Abstract
Since the financial crisis, many business leaders and organizational researchers have begun in earnest to ponder the question of “corporate purpose.” This re-evaluation of the raison d’être of companies has culminated in the question of whether companies have any other purpose than to generate money for their owners. Although the debate is not new in management research and literature, it is certainly enjoying a renaissance. In fact, pondering the purpose of a company could be much more relevant in terms of its reputation and success than previously thought. When a company communicates its purpose well and systematically, it also helps the company to stand out from the competition while reducing reputation risks and ultimately creating better financial performance. If a company’s raison d’être is clear in the minds of its stakeholders, it simultaneously legitimizes the company’s activities.
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Notes
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Coleman (2013).
- 2.
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Hoofnagle (2009).
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Burson-Marsteller & IMD in cooperation with Penn, Schoen, & Berland (2008). Performance with purpose study. Almost 200 in-depth one-on-one interviews were conducted to explore the theme in 11 countries across Europe: Belgium, Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland, and the United Kingdom. Approximately half the interviews were conducted with company respondents (CEOs, corporate communications heads /managers) and half with non-company respondents (media representatives, NGOs, financial analysts, academics, government officials).
- 10.
Burson-Marsteller & IMD (2013). The power of purpose study.
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- 12.
Burson-Marsteller & IMD in cooperation with Penn, Schoen, & Berland (2008) Performance with purpose study.
- 13.
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Pearlstein (2014).
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The Aspen Institute Business and Society Program (2014).
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The Aspen Institute Business and Society Program (2014).
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Burson-Marsteller & IMD (2010). Corporate purpose impact 2010.
- 18.
Martin (2011).
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Weeks et al. (2010).
- 20.
Burson-Marsteller & IMD (2011). Corporate purpose impact 2011.
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- 22.
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Eccles, Ioannou, and Serafeim (2011).
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Padró (2014).
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According to Burson-Marsteller.
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Burson-Marsteller & IMD (2013). The power of purpose study.
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Heinonen (2006).
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Puohiniemi (2003).
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Heinonen (2006).
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Burson-Marsteller & IMD (2015). Keeping it real—How authentic is your corporate purpose?
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Burson-Marsteller & IMD (2015).
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Aula, P., Heinonen, J. (2016). The Power of Corporate Purpose. In: The Reputable Firm. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-319-22008-6_4
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