Since the French Pact law (May 2019), purposes have been emerging, even if a few pioneering companies had anticipated the call by several years. Like a plant, the purpose can either be maintained or wither away. The challenge is to bring the purpose to life, to embody it within the strategy and the operations, in leaders’ and managers’ practices. A purpose acts as a compass for the changes that a company must undergo.
Nearly half of the French CAC 40 companies have published a purpose, but they all face the same challenge: how to bring it to life in the long-term? How to link it to the medium-term strategic plan? How can the alliance between stakeholders upon which it was built be sustained? How can it be applied to operational processes, along with the appropriate quantitative indicators? How can it inspire the company’s CSR commitments?
For the purpose to be fully effective among employees, investors and stakeholders, it must be implemented and monitored, otherwise there is a risk that the company will be accused of merely displaying a façade of a purpose.