Today, businesses around the world are eager to define their reasons for existence and impact on society, and many are working hard to develop a statement of corporate purpose.
Craft a Measurable Company Purpose
Step one: Make sure your purpose statement includes key stakeholders. Step two: Make sure your KPIs align.
August 23, 2022
Summary.
As companies write their purpose statements they need to make sure that all their key stakeholders get an explicit mention and promises that are measurable. Too many still focus on just one group of stakeholders, usually investors, while others that have expanded the scope of their purpose often do not explicitly acknowledge other key stakeholders let alone track key performance metrics that apply to non-financial stakeholders.
New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.
Learn More & See All Courses
New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.