In the wake of the Banking Royal Commission companies are taking a step back to examine their organisational purpose, writes Jon Williams, who explains that there are 5 specific questions companies should ask customers in this process
Andrew Gerkens's insight:
'Too often, organisational purpose statements end up being marketing speak or catch-phrases describing how the organisation is going to save the world, whilst also being a successful business. Instead organisations should search for a balanced view of the role they play in society and provide a narrative which gives meaning to the many things that the organisation and its people do. Some questions to ask your customers and people on your way to an organisational purpose:
What important role does our industry or product play for society?
What do we add that is different or unique relative to the other players in the industry?
Who are we important to and what do they expect of us?
What would these people lose or miss out on if we didn’t exist?
How can we describe this complex combination without setting unrealistic expectations?'
In a time of drastic change, it is the learners who inherit the future. The learned usually find themselves equipped to live in a world that no longer exists. – Eric Hoffer
Andrew Gerkens's insight:
This article by Andrew Brown explores an adaptive response to issues raised by the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. It is a great exploration of culture and opportunities to build capacity.
“When we experience the world as too complex... there are only two ways to mend this mismatch – reduce the world’s complexity or increase our own.” – Robert Kegan
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'Too often, organisational purpose statements end up being marketing speak or catch-phrases describing how the organisation is going to save the world, whilst also being a successful business. Instead organisations should search for a balanced view of the role they play in society and provide a narrative which gives meaning to the many things that the organisation and its people do. Some questions to ask your customers and people on your way to an organisational purpose: