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Diamond StandardTM Purpose
Business enterprise Purpose drives everything! Make yours clear, compelling, durable, and connection-worthy, in distinctive and concentrated service of societal utility.
In recent decades numerous highly regarded thought leaders and authors have emphasized the overarching importance of business Purpose (with a capital P) to the successful conduct of business enterprise.
“Purpose is where performance differences start. Nothing is more important to the survival and success of a firm than why it exists, and what otherwise unmet need it intends to fill. It is the first and most important question a strategist must answer.
.… Every concept of strategy that has entered the conversation of business managers—sustainable competitive advantage, positioning, differentiation, added value, even the firm effect—flows from purpose.
… Above all, a good purpose sets the stage for value creation and capture.”– Cynthia A. Montgomery
Harvard Professor Montgomery nailed it! The quotes above come from Chapter 4 (Begin with Purpose) of her book, “The Strategist: Be the Leader your Business Needs”.
What makes a “good purpose”, one that “sets the stage for value creation and capture.”? Vision21 CEO, Melrose, set out to answer that question by distilling the essence of the numerous books and articles he had read on the subject. He concluded that seven elements (six descriptive adjectives and one principal strategic thrust) captured the essence of the best thinking on the topic. Make business enterprise Purpose “Clear, Compelling, Durable, and Connection-worthy, in Distinctive and Concentrated service of Societal Utility”. At some point later, Mr. Melrose connected the dots and realized that his Purpose guidance also captured the essence of a diamond. He mused “I attempted to articulate a ‘gold standard’ Purpose prescription and ended up doing more than 100 times better than that.