While all companies have their defined mission statements, taglines and a corporate strategy to boost, few are properly executing the same. Nokia for example goes by the tagline “connecting people”, as it was a mobile phone behemoth in the 1990s and 2000s. Yet, Nokia’s own game fell badly post the launch of the first iPhone by Apple and subsequent forays by others into smartphones which were able to connect people far more than Nokia’s feature phones were. Similarly, many companies in the long run have failed to truly execute their enshrined purposes. The first way to do so, is simply to know one’s purpose as all of Elon Musk’s companies- SpaceX, Tesla and previously PayPal- seem to be good at. Then they should target at achieving the golden mean which is the middle point between excess and deficiency as stated in Aristotle’s philosophy. A sense of agility or corporate plasticity needs to be developed where the company is in a position to tweak itself depending on the needs and circumstances. Finally, the operationalization needs to be led proactively by people from the very top.

Source:https://hbr.org/2017/11/the-best-companies-know-how-to-balance-strategy-and-purpose

Uploaded Date:15 November 2017