I saw a Patagonia label on a friend’s jacket, and it caused me to think about Patagonia and about corporate purpose. Patagonia achieved remarkable results by re-framing their corporate purpose–from more devoted customers and stakeholders to dedicated employees. Why has Patagonia become a brand so closely aligned with doing good? How did they do that?
According to a 2019 Forbes article: in 2018 the company “changed their mission from a product/purpose hybrid of ‘Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis’ to the clear, short, purpose-driven mission ‘Patagonia is in business to save our home planet.’
There’s no doubt that Patagonia’s change in company purpose has been good for business, and a re-framed purpose statement can be good for yours. It helps in many ways. In a 2020 blog, I highlighted six positive outcomes that result from a strategically re-framed purpose statement: [Read more…]