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Ford has no interest in making concessions or adhering to accepted business procedures. Instead of waiting for clients to express their needs, he provided them with what they weren't even aware they wanted. Ford continued to develop his goods with the unwavering conviction that they would alter the course of history. Ford, however, was more concerned with displaying his authority than with how it would affect his company's course or societal welfare, which occasionally caused him to make reckless choices. He hired ex-convicts to work on his manufacturing line because he was so motivated to change the car business and to help them get back on their feet. Ford even went so far as to hire thugs from Detroit, which caused issues with workplace physical violence. In this manner, becoming a hero is a noble goal, but it may also go out of control if it isn't balanced with other moral standards. Discovery, greatness, generosity, and heroism all interact to benefit your business in different ways. Find out how by reading on! Chapter 6 - Finding your company's purpose may boost morale and make it a fantastic place to work. According to Prussian commander and military thinker Carl von Clausewitz, moral considerations in conflict are "the precious metal, the genuine weapon, the finely-honed blade," whereas physical ones are "nothing more than the wooden hilt." The same holds for companies. Similar to how troops with good morale are more likely to prevail in war, businesses with high morale also tend to be more successful. A 2003 research by the insurance firm Towers Perrin discovered a connection between high shareholder returns and staff morale. Therefore, the more satisfied your people are at work, the more likely it is that your business will generate larger profits. Additionally, if workers don't enjoy working there, your business' performance may suffer: According to a PriceWaterhouseCoopers research from 2002, there is a strong association between absenteeism, which is associated with low morale, and profit levels that are below average. But how can you make sure that your staff members are motivated to do their jobs? Defining the goals of your business is a good method to provide them with motivation to execute their jobs. Consider the American multinational company 3M, which is well-known for its adhesives. The engineers at the organization believed in the idea that the company's goal was to address issues. One engineer, in particular, was so eager to solve a client's problem that he ended up developing a completely new type of masking tape, which would eventually result in the Scotch Tape we all have in our desk drawers presently. The Post-it Note was created by another worker at the same firm to address his issue of being unable to locate the proper page in his hymnal. These workers were motivated to go above and beyond to make a difference by just having a purpose, and in the process, they produced the things that we all know and love. Chapter 7 - Innovation is shaped and strengthened by purpose. The most inventive businesses frequently appear to be the most prosperous ones. Innovation is a fantastic competitive advantage, but without a clear goal to guide it, it won't lead to long-term success. Global consulting firm Booz Allen Hamilton polled the top a thousand businesses with the biggest R&D spending budgets. Many were surprised by the survey's finding that there was no connection between innovation and business success. So what maintains the leadership of the creative businesses? Well, a lot of them use the need for discovery to propel their successes. Sony is a good example. To "create a place of work where engineers may feel the thrill of technical advancements, be mindful of their purpose to society, and work to their hearts' delight," firm founder Masaru Ibuka started the business. The early Sony team's ability to be freely inventive was made possible by this distinct aim, and their voyage of invention started with Japan's first tape recorder. Innovative thinkers may take extreme risks and alter the norms of their industries or enterprises when they have a clear purpose. Sam Walton of Wal-Mart, motivated by his desire to provide customers with the most reasonable prices possible, radically reinvented his industry. He would try to cut costs as much as possible during buying trips, even at the expense of losing staff, to maintain low prices for his clients. His workers shared hotel rooms and preferred to walk over using cabs. Walton even made the decision to establish stores in abandoned cattle yards and bottling facilities, taking the chance of having a less appealing appearance than rival K-Mart while yet maintaining competitive rates. Chapter 8 - Businesses that have a purpose are better competitors. Everyone wants to know the specific strategy for winning the race. Although there isn't a foolproof method, strategic positioning is one of the greatest ways for your business to gain a competitive edge that will last over the long term. This only implies that your business must occupy a unique place in the market that neither competitors nor buyers can pick. Although it's true that's easier said than done, it is nonetheless feasible! Creating habits and connections is the first step. You may unify your business under a potent, distinctive strategy by synchronizing what employees do and how they interact with one another. A corporation without direction is more prone to make unnecessary strategy changes. Companies are unlikely to consistently gain an advantage over rivals by moving between multiple tactical strategies in the hopes that one will stay. Companies without a defined mission may sometimes adhere to outdated techniques even when they are no longer effective. Your organization's routines and connections will be a lot easier to organize if you have a clear aim in mind. Your staff should follow the ideals of discovery, benevolence, excellence, and heroism in all of their interactions and tasks. Warren Buffett was able to run his business with a little touch because of a trustworthy, common understanding developed via values. He didn't need to instruct his staff on proper behavior because they were already aware of it from his system of values. The countless daily choices that affect a company's strategic position in the market may be reliably guided by purpose. When your business has clear objectives in place, questions like "Should we invest in product development?" or "What kind of training should we give our customer-facing staff?" are simple to resolve. Purpose: The Starting Point of Great Companies by Nikos Mourkogiannis Book Review You'll need values that serve as your road signs if you want your business to be a market leader, a trailblazer in innovation, or a fantastic place to work. For some of the most prosperous business executives in the world, the four objectives of discovery, excellence, altruism, and heroism have proven to be potent instruments. Why not start applying them to your vision? Discover the motivation behind your actions. Are you passionate about learning new things? Or do you aspire to achieve success simply for the sake of it? Do you want to act bravely to change the world or do you want to offer solutions that will benefit the greatest number of people? Consider the motivation behind your behavior to gain insight into how to apply it to your business.