I want to distinguish between a mission and a mission statement. I will not help you wordsmith your mission statement. I frankly don't think it matters.
But a great mission generally combines three things:
1. a long-term commitment to maximize some aspect of human flourishing (in the book I explain how this is the true definition of what it means to create a for-profit venture)
2. a set of values that include a determination to make principled decisions aligned with this goal, such that every decision the org makes is coherent
3. the strength to resist both the inner temptation and the outer pressure to defect, betray, or otherwise abandon the long-term goal
In the book I go into a lot more detail about how to do this, including how to make fiduciary commitments to the human beings you'd rather die than betray.
"1. a long-term commitment to maximize some aspect of human flourishing (in the book I explain how this is the true definition of what it means to create a for-profit venture"
How does this square with the widely taught business-school definition of a for-profit entity being something that aims to maximize shareholder value?
Not eries (obviously) but if you switch out shareholder for stakeholder i.e. maximise stakeholder value, you gain a wider set of responsibilities more aligned with Eric's comment. This is in itself not a new idea, it partly emerged out of the work of R. Edward Freeman. His original book on stakeholder management was published in 1984 and over the last decade has become at least a regular discussion topic at many business schools. However, the idea needs to gain far more momentum. Hopeful Eric Reis's new book also helps move the discussions forward - looking forward to reading it.
Boy, do I make my best effort in the book to take this idea out to the woodshed and show how this is a complete misunderstanding of what it means to be a for-profit entity. I hope you'll read the book and then come back and let me know if you think I was able to make a convincing case.
I want to distinguish between a mission and a mission statement. I will not help you wordsmith your mission statement. I frankly don't think it matters.
But a great mission generally combines three things: 1. a long-term commitment to maximize some aspect of human flourishing (in the book I explain how this is the true definition of what it means to create a for-profit venture) 2. a set of values that include a determination to make principled decisions aligned with this goal, such that every decision the org makes is coherent 3. the strength to resist both the inner temptation and the outer pressure to defect, betray, or otherwise abandon the long-term goal
In the book I go into a lot more detail about how to do this, including how to make fiduciary commitments to the human beings you'd rather die than betray.
"1. a long-term commitment to maximize some aspect of human flourishing (in the book I explain how this is the true definition of what it means to create a for-profit venture"
How does this square with the widely taught business-school definition of a for-profit entity being something that aims to maximize shareholder value?
Not eries (obviously) but if you switch out shareholder for stakeholder i.e. maximise stakeholder value, you gain a wider set of responsibilities more aligned with Eric's comment. This is in itself not a new idea, it partly emerged out of the work of R. Edward Freeman. His original book on stakeholder management was published in 1984 and over the last decade has become at least a regular discussion topic at many business schools. However, the idea needs to gain far more momentum. Hopeful Eric Reis's new book also helps move the discussions forward - looking forward to reading it.
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Boy, do I make my best effort in the book to take this idea out to the woodshed and show how this is a complete misunderstanding of what it means to be a for-profit entity. I hope you'll read the book and then come back and let me know if you think I was able to make a convincing case.