Quick Insight
Purpose creates clarity but also introduces polarities that need to be managed. The tensions created by purpose are matched by the motivation provided by purpose. The complexity created by balancing purpose and profit is offset by the clarity provided by purpose.
“My purpose statement often inspires me to take action and risks I might otherwise avoid. By reminding me why I am doing what I am doing, it encourages me and recalls my larger connections… We must dare to play a bigger game. With higher purpose, the home runs become more challenging and the play more demanding. The bottom line expands, and success takes on new meaning.” – Robert J. Wright in Beyond Time Management: Business with Purpose
Don’t think purpose makes business easier. I’ve been the CFO of banks and non-profits. It’s much harder to measure performance when profit isn’t the only measure of success.
Purpose creates clarity but also introduces polarities that need to be managed. Profit is balanced with other values. The needs of owners are balanced with the benefits to other stakeholders (i.e. customers, employees, and the community).
The tensions created by purpose are matched by the motivation provided by purpose. The complexity created by balancing purpose and profit is offset by the clarity provided by purpose.
I wish you wisdom to manage the polarities in your business. I wish you well.
- Rob Stephens
Further Insight
CFO Perspective Resources
Get all the CFO Perspective resources with a FAST (Finance and Strategy Toolkit) membership.