Most successful companies have missions that proclaim a noble purpose of some ty

Question

Most successful companies have missions that proclaim a noble purpose of some type. Leaders frame a noble purpose that inspires and leads followers to high performance and helps the organization maintain a competitive advantage. People like to have a sense that their work matters and makes a positive difference in the world. The four basic approaches in framing an organizational purpose tap into the desire to contribute.

Discovery: Google, 3M, Samsung

Excellence: Berkshire Hathaway, AlliedSignal, Apple

Altruism: Dollar General, Dannon Milk Products

Heroism: Microsoft, Southwest Airlines, ExxonMobil

In your opinion, does every organization need a noble purpose in order to be successful over the long term? Explain and include at least one company (in addition to the list above) that seems to reflect each category of noble purpose and share it with your classmates.

Explanation / Answer

Company Example- General Electric (GE)

Discovery- GE always have been developing innovative products in various industrial/ healthcare and many business categories like - Wind Turbines, water treatment technologies, locomotive engines, advanced jet engines.

Excellence- manufacturing and selling Excellent products with advanced technology and service back up too, globally in fields of natural gas, oil and gas, power generation, manufacturing, health care, Financial Services and transportation industries. GE has always wanted to be either the number 1 or number 2 company in the market in a business vertical, else they divest. This is excellence in achievement.

Altruism- GE’s Research and Development in increasing fuel efficiency for Engines, development of Alternative fuels, and work on renewable power is the example of giving back to the society. Plus they have advanced mechanism systems to combat healthcare issues.

Heroism- development and implementation of smart machine-to-machine software and predictive and prescriptive analytics in various fields with IOT devices, deploying of integrated systems at all levels for all sorts of consumers- home, building, corporate offices, and governmental buildings, smart city projects etc.

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