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10 myths about ‘corporate purpose’ – new research from Circle & Radley Yeldar

By Graeme Cade -

B2B is rational, right? Businesses buy from other businesses because they offer the best combination of product and price. And employees choose to work at your company because of the salary. Simple. Except it’s not.

Fit for purposeIt’s critical to remember that businesses are really just groups of people bound by shared objectives, and therefore intangibles – feelings and emotions – play a huge role in business decisions every day.

As a buyer, do I like the business I’m looking to purchase from? Do I trust them? Do I respect them? Does it feel good to be associated with them?

As an employee, am I excited by what we do? Do I want to tell my friends about it? Am I happy to arrive at work in the morning? Am I proud of my company?

These are questions that matter just as much – more in fact – than ‘what’ and ‘how much’. And it is here that a company’s purpose plays a critical role. Purpose inspires, aligns and motivates. It is the essence at the heart of business emotions.

We’ve recently partnered with our friends at Radley Yeldar to produce the Fit for Purpose report.  In it we debunk 10 myths about corporate purpose, challenging the belief that:

  1. Purpose is a short-term marketing fad
  2. Purpose is something you’re born with, you cannot become purposeful
  3. Purpose is not a CEO’s job
  4. Purpose is just for millennials
  5. Purpose is a one-off internal campaign
  6. Purpose can’t be measured
  7. Purpose is only for worthy businesses
  8. Purpose trumps profit
  9. Purpose is the new greenwash
  10. Purpose is just another word for CSR

Take a look at the report here.

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