1004GBS Purpose of Business
The COVID-19 pandemic has challenged the viability of many businesses. Businesses that are surviving the economic crisis are implementing drastic revisions of business strategy and operation. But how does business undertake these revisions? This assessment presumes there are better ways of re-strategizing than others.
Before a business should develop a business plan, business managers and leaders should learn to create an essential statement of purpose. Based on a purpose statement, managers and leaders can develop a successful purpose-driven business strategy to drive organisational and cultural change, and that ultimately leads to improved performance measured by social, environmental and economic indicators. This assessment requires you to create a purpose strategy using a Business Purpose Canvas. You should use the same organisation fromAssessments 1 & 2.
The elements of the Business Purpose Canvas you will use are:1. Purpose Statement (using approach from Assessment 1)2. Map of values that are shared by the individuals in the business, the business and stakeholders3. Undertake value chain SDG mapping (using approach from Assessment 2) 4. Identify social and environmental trends that the business can positively influence5. Outline broad KPIs chosen to measure success6. Develop meaningful purpose with employees through shared purpose7. Identify how the business can partner with and influence its supply chains through its purpose
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