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"In times of heightened uncertainty, the need for meaning intensifies, and corporate purpose provides that meaning.

Alvaro Lleó, professor of people management at Tecnun, will participate in the webinar: 'Successfully implementing corporate purpose'.

FotoServiciode Comunicación/El profesor de Tecnun, Álvaro Lleó.

09 | 02 | 2021

The Alumni Office Tecnun has organized two webinars as part of the"Covid and then what?" series, with the aim of reflecting on the current situation and offering, from the hand of experts, tools and keys to thinking about the future. Alvaro Lleó, professor of people management 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.

Registration is still open for those who want to follow it online. Professor Álvaro Lleó explains in detail what corporate purpose consists of.

Corporate purpose is a term that is becoming more and more popular, why is it interesting to apply it in companies?

Purpose brings meaning and that is where its potential lies. When we find meaning in our work, the illusion and identification with the project arises, and from there derive a myriad of positive consequences. 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 the Purpose Strength Project, in which researchers from Tecnun-University of Navarra, the International University of Catalonia and IESE, together with professionals from DPMC and the Corporate Excellence-Center for Reputation Leadership, are working, aims to generate knowledge that will help organizations to effectively implement their purpose.

Is it something that only large companies can apply, or is it also open to all types of 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. It is clear that companies must be profitable, but profitability is only a necessary condition, not a sufficient condition, for the long term. The latter depends much more on generating lasting ties with the agents with whom you have relationships.

In our experience, corporate purpose resonates with, and is of interest to, those companies that are concerned with generating solutions that positively impact the 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 corporate purpose help companies in times of pandemic? How?

I believe that in times of greater 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, taking the form of measurable actions and objectives. We have data that show that when the purpose is consistently implemented, that is, 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 the purpose are aimed at developing the three dimensions in unison. Connecting the purpose with the business model, we define a purpose-centered strategy. We propose a leadership style focused on the purpose in which we clarify again and again why we do things, seeking that everyone has autonomy and is the protagonist of his or her development. Finally, reviewing management systems so that they are aligned with the 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 consulting.

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