WACL Exercise-1

Why Are We Here? (Summary)

Purpose has become a management keyword
over the past decade as it has allowed many
people work with the organizations whose
missions as well as business philosophies resonate
with them both intellectually and emotionally.
Even after all these aspects, many enterprises are
failing to define their purpose. The main reason
for this is that many of the enterprises are
focusing on “being the company of choice’’ or
‘’maximising shareholder value’’ instead of
focusing on questions such as ‘’Why is our
company existing?’’ or ‘’What value our company
is giving to the customers?’’
The perfect purpose statement is the one that
achieves both: strategic goals and motivating
company’s workforce. When our employees will
understand our organization’s purpose, they will
get inspired and will deliver great results for sure.
In a recent survey of more than 540 employees
worldwide that was conducted, only 28% of
respondents felt connected fully to their
company’s purpose and only 34% thought that
they strongly contribute to their company’s
success. More than 50% were not even motivated
or passionate towards their jobs.
This is the main reason why employees feel lost.
This leads in backing away from the challenges
that are required for achieving company’s goals.
This is the reason why purpose holds massive
potential to inspire the employees. According to a
survey, employees consider it to be more than
twice as important than the traditional motivators
like compensation and career advancement.
To assure that our firm’s purpose can create
strategic clarity and motivate employees, we must
have answer for this fundamental question: ‘’Does
the purpose speak to our unique value’’? And
after that, we will need to ensure that our
structure, systems and resourcing equip our
employees to works towards the purpose.
Ajinkya N. Babar E-06