Will your corporate purpose stand the test of time?

Medtronic is one of the leading medical technology companies in the world. Medtronic’s founders articulated a powerful mission statement way back in 1960. This mission has guided the organization’s actions ever since -- 60 years and counting! Their mission defined their corporate purpose and guides their strategy as a company.

As Black Lives Matter protesters continue to march and communities take a hard look at the inequalities in our society, purposeful CEOs are taking action. Going beyond issuing statements of support, they are examining how they need to do more to address embedded system issues that don’t seem to get better over time, but in fact can grow worse.

Times of crisis put intense pressure on CEOs and leadership teams. How do we maintain business continuity? How do we support employees and their families? How do we reset expectations with investors when the future is uncertain? And how do we make tough calls on layoffs, closures, return to work and other critical decisions with a higher purpose in mind?

I am encouraged by the actions of many CEOs who are putting the safety and wellbeing of their employees and the larger world community ahead of short-term profits. This signals that they deeply understand the value of taking care of all stakeholders and that the decisions they make in the short-term for the greater good will ultimately benefit their companies in the long-term.