How do you begin to define your company’s core purpose? Start with a statement which describes what your company does, for example, ‘we deliver X and Y services’. Then ask ‘why is this important?’ and after each answer keep asking the question ‘Why?’ over and over again. You’ll soon get down to some interesting and challenging statements based on the fundamental reason for your company’s existence and to where your strategy should commence its journey. A purpose-driven strategy has at its centre a core purpose which drives a vision (a compelling view of where you want to be), a mission (the what and who for) and values and behaviours (how you will get there).
At Collingwood, we help our clients define these key strategic elements using our Strategy Wheel tool. The Strategy Wheel process facilitates the creation of a core purpose and the supporting vision, measurements, strategic foundations and values forcing leadership teams to make hard decisions about what their organisation stands for, by articulating the difference a business makes to its people, its customers and to its world. By creating a strategic route map companies demonstrate a vision and a way forward which can quickly increase commitment levels amongst both its employees and customers and further build brand power drive growth and take advantage of new markets and opportunities.