The business community has recognized that maximizing collaboration - both within and beyond a company - can add significant value. Organizations can benefit from considering and aligning the broader interests of stakeholders in addition to the focusing on the interests of shareholders. Thus, yesterday's corporate culture buzzword - "mission statement" - is being replaced by a much more inclusive concept: shared mission. This piece looks at what a shared mission is, its benefits and how to approach building one for your company.
A mission statement summarizes an organization's purpose. This purpose typically has been dictated from above, with a keen eye on the bottom line. A shared mission, however, incorporates the missions of individuals within a workforce. It defines a purpose that allows everyone involved within the organization to share a value that addresses broader components beyond financial such as social, community and environmental elements.
The main benefit of a shared mission is that it fosters a sense of ownership throughout the workforce. This can translate not only into increasing the passion and loyalty of its employees, but also enhancing innovation and creativity. The employee is now part of the mission, not merely executing one. An ancillary benefit could be a community that supports the organization's fundamental values.
Selecting a shared mission is easier said than done, but there are clear steps to build and maintain one:
Collaboration is the latest organization wave. Mission statements primarily for shareholders are being swept away by the shared missions of stakeholders. Organizations that craft and implement shared missions will have smoother sailing ahead.