These days, it seems like most companies are talking about their “purpose.’ Those that aren’t are searching for one. But how does purpose get defined? Who defines it? And how can a company make sure its purpose isn’t just “words on a wall”? Jeremy Schwartz has some thoughts on the matter. He’s the former CEO at The Body Shop and the former joint CEO at Pandora. He’s also held leadership roles at Coca-Cola, Sainsbury’s, and L’Oréal UK. Schwartz visits the podcast to share his perspective on how, when properly crafted around customers, purpose provides a reference point that can springboard new ideas and innovation. He says companies should ditch hollow “mission,” “values,” and “vision” statements and instead replace them with a clear, timeless, and actionable purpose.
Listen to this podcast episode to learn:
- Why creating a purpose takes guts, courage, and, above all, the willingness to listen to – and learn from – customers
- What all companies (especially FMCGs) can learn from the Silicon Valley tech giants about customer-centricity
- How brands like Costa Coffee are getting purpose right
- Why big companies can no longer afford to operate with a “production mindset”
- The value of “intrapreneurship” and how it can accelerate growth at big companies competing with nimble disruptors
- What Jeremy has learned from Tesco’s Terry Leahy and Amazon’s Jeff Bezos