A new stage of business processes is now underway. In this, the “how” will gain greater credence in comparison to the “what”. So instead of focussing on what to prepare, companies are seeking to understand how best to serve its audiences. Purpose now needs to be key to any company’s corporate strategy, though several are not ready with the same. Companies need also understand that purpose is both emotional as well as personal. This purpose needs to be connected to the company’s overall game- plan. Top line growth can be positively boosted due to this, as several studies have confirmed. External expectations and policy directions can also be managed smoother now. Companies need also devise a sound method to collect their business intelligence. This needs to be quantifiable and actionable. One must not any more settle on any generic purpose, but on something that delivers impact.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/purpose-shifting-from-why-to-how

Uploaded Date:20 May 2020