REDEFINE your business… put PURPOSE at the core of your Strategy Companies have long been building purpose into what they do, but usually it’s seen as an add-on. As a way to, say, give back to the community. However, it is interesting to see the results of a study focusing on High Growth Companies carried out some years ago by T. Malnight, I. Buche, and C. Dhanaraj. Actually the study looked at the three classical strategies known to drive growth: creating new markets, serving broader stakeholder needs, and rewriting the rules of the game. To their surprise, they discovered a fourth driver they hadn’t considered at all: PURPOSE A key finding is that purpose played 2 important STRATEGIC ROLES: It helped companies REDEFINE THE PLAYING FIELD, and it allowed them to RESHAPE THE VALUE PROPOSITION. And that, in turn, enabled them to overcome the challenges of slowing growth and declining profitability. A Good example is #Mars Petcare; their purpose “A Better World for Pets” guided its expansion from pet food into the larger ecosystem of pet health. Another example is #Securitas; their purpose “Contributing to a Safer Society” led the firm to redesign its offering to include not just physical guards but electronic services and predictive solutions. In our experience at BMC Strategic Innovation, purpose can be a great driver of business performance. However, companies should consider it as a core part of their strategy and not just an “add-on”. Fabián Jalife Fernando Diego Parodi Sebastián Benoit Paula Reboursin Nico Horovitz David Cortadellas Vilardosa LUCIA GOMEZ-HORTIGUELA RAMOS Helena Márquez Jean Marc Levinson Mariana Soledad Giordano #Management #Strategy
Sebastián Benoit
4mo
Great Example Guillermo Fracalossi!!
Sales Manager @Playadito @Croppers
4moI agree! A purpose is like a recalculated gps linked with strategy and objectives and so our brands implicitly should generates in the minds of our clients.