Reimagining Business Purpose

A strong sense of organisational purpose will help businesses bounce back from the coronavirus crisis.

Businesses around the world are emerging from the deepest recession since the Second World War, so their leaders need to be prepared for recovery. Savvy executives will have a comprehensive understanding of their organisational purpose and its role in helping the business back to recovery. "A clear purpose helped many businesses to make it through the impact of COVID-19 last year. It gave them a North Star and a framework for making decisions; decisions they weren't expecting to face," says Dr Scarlett E. Brown, policy consultant with the UK's Chartered Institute of Personnel and Development (CIPD). In short, organisational purpose is a company's raison d'être. Tiffany Downs, partner at US Ius Laboris firm, FordHarrison explains: "When organisational purpose was initially discussed, it was more about the mission and the values of the company and an