Importance of purpose for an organisation

AN INTERESTING study published in the journal JAMA Network Open, recently reported that people with a purpose in life live longer. Anecdotally, that has never been in question. From our own observations, we see that the important thing is not the length of life they achieve but the meaningful and fruitful existence they have while living it. Having an unmistakable purpose is like having well-tilled soil to plant your shrubs, flowers and vegetables in. For an individual of any age, purpose is the key to a successful life.

It seems that the same is true of an organisation, whether profit-making or not. Non-profits, by definition, tend to have their purpose already clearly defined. They are usually in it for the long haul. A sustaining programme of work, with a clear purpose, is almost inevitable if you are not making a profit.

Motivations for building a business