By Chris Petersen and Adam Simon
One of the most impressive speakers at the recent Gitex Conference on Digital Marketing, was Christian Eid, the VP of Marketing at Careem, the start-up which has shaken up the Middle East with its model-busting alternative to Uber. Above all, he stated, you have to know what your purpose is. How important is this for strategic collaboration?
Why is purpose important
Purpose is like the DNA of a business, and underpins all the strategic decisions which an enterprise makes. This is Careem’s purpose: “To simplify and improve the lives of people, and build an awesome organization that inspires.” Everything is built round this.
5 Reasons why purpose helps create Strategic Collaboration
- Purpose is attractive
People can easily relate to companies with clear purpose. They know what the company stands for, they understand its values. It is easier to recruit people into a company with clear purpose and then to retain them.
- Purpose creates stability
We live in an ever-faster changing world. In this environment, it is important to have fixed compass points, to know where your North (or South) is. A company with purpose can be fast-changing. Careem adapts quickly, in their own words, they are a “moving tribe of tigers.” But they have clear values elaborated around their purpose, and these do not change.
- Purposeful companies know their limits
By having a clear definition of your own purpose, you eliminate those activities which are not core to your being. This requires humility and creates focus. It also opens the door to collaboration with others whose purpose complements yours. People become, resourceful and look to partnerships to complement the skills and competences of their own companies.
- Purpose creates motivation
If you want to succeed, you need to motivate people. Money is a hygiene factor, purpose is rocket fuel. As people unite around their goals, so they are able to achieve anything. “We are a spaceship headed to the moon with a beating heart”, is the way Careem expresses it. How motivating and inspiring is that! They have abandoned corporate jargon for words which drive people forward.
- Clear purpose eliminates waste
Waste equates to cost, and in today’s retail and technology environment, there is no room for either. Purpose equates to clarity and the courage to resist waste, which in the end means more profits. Bureaucratic organisations are the opposite – no-one feels the same passion for eliminating waste. In a purposeful company, people care.
There are many companies in the technology sector who have a clear purpose. Some of them are amongst the most inspiring enterprises in the world. It is important for retailers, distributors and vendors to harness that purpose into a collective and strategic collaboration to make the technology ecosystem more responsive to customers and more profitable for everyone.
Chris Petersen and Adam Simon are collaborating on a series of blogs that explore the rise of strategic collaboration and new customer centric ecosystems. This blog series will culminate with a worldwide panel discussion at the ContextWorld CES CEO Breakfast, where a global Brand, Distributor and Retailer will share their perspectives on strategic collaboration.
If you are interested in more information on this CES event, contact email@example.com.