Last year we wrote a white paper entitled "Purposeful Performance, Making it Happen", its a topic that we discuss regularly with CEO's and Executive Teams. The power of purpose can be truly transformational for organisations, teams and individuals.
The difference between average performance and excellence is often not skills or knowledge based, it's often attitude - motivation levels and clarity of direction. Purpose drives excellence in all those areas.
So how does it cure short term thinking? Well it does and it doesn't! As discussed in this excellent article a clear and easily communicated purpose actually enables better short and long term decision making.
Just keep purpose at the core of every decision, ask yourself "what outcome best aligns with our core purpose".
It's tough being a CEO, having clear organisational, team and individual purpose makes it easier.
A purpose-driven story of value creation that is clearly and powerfully told is a CEO’s first line of defense against short-term pressures. Once in place, it both generates commitment of employees and customers and puts the short term and the quarter in context as the immediate building blocks to longer-term goals. The story can then be referenced to justify business decisions that build, rather than erode, the fundamental assets that underlie long-term value creation: trust-based relationships and distinctive firm capabilities