Purpose: The Starting Point of Great Companies
By Nikos Mourkogiannis
In Purpose, Mourkogiannis, a former Monitor Group consultant, argues that the companies powered by moral ideas ultimately win. An excerpt:
The point was made by Goran Lindahl, former chief executive of ABB, the Swiss-Swedish industrial giant: "In the end, managers are not loyal to a particular boss or even to a company, but to a set of values they believe in and find satisfying." In an era of change, the hope is that shared purpose will provide an anchor, something to hold on to, which will make insecurity more tolerable…. And in an era of innovation, purpose will justify the risks associated with innovation, which would not normally be acceptable to executives focused on profits.
A version of this article appeared in the October 2006 issue of Fast Company magazine.