The Purpose is different from Mission.

 

The Purpose is different from Mission. A mission can be summed up as ‘we make X products for Y consumers.’ Walt Disney, for example, could have said, ‘we make cartoons for kids.’ That describes what the company does. But that doesn’t explain the core reason why Disney exists.

A purpose, by contrast, put forward an enduring vision that will last for hundreds of years, based on values that never become outdated. For example, Disney’s Purpose is ‘to use our imagination to bring happiness to millions.’

If Purpose and Profit come into conflict, visionary companies put Purpose first. As a result, the companies that stand the test of time are the ones that focus less on short-term profits and more on a long-term Purpose. 

Companies need to create profits to sustain themselves, but profit is not their reason for existence. ‘Profit is like oxygen, food, water and blood for the body’, Jim Collins says. “They are not the point of life, but without them, there is no life.’