MANAGING in the

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Terms related to values and beliefs of the organization are trending in businesses these days. Business consulting giant Ernst and Young along with the Oxford University found out that public discourse on organizational purpose has increased five times since the year 1995. Thus a new research was conducted by the Great Place To Work (GPTW) Institute to measure whether purpose had a genuine tangible impact on the bottom line for organizations. Out of all surveyed, those who confessed to believing in the value system of their organization, two broad categories were found out. Then high purpose-camaraderie group shared a common purpose at work but also mutual camaraderie within the organization. The other such type was the high purpose- clarity type. Like the previous group, they too scored high on purpose but also did well on management clarity. On further analysis, it emerged that only the latter group genuinely displayed high performance in the stock market and followed better accounting practices

Source:https://hbr.org/2016/10/the-type-of-purpose-that-makes-companies-more-profitable

 

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