If we think of values as guardrails for how we make decisions, act, and react, then purpose functions more as a north star, as one overarching, ultimate goal that guides the company.
Purpose answers the ageless question why? Why does what we do matter, what difference are we making in the world? Why would our customers miss us if we weren’t around?
Today, purpose is probably the most important element that goes into setting the direction of fast-growth companies.
All the fastest growth organisations have this tag line with a social purpose built in that acts as a north star of the organisation.
Think Google – organize the world’s information, Uber – everyone’s private driver
A company’s purpose is a response to a future need already out there in the world waiting for an organisation to respond.