Know Thy Fundamental belief

The first thing the Board of Directors and the CEO need to clearly articulate is the fundamental belief behind the existence of the organization. We all know organizations exist to make money, but they are all created because a bunch of entrepreneurs believed they could do things differently and be successful doing so. They have identified an area where the performance is not yet good enough. As an example, one could say “In an economy that is built on ideas, winning organizations are built on talent. At XYZ company, we believe that organizations able to attract, grow, and retain human capital will drive the new economy.” This fundamental belief has to transcend the realm of the founders and become shared by all stakeholders. Employees will work for you, if they share your belief. Customers will buy from you if they share your belief. Investors will invest in you because they share your belief. The fundamental belief answers the question “why does this organization exist?”

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