Innovation on Purpose
How might a well-defined sense of purpose guide your innovation activity? How is it already doing so today, in some organizations?
We wanted to explore those two questions as part of this collaboration between InnoLead and BCG Brighthouse.
But what is purpose?
Purpose is the “why” behind an organization — beyond simply selling a product or service. Purpose can manifest itself in a number of different ways, depending on the company’s specific goals. Some purpose statements relate to making the world a better place through ESG reform; others focus on prioritizing equity and access for a more holistic and inclusive industry landscape.
And purpose differs a bit from mission, values, and vision. Mission is the “what” you do; vision is the “where” your organization is headed; and values are the “how” it gets there. But adding the “why” has proven useful for a number of companies that have integrated purpose.
As part of this collaboration, we interviewed 12 senior leaders at large companies and organizations. We discussed issues around defining, communicating, and operationalizing the notion of purpose, and gathered examples and advice.
