Punit Renjen: Purpose Before Profit
on Friday, June 14, 2019Punit Renjen Money Quote saying as CEO of Deloitte that a company mission must be guided by more than profit in order to have meaning in the world. Punit Renjen said:
“An organization’s culture of purpose answers the critical questions of who it is and why it exists. They have a culture of purpose beyond making a profit” — Punit Renjen
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This quote from Punit Renjen is emphasizing the importance of organizational culture and purpose beyond just making a profit. It suggests that the strongest organizations are those that have clearly defined their identity, mission and reason for existing beyond just financial gain.
They understand “who they are” as an entity and “why they exist” in a broader sense than just turning a profit. Having a deeper culture of purpose helps provide direction, motivation and meaning for an organization’s employees, customers and stakeholders.
It indicates the organization wants to serve a higher goal or ideals beyond the bottom line. So in summary, Renjen is advocating that companies establish a culture with a strong sense of purpose, identity and values beyond monetary objectives alone.