The right Core Purpose is essential for the purpose-driven organization.
Your Core Purpose (which should last at least 100 years) should not be confused with specific goals or business strategies (which should change many times in 100 years). Whereas you might achieve a goal or complete a strategy, you cannot fulfill a purpose; it is like a guiding star on the horizon—forever pursued but never reached. Yet although purpose itself does not change, it does inspire change. The very fact that purpose can never be fully realized means that an organization can never stop stimulating change and progress. Don’t confuse your Core Purpose with your BHAG. Your Big Hairy Audacious Goal (BHAG) is a goal that is able to be achieved within 10-25 years.
Your Core Purpose will keep you on track as you make strategic moves, ensuring your team is aligned to a common reason for being. Review your Core Purpose at every Annual Planning Session to keep it front of mind as you plan another successful year.
Knowing your Core Purpose will enable you to hire and retain the RIGHT people to execute for growth in your business and help you achieve the goals of your 3-year strategic plan (examples).
It doesn’t just describe the organization’s output or target customers; it captures the soul of the organization. This is literally the company's purpose to be in existence.