engleski

Purpose-Driven Business: The Role of Values

Modern business conditions and significant changes that we are witnessing impose the need for new business models. Although it is already a tradition for companies to define and proclaim their mission statements, the practice of purpose-driven organizations is just starting to live. Focusing on what is being done, and even on how it is being done, is no longer enough – successful organizations need to answer why they do what they do, and what their purpose is. On the other hand, managing organizational values, as a guiding principles under which the organization operates, can significantly help the creation of purpose-driven organizations. This is particularly the case when organizational values are managed in a balanced way, i.e. when the organization seeks to develop values from different categories equally. A balanced approach to managing organizational values helps organizations to focus on their key stakeholders and to draw attention to the purpose of their business. Additionally, recent studies show that organizations with balanced values achieve a greater measure of organizational effectiveness and success in general. Balanced organizational values can therefore significantly help in finding the right purpose of the business, as an essential resource in ensuring the trust of various stakeholders. Creating purpose-driven organizations, which use purpose not only as a starting point but also as the main goal of doing business, becomes an imperative in modern business in which no stakeholder wants to be unimportant. Creating purpose-driven organizations is therefore no longer a trend, but a "must-have" concept for long-term sustainable business.

purpose-driven business ; organizational values ; new business models ; balanced values

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