Skip to content
Nicolesmagicspatula

Nicolesmagicspatula

We know finance

Primary Menu
  • Business News
  • Business Development
  • Business Networking
  • Business Knowledge
  • Finance Companies
  • Finance Analyst
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • The Key to Unlocking Your Company’s Growth Potential
  • Business Development

The Key to Unlocking Your Company’s Growth Potential

By Bernadette 3 years ago

Table of Contents

Toggle
  • 1. Your people are more motivated.
  • 2. Your customers feel a greater connection to your brand.
  • 3. Your business transitions from transactional to relational. 
  • 4. You’ll always have a true north to guide your next moves.

[ad_1]

When Ranjay Gulati, professor of business administration at Harvard Business School, began working on his latest book, he initially planned to call it Purpose. But he quickly realized he needed a new working title: During his research and writing process, he found that many companies like to talk about purpose but few back it up with their actions. For those few successful companies that did walk the walk, “it wasn’t just a purpose statement. It was a way of being. It was something that informed everything they did,” says Gulati.

That’s an important distinction, and it explains why Gulati ultimately titled the book, Deep Purpose. At Inc.’s virtual Purpose Power Summit Tuesday, Scott Goodson, founder and CEO of StrawberryFrog, spoke with Gulati about the idea behind his new book. 

In its most basic form, Gulati says, a company’s purpose is a generalized intention about how you want to be in the world. A deeper, thoughtful purpose helps leaders set and achieve goals, not to mention go after a long-term vision. In other words, purpose is a key part of unlocking your company’s growth.

But how? For Gulati, the answer is multifaceted. 

1. Your people are more motivated.

A deep purpose will help you attract and keep employees who are aligned with your company’s mission, and it will make them more productive. According to a 2015 Harvard Business Review study, inspired workers are twice as productive as satisfied workers. “When they [employees] connect their purpose with the company purpose, you get a different kind of person showing up,” Gulati says.

2. Your customers feel a greater connection to your brand.

More than ever, customers care about companies with purpose. They want their purchases to back brands that play a positive role in the communities in which they operate. The more you can connect with customers on the level of purpose, the more trust and loyalty you build.

3. Your business transitions from transactional to relational. 

Partnerships, suppliers, customers, employees: Running a company today involves a lot of moving parts and lots of relationships. Think of this as your company’s ecosystem. Gulati says that having a deep purpose builds stronger relationships, which in turn strengthens your ecosystem. He says this transition will look like a “changing of a firm from an economic vision of a nexus of contracts,” where everyone is looking for their piece of the pie, to a “nexus of commitments,” where everyone is working toward that deep purpose. 

4. You’ll always have a true north to guide your next moves.

Gulati says, “Purpose is a compass.” The ups and downs of running a business can be brutal, but a deep purpose will keep you on track no matter what challenges you face.  

Finally, Gulati says, for leaders, a well-developed purpose helps them be more than just operators–they become inspirers. And that goes for not only inspiring employees in their day-to-day tasks but also inspiring them to work toward their own deeper purpose. That’s how leaders cultivate and grow their teams while also building a purpose-driven company from the ground up. Borrowing from Stanford University professor emeritus James G. March, Gulati says the world needs “leaders as both plumbers and poets.”

[ad_2]

Source link

Tags: Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Business Search, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login, Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login

Continue Reading

Previous 9 Tips to Get More User-Generated Content for Your Brand
Next Etihad Rail Signs Three Mous With European Companies To Exchange Knowledge and Expertise in the Railway Sector
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    

Archives

BL

Recent Posts

  • How Finance Companies Can Help You Scale Your Business
  • Why Business News Is Crucial for Your Company’s Success
  • Are Tariffs Crushing US Exports?
  • How to Excel as a Finance Analyst in a Fast-Paced World
  • Unlock New Opportunities Through Business Networking
Intellifluence Trusted Blogger

Tags

Amazon Fba Business At&T Business Login Atlanta Business Chronicle'S Boss Baby Back In Business business Business Administration Degree Business Attire Women Business Card Design Business Cards Templates Business Casual Dress Business Casual Outfits Business Checking Account Business Credit Card Business For Sale Near Me Business Intelligence Platform Business Lawyer Near Me Business Loan Calculator Business Name Ideas Business Professional Women Business Spectrum Login California Business Entity Search Capital One Spark Business Carl Weber'S The Family Business Charlotte Business Journal Custom Business Cards Delaware Business Search enterprise Florida Business Search Fl Sos Business Search Harvard Business Publishing Insurance For Small Business Kelley School Of Business Maryland Business Express Maryland Business Search Moo Business Cards National Business Furniture New York Business Search Ohio Business Gateway Onedrive For Business Online Business Ideas Paramore Misery Business Risky Business Cast Small Business Insurance Spectrum Business Customer Service Tom Cruise Risky Business

Partner Links

tolkymonkys
cinema24horas

links

The Stock Sparky Authority
Your Diet in Health

BR

kaleagent
CorporateInnovators

bp

backlinkplacement.com

nicolesmagicspatula.com | Magazine 7 by AF themes.

WhatsApp us