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This week, we will explore the strategic value of purpose.
Organisation purpose is an aspirational reason for being which inspires and provides a call to action for an organisation and its partners and stakeholders and provides benefit to local and global society.

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Strategy is a pattern of decisions or actions…

a… about the allocation of resources and capabilities …[Internal]

b… in a given competitive environment …[External]

c… to achieve some long-term goals.

We will explore how purpose contributes to a firm's performance from a strategic point of view.

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“To change the way the world works”

“Meeting the world’s need for safe, clean, reliable, and economically priced electricity”

Richard Branson, CEO of Virgin Group – “It’s always my objective to create businesses with a defined purpose beyond just making money…our newest investment in OneWeb is also very much a Purpose-driven business, looking to create the world’s largest constellation of satellites to bring connectivity and communications to billions”

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In this exercise, share important elements of your organisation’s purpose (or of an organisation you would like to work for).

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How it feels like if you work in a purpose driven workplace....

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How it feels like if you work in a purpose driven workplace....

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What is a purpose driven workplace? by Linda Rottenberg, Co-Founder and CEO of Endeavor

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What is a purpose driven workplace? by Linda Rottenberg, Co-Founder and CEO of Endeavor

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How would you describe the relationship between profit and purpose?

Share your ideas with you classmates. After you have submitted, read through your classmates' submissions and vote on the one you would consider implementing (apart from your own!).

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Organisation purpose could be:

•Inspiring innovation and positive change

•Providing employees with a sense of meaning and fulfillment

•Creating value for the customer

•Make a positive impact on their community

Importantly, these do not mean an abandonment of commitments to creating shareholder value. Generating financial returns for shareholders remains an important element of organization purpose.

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Purpose is:

• “why” a person/firm does what it does.

•The ultimate goal/aspiration to realise

•What gives meaning to work in a company

•What motivates/energises us to give our best

Profit is a mean to the end.

•One of the key conditions for purpose to be achieved

•In turn, clarity of purpose and commitment enhances profitability