The book is a clear reminder of the business trend not to consider shareholder value the only reasonable objective for the company… but find a higher purpose. The business community is coming to the conclusion that companies have only one client – society. Defining the company’s purpose in the larger context of helping human society thrive… helps with shareholder value too 😉
Interesting concept of what is actually important: not what keeps the person up at night, but what helps the person to get up in the morning. Company’s purpose turns employees into enthusiastic volunteers…
New definition on ROI (return on inspiration) – more inspiring companies are also more valuable.
Modern business should target society as a customer and should have a “master idea” that guides the organization.
Master idea should be:
- Timeless “Don’t be evil”
- it Teaches, for example new language of coffee and a new name of the server “barrister”
- it Fulfills “Shoes for better tomorrow“
- it is a Battle cry ( IBM – “Think!” Apple – “Think Different!” )
- it is Based on Ethos (Virgin – “brand new”)
- it is Transformative (rational to emotional) From “best company on Earth” to “Best company for Earth”
- it Inspires (Whole Food)
- born not from data, but from Conviction (more magic, less logic)
- tells a story
Purpose gives you direction – Strategy gives you directions.
Best values are industry specific, memorable, directive.
- “Deliver Wow! through service” – good
- “Bringing joy to families” (McDonald’s) – good
- BP “Beyond Petroleum” (not sufficiently authentic)