“It’s only when you start to really press CEOs on precisely what is the purpose of their business that you realize that they often do not have a clear notion of it,” says Colin Mayer, a professor at the Saïd Business School at Oxford University. “Or it often does boil down — in the case of publicly listed companies — to something about profit, rather than about companies producing goods and services that benefit us as customers and communities and, in the process, producing profits.
”Developing a shared sense of meaning inside an enterprise and communicating what the company stands for and "why" it is in business to the external world is a powerful tool for shaping culture, driving innovation, and creating a sustainable organization. This job of “creating meaning” for an organization is one of the most important functions a leader has.
As stated by Majdi B. Abulaban, president of Delphi E/EA, Delphi Engineered Components Group & Delphi Asia Pacific: “If you are in business, you will face disruption and change. Find meaning in what is happening around you. Only then can you explain it and have people embrace it with a common purpose. Only then can you reinvent yourself.”
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