Creating a Meaningful Purpose is a targeted consulting intervention that builds on the Work Focus segment of the InterActive Thought-Action-Outcome Sequence.
About Purpose
Purpose builds on mission ("Why do we exist") and vision ("What is our future" – "Where are we going") by also answering the question, "What will make us proud?" As such, a well-crafted pupose statement represents our best values. A purpose serves to imbue our work with meaning as well as create a template for the development of strategic direction. It can be used to:
A Case Study
A Biotech company’s mission statement was: "To create innovative products that will save human lives," This sounded like an inspiring, even great mission. However when push came to shove, this company found it could not really use this mission statement to make strategic or, indeed, even tactical decisions.
In one situation, they had to decide whether to invest an additional 200 million across 3 different products. Product A was well down the track of FDA approval and would clearly be an innovation that would save human lives; however, at best this product would only create a break-even return for the company. On the other hand products B and C (each only at the beginning of the FDA approval process) both had the potential to save lives and, if approved by the FDA, would return a substantial multiple to the company.
On the surface, this seemed like an easy decision. But the mission statement confused decision-making, and the company was caught in conflict as key product managers working on product A pointed out that to abandon their product would fly in the face of the much-touted organizational mission statement. The conflict was ultimately resolved when the company (including product A’s management team) asked the vital question, "What would make us proud?" As a result of the ensuing discussion and decision, they changed their mission statement into a Purpose Statement by adding the words: "and enable our company to generate returns that will allow us to significantly invest in research and innovative product development."