What makes a great purpose in business?

By: Kamil Toume

While most companies are busy looking for ways to discover and sustain their competitive advantages, they often forget why they are in business in the first place. Cutting prices, adding more features and tons of manipulative ads which they call marketing. Defining the final impact of the business determines the greatness of its purpose and its genuineness. Hundreds of articles, books and studies have been written, published and lectured about the determinants of a great purpose in business. Asking simple and key questions helps identifying the hallmarks of a great purpose and understanding the final impact. It is not about competing and outsmarting competitors, it is about figuring out why you exist as a leader and as a business.

  • What is the challenge that the business strives to overcome to improve people’s lives?
  • What is the value that the business creates for people as associates and customers?
  • What is the final impact on people’s lives?
  • how does the business satisfy people’s true needs not desires?
  • How does the business contribute to build meaningful and purposeful products and services?
  • How does the business contribute to build safe, empowering, joyful and growth inducing environment for your people?

Great leadership springs from the purpose of the business, its relevance, genuineness, meaning and significant impact not from the me-too competitive advantages that do not add up. If you want to truly discover the purpose of your business and measure its final impact, it is worth answering these questions.

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