to PepsiCo's Performance with Purpose strategy over the years, and leading the development of PepsiCo's comprehensive Water Stewardship Strategy, I have consulted with companies in diverse sectors to assist them along their journeys.
How can you develop a genuine purpose-based strategy to drive business value?