Publications
Publications
- October 28, 2021
- Harvard Business Review Digital Articles
Creating a Meaningful Corporate Purpose
By: Hubert Joly
Abstract
Today, most company leaders believe that their companies’ larger purpose is to make a positive difference in the world—not just to maximize shareholder value. Defining a corporate why and making sure it guides decisions and operations has therefore become a cornerstone of doing business. According to author Hubert Joly, former chairman and CEO of Best Buy, Best Buy’s purpose has been central to the way the company has grown and evolved—and continues to. It’s what helped inspire previously discouraged and anxious employees and boosted the company’s share price about tenfold since 2012. Although the idea of a company guided by purpose is simple to understand, it is very hard to turn into reality. Joly presents five considerations that are critical for defining a powerful corporate purpose.
Keywords
Corporations; Purpose; Meaningfulness; Organizations; Mission and Purpose; Organizational Change and Adaptation
Citation
Joly, Hubert. "Creating a Meaningful Corporate Purpose." Harvard Business Review Digital Articles (October 28, 2021).