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"In times of heightened uncertainty, the need for meaning intensifies, and the corporate purpose provides that meaning."
Alvaro Lleó, professor of Personnel Management Service of Tecnun, will participate in the webinar: 'Successfully implementing the corporate purpose '.
09 | 02 | 2021
The Alumni Office Tecnun has organized two webinars within the cycle"Covid and then what?", with the goal to reflect on the current status and offer, from the hand of experts, tools and keys thinking about the future. Alvaro Lleó, professor of Personnel Management Service at Tecnun, will participate on Wednesday, February 17 at 19h in the webinar: 'Successfully implementing the corporate purpose ', together with Nuno PittaCEO of DPMC, Beyond Business.
The registration is still open for those who want to follow it online. Professor Álvaro Lleó explains in detail what the corporate purpose consists of.
The corporate purpose is a term that is becoming more and more popular, why is it interesting to apply it in companies?
The purpose brings meaning and that is where its potential lies. When we find meaning in our work, the illusion and identification with project arises, and from there a myriad of positive consequences are derived. There are already a number of studies that show how purpose has a positive impact on attracting and retaining talent, individual commitment, collective unity, productivity, profits, reputation and attracting investment. However, it is not enough to define a purpose. It is one thing to have a purpose and quite another to live it. That is why, in the Purpose Strength Project in which researchers from Tecnun-University of Navarra, the International University of Catalonia and IESE are working together with professionals from DPMC and the Corporate Excellence-Center for Reputation Leadership, we aim to generate knowledge to help organizations to effectively implement their purpose
Is it something that only large companies can apply, or is it also open to all subject companies or institutions?
More than the size of the company, which has an influence, what seems to me to be decisive is that the company's management has a clear long-term vision deadline. It is clear that companies must be profitable, but profitability is only a necessary condition, not a sufficient one, for the long term deadline. This depends much more on generating lasting ties with the agents with whom you have relationships.
In our experience, corporate purpose resonates and arouses interest in those companies that care about generating solutions that positively impact people and the environment in which they operate. Therefore, I believe that corporate purpose is closely related to sustainability. We have already detected a good group of organizations concerned about being truly sustainable, which have ended up working on the definition and deployment of their purpose.
Can the implementation of the corporate purpose help companies in times of pandemic? How?
I believe that in times of great difficulty and uncertainty, such as the ones we are living through, the need for meaning intensifies. The purpose provides that meaning, clarifying why we do things and what we intend to do them, it motivates and excites because it defines a worthwhile cause and finally, it is operationalized in the day to day through actions, objectives and indicators with which to know how we are developing and how we can do it better.
What are the steps to apply it successfully?
We have a three-dimensional conception of purpose and explain it using the triad of head, heart and hands.
The purpose has to illuminate the head by providing a clear north towards which we are heading, it has to excite the heart by proposing a valuable and motivating goal , and finally, it has to drive the day to day, concretizing itself in measurable actions and objectives. We have data that show that when the purpose is consistently implemented, that is to say, when the three dimensions are developed in a balanced way, the effects on commitment are multiplied.
Therefore, the steps to follow in the implementation of purpose are aimed at developing the three dimensions in unison. Connecting the purpose with the business model , we define a strategy centered on the purpose. We propose a leadership style centered on purpose in which we clarify over and over again why we do things, seeking to give each person autonomy and to make them the protagonist of their development. Finally, reviewing management systems so that they are aligned with purpose.
You will be joined in the session by Nuno Pitta, CEO of DPMC, will he provide the business vision?
Yes, Nuno and the entire DPMC team have been working side by side with companies for more than 15 years to deploy and implement their purpose through the mission-driven management methodology. Nuno will tell through cases and examples how they work, the benefits of purpose and what are the benefits of combining research with consultancy service.