Why do we exist? We often ask senior leaders: Can employees three, four, and five layers away from the C-suite say what your company does that adds unique value? why do we exist? As the Times quotes Jamie Dimon in a recent interview, âWe looked at this thing [the original Business Roundtable statement] that was written in 1997 and we didnât agree with it. At one point, one of the participants, a CFO, vociferously exclaimed âthe only purpose of a company is to create shareholder value!â Heads nodded around the table, and I diligently copied that phrase down, certain that Iâd captured a truth as essential as Sir Isaac Newtonâs three Laws of Motion. Of course, you don't want a bunch of "yes" people or clones surrounding you, but you do want to attract people with similar values or people who respect your values. We … We will cover the detail later in the document, but registration in itself is a relatively simple process. “Joe, hit the nail on the head. I’ve a very simple view of why companies exist, and it’s not premised on delivering shareholder value or making pots of money for the owners. What is the goal of a company? Why Do Silos Form and How Can We Knock Them Down? In his foreword to Sam Crabtree’s book Practicing Affirmation, Piper writes: “The point of being created in the image of God is that human beings are destined to display God. As the logistics industry grows, the volume of employee theft is skyrocketing. I belong to several groups on the Linked In web site. Print: Email: ... Our new HR manager will be advised to take a look at existing employee files or, if no files exist, gathering all the papers into coherent personnel files. Why canât we just do it our way? (Of course, anyone with experience of owning or running a company will question who I’m referring to when I say, in […] Paul and Travis wanted to build a company where they could own their career and personal lives and work for themselves, not some corporation. Iâve been talking with a lot of founder friends about this very question. Include your company values in your job listings, and you'll attract the people you want into your business. We must use Wildbit as a tool to enable us to live rich, fulfilled lives. However, there are … 1.Because of profit - Business men ... i am always on research looking for a perfect way to get rid of this terrible disease as i always knew that what we need for our health is right here on earth. In other words, a mission statement isn't a business plan that explains how the entity will turn a profit; it's a statement that defines the motivation for trying to turn a profit in the first place. With all due respect to Mr. Dimon and his colleagues, itâs not clear why it took them more than two decades (not to mention two decades that have witnessed perhaps the most social and business change, growth, and volatility since the Industrial Revolution) to rethink their roles as CEOs. While this is an important result of acompany’s existence, we have to go deeper and find thereal reasons for our being. They are given a âtake it or leave itâ offer and know that if they canât produce the clothing at a low enough price, the work will be given to another factory. It may sound too simple to work, but that’s exactly why it … Include your company values in your job listings, and you'll attract the people you want into your business. It must have been so much easier in the 1980âs and 1990âs when business executives could rest assured that delivering shareholder value was all that mattered. Typically a startup company has 10,000,000 authorized shares of Common Stock, but as the company grows, it may increase the total number of shares as it issues shares to investors and employees.The number also changes often, which makes it hard to get an exact count. And we should qualify âprofitableâ: profitability means long-term sustainable returns, and each word in that phrase is critical. This means a very good living financially, a safe environment to be free and grow, and a balance of work to enable time for the important stuff. Why can’t we just do it our way? Companies or businesses exist only if they continue to provide value for the customers. Why so Sweatshops Exist? why do we need an HR department in a company by Devesh Kumar Sharma - As company grows, there is a need to administer the HR function, but that doesn't necessitate an HR Department. To send us to heaven or hell; is the explicit response. This is who we are, why we exist and what we believe in. Early on in my new career I attended a forum whose participants were senior executives from major companies, and my notebook was ready. But why does God want us to take a test? So why then, does Wildbit exist? Why do companies exist? That’s what images do. In simple terms, the purpose of a company is to have a meaningful vision and then to be profitable in achieving it. If a company listens to its customers, it will market and sell those products to its customers. Their choice to buy from you says as much about them and their beliefs as it does about you. Why Does a Company Exist?“Many people assume, wrongly, that a company exists simplyto make money. A company limited by guarantee with a share capital: A hybrid entity, usually used where the company is formed for non-commercial purposes, but the activities of the company are partly funded by investors who expect a return. Sitima Fowler , blogger Published 12:55 p.m. So weâve decided on focusing our marketing efforts elsewhere. I will try to condense the work of Coase and other economic thinkers who spent a lifetime researching this. Putting the work in to clearly stating your mission is often overlooked by startups, and often diluted into something in-actionable in large organisations. No, it wonât. With complete autonomy of their schedules, time off, and career goals â PatraCompany ensures that all of our employees can achieve an entrepreneurs lifestyle just like Paul and Travis. I bet that’s a question you’ve asked yourself while looking up to the skies or seriously trying to reflect on certain things, like how we feel and react to things. Their main agenda item, it turns out, was to reconsider that definitive truth as stated by the CFO above. We all ponder this question. Why canât we just do it our way? Q: Why do we humans exist? Are those leaders willing to change, and will they hold each other accountable to doing so? Reasons Why Business Exist There are three main reasons that businesses exist. From a customer’s perspective there is no compelling reason to buy from them and any sales they do make is just because they happen to be there. But whereâs the middle? Updated June 24, 2020: How Many Shares Does a Company Have? Either way, the objectives are the same, to register your new company and all the details at Companies House. In this case, the mission statement will answer questions like why do we exist; what is our business; who are our customers; what do our customers value; (Henman, 2010). It’s that simple. Weâll send you insights on how to build a people-first business. All of which misses a key point: whatâs most fundamentally at stake in the Roundtableâs re-articulation is less the nature of a company and more the nature of its leader. Most businesses exist in order to earn a return for the business owners, and the potential for profit is a key motive for entrepreneurial activity. 5 thoughts on â The Nature of the Firm: Why do firms exist? Ask the WHY question again and again (5 times - Donât cheat and stop with 3 whys! Their reason for existence is to survive and pay the bills of the owner who is usually only just getting by or possibly not even. There are other less obvious, but equally compelling reasons why a company might decide to invest in a WMS. Ronald Coase, the author of âThe Nature of the Firmâ (1937), turns 100 on December 29th key to happiness is the people around you, Four-day workweeks: the experiment that never stopped, How to support employees in the upcoming US election, How companies can support parents during COVID, Measuring Wildbitâs Environmental Impact. But Itâs Actually About Leadership, not Policies or Politics. I believe a companyâs only purpose is to provide for its people to live a fulfilling life. Isnât there a story about the company in the middle — that makes a lot of revenue, maximizes profits, but exists for the people that build it? De facto, the job of every company is to remain viable, just as the job of every human is to breathe and to eat. It should be so clear but basic, Aunt Clara will finally understand. Without customers, companies don’t exist. Start with WHAT you do. We hear a lot about exits and big revenue goals. Tweet. A Mission Statement Answers âWhy Do We Exist?â What is a mission statement? Kudos to The Business Roundtable for taking their first step. Will focusing on content marketing, which everyone says works very well, make us jump out of bed in the morning? Purpose Why do we exist What is our intention If a company had no purpose the from BUS 3007 at Capella University A well-developed mission statement is clear, simple and understood by anyone who hears it. In the recent soul-searching that comes with a brand new year, a nagging thought just wouldnât go away. No, it wonât. When I entered the business world in the early 1990âs, my first job was with the global management consulting firm Booz-Allen & Hamilton. Itâs an existential question I asked myself after reading Ben Horowitzâs blog post: Lead bullets. This type of company may no longer be formed in the UK, although provisions still exist in law for them to exist. Inspired by Netflix, we decided to put our values and culture code together.We thought itâd be a pity not to share it publicly. I am a leadership advisor and coach who helps CEOs and other senior executives navigate through critical âinflection pointsâ in their careers and businesses. Running a successful company for the long term is not just about the âwhatâ: the products, the profits, the financing, the sales and marketing. If they retire or resign, the company will continue to exist and operate, which ensures security for employees. Some make an entirely unsubstantiated claim we exist because of random … Itâs an open question whether any of these companies will change the way they do business.â That said, itâs not so much the companies that need to change, it's the leaders who run them. It exists for the people that make it so. Fortunately I was reading Ron Bakerâs book Implementing Value Pricing at the time. So here it is. You see a lot of these businesses in retail. As an engaging recent podcast by Andrew Ross Sorkin explains, the University of Chicago Nobel Prize-winning economist catalyzed a shift to the primacy of shareholder value with his arguments in the 1960âs that the sole purpose of a company is to generate profit. That âmoreâ is not necessarily part of the companyâs strategy or articles of incorporation, nor can it be. Write the answer on the flip chart or white board. You can do it yourself, your accountant could do it for you, or you could employ the services of a company formation agent. An article in the most recent issue of The Economist warns against a move toward âcollective capitalismâ or the impetus for business leaders to address moral or political issues head-onâand with my co-author John Hillen Iâve made that exact argument here on forbes.com. "Why do we exist" is a reflective question that has been pondered for millennia. for me this was the information I needed but didnât get it in time but now I understand thank you for this articl,this is gonna help me in my exam. I suggest that you read this entire chapter so you can see how all the elements work together, and then craft your own mission, vision, and values … In this strategy, the steps to be followed in answering the questions above include developing a client statement, problem statement, statement of purpose, business statement, and value statement (Naisbitt, 2004). 4. I was recently invited to a lunch meeting with a group of Entrepreneurs who are some of the leading engineers of the Washington DC metro area. I bet thatâs a question youâve asked yourself while looking up to the skies or seriously trying to reflect on certain things, like how we feel and react to things. The factory owners are put in a difficult position. Perhaps the most influential personage in the Roundtable meeting, even though he couldnât attend because he is deceased, was Milton Friedman. Only leaders do. It cannot be less profitable because then it would take away from our shared profits. report. Posted at 11:47h in Brand, Business, Small Business by Akkordien. Better yet, why does anything exist? People don’t buy what you do, they buy why you do it. hide. And perhaps the biggest challenge for leaders is when the needs or goals of different groups of stakeholders are in conflict, when doing the right thing means being honest about a mistake or not meeting earnings estimates this quarter. Itâs as much about the âhowâ: the decisions its leaders make, the way they engage with and treat their stakeholders of all types, the kinds of cultures they build, the values they live and the behaviors they will not tolerate, and the impact they have on their communities and society more broadly. As the Timesarticle reports, Nancy Koehn, a professor at Harvard Business School, hit the nail on the head: â[These leaders] perceive that business as usual is no longer acceptable. In a recent planning meeting for marketing, we asked a big question: Will focusing on content marketing, which everyone says works very well, make us jump out of bed in the morning? Can they explain how that relates to what they do? At any rate, the noteworthy output from the Roundtable meeting, allegedly reflecting the changing perceptions of these leaders, was the issuance of a âStatement on the Purpose of a Corporation.â This Statement effectively reverses the groupâs longstanding position, as articulated since 1997 in its Principles of Corporate Governance, that âcorporations exist principally to serve their shareholders.â The revised Statement can be read in its entirely on the Business Roundtable Website, and the major shift in point of view is the assertion that a company must balance the needs of and commitments to all stakeholdersâincluding customers, employees, suppliers, and local communitiesâand not just its shareholders. But god couldâve stopped all that if he didnât put us here in the first place. Why Companies Exist In a speech David Packard , co-founder of HP, gave to managers in 1960 he said, “we inevitably comes to the conclusion that a group of people get together and exist as an institution that we call a company so they are able to accomplish something collectively which they could not accomplish … Yes we still provide the same ‘product’ but we have got our mojo back about why we exist and what we are here to do! Why do Humans Exist? Is it to provide a huge exit for its founders? So weâve decided on focusing our marketing efforts elsewhere. Mission statements get at the heart of why a company exists, rather than how it exists. We also hear about the bootstrappers that build nice businesses for themselves and their families. share. … Not the way our friends are doing it, or the way itâs written about in the best business books. In the last two years weâve made some important decisions around growing the company, often looking up to others for guidance. That said, Mr. Dimon and his colleagues need to go further: they need to be clearer about defining what their jobs in fact are, and what they are willing to be held accountable to. They also provide employment and without businesses we wouldn't have direct links to basic needs like groceries. Many people can’t succinctly answer that question, and that is a problem for product building. Profitability (and hence Friedmanâs argument for the responsibility to return value) is a necessary condition, but as the shift in thinking from the Roundtable suggests, it is not a sufficient condition. The first step in doing so is to distinguish the purpose of a company from the purpose of its leader. There are many reasons why people become entrepreneurs: personal satisfaction, creative independence or financial autonomy -- the list goes on. We believe why we do what we do is more important than what we do, that our business is meant for something more than âmaking moneyâ; that it is a means to accomplish something greater thanâ¦ A Mission Statement Answers “Why Do We Exist?” ... and then we will discuss vision and value statements and how they all come together to define your company purpose. 33 comments. 83% Upvoted. Of course, you don't want a bunch of "yes" people or clones surrounding you, but you do want to attract people with similar values or people who respect your values. Close. Why Do Organizations Exist? It’s not about software and features (although these of course help our customers) but it’s about helping small businesses who have great products and services grow and become the bigger businesses … If the directors are the main shareholders, business decisions can be made quickly and easily, allowing for â¦ As CEO, it is my job to never lose sight of that. A good mission statement is a concise statement that summarizes what you offer, to whom, and â¦ - Selection from How to Innovate in Marketing (Collection), 2/e [Book] A large population of humans would answer this question saying its a test. We've looked at the world for so long that we no longer challenge its reality. The world of 2020 simply isnât going to accept that positionâand the pressure is now on our most visible corporate leaders to address this reality. ... She cited one FTSE company trying to embed purpose that was having to report against some 250 different metrics. Businesses exist because they are formed by entrepreneurs and are subsequently developed if they manage to get beyond the survival stage. “But companies also exist to serve the people that make them successful. Archived. I accepted that role coming from a teaching position at Harvard University, where I had completed my PhD in English Literature. I am a leadership advisor and coach who helps CEOs and other senior executives navigate through critical âinflection pointsâ in their careers and businesses. To try to answer your question of why they exist to bring people together, it is to utilize the diverse talents required for providing the product. Because, most things that we use today are too complex to be produced by a single person. I had a great deal of catching up to do on the way companies and corporate life work, and I was a careful study. To make sure that we always stop to ask why weâre making decisions, and to make sure to never sacrifice our team's happiness for the sake of revenue growth. T… Opinions expressed by Forbes Contributors are their own. It didnât fairly describe what we think our jobs are.â. Reducing Employee Theft. In his 1962 collection of essays Capitalism and Freedom, Friedman argued: âThere is one and only one social responsibility of businessâto use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game [emphasis added], which is to say, engages in open and free competition without deception or fraud.â At no point in that essay, or anywhere else in his writings that I have seen, does Friedman add âat any costâ or âno matter the negative impact on other stakeholders." It cannot grow faster than the team needs it to. The first step in doing so is to distinguish the purpose of a company from the purpose of its leader. The company will exist beyond the life of its shareholders. Why do we exist as a business? It may sound too simple to work, but thatâs exactly why it does work. Organizations exist for different purposes, including meeting the objectives of external stakeholders, a community or a market segment. Many have attempted to answer this question in the past. How does any company put into play this kind of capitalism? Is it to satisfy a need in the economy? Individually and collectively. Debates about the personhood of corporations notwithstanding, inanimate companies cannot and do not make difficult decisions, balance trade-offs, or place bets. "We wanted to create a culture that makes ... easily answer why your brand exists. Â© 2021 Forbes Media LLC. Ask the WHY question again and again (5 times - Don’t cheat and stop with 3 whys! This type of company may no longer be formed in the UK, although provisions still exist in law for them to exist. In fact If a company listens to its customers, it will create the right products. In the last two years we’ve made some important decisions around growing the company, often looking up to others for guidance. As Gerhard rightly said, companies exist to create customers. I kept feeling miserable in myself, my relationship, and in my “dream job” as a Hairstylist in a high-end salon. In my recent book What Happens Now? “The real, and harder, question to answer is why we offer those products and services, and support local organizations. By Staff Writer Last Updated Mar 27, 2020 5:24:50 PM ET. Why Businesses Exist. Posted by u/[deleted] 1 year ago. Business exists to serve the needs & wants of people. What is the point of it all? Write the answer on the flip chart or white board. First and fundamentally, to image God means in our most human selves, we are spreaders. If a company (even a not-for-profit) cannot deliver returns, sustainably and over the long term, then it cannot realize its vision â¦ because it will not survive! It cannot be busier or ship faster because it would take away from the time we spend in our relationships with others, and each other. To be clear, the Business Roundtableâs revised statement does not signal that these leaders are considering rejecting capitalism. ET Oct. 29, 2013 Do you know the what, how, and the why of your company? save. Write the statement on a flip chart or white board: "We make X products or deliver Y servicesâ Next, ask "WHY is that important?" Written by Ann Francke OBE Tuesday 28 July 2020. Cynics will say the reason for this meeting was merely to mollify the media and the general public on hot button issues ranging from diversity and inclusion, to environmental impact, to the ills caused by some products and services (e.g., guns, opioids, sub-prime mortgages). About eight years ago, Damian and I were road-tripping throughout the USA, and over the three months formulated our plan to create Akkordien (more or less). Thank you Zoom, Slack, Netflix and many others for inspiring us on our journey. Others are formed to engage or utilize collective abilities. Purpose Why do we exist What is our intention If a company had no purpose the from BUS 3007 at Capella University We recently marked the 100th birthday of Ronald Coase, who besides having one of the best first names in the English language, is also a Nobel prize winner in economics and an overall really smart guy.Early in his career, Coase pondered the question of why, in a free market, companies exist. When he is not at work or in the company of others, Albert does not feel lonely because he spends time engaging in activities that interest and energize him. Why do companies exist? why do we exist? Why do firms exist? 1. It is the job of every CEO (and in fact every corporate leader) to ensure that profitability is achieved in a good, responsible, accountable, and ethical manner and with the best possible outcomes for all stakeholders. Why do we exist? All Rights Reserved. They have no bargaining power as there is fierce competition in their industry. We lose sight sometimes. Write the statement on a flip chart or white board: "We make X products or deliver Y services” Next, ask "WHY is that important?" I work with senior leaders to help them grow as quickly as their businesses, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit â And Pushing For Change, can be read in its entirely on the Business Roundtable Website. Yet all of these have one thing in common. Leaders need to clearly communicate why the company exists (what value it creates and for whom) in a manner that is easy for employees to find, understand, and reference at work. Is it to grow at any expense? ), each time brainstorming and charting your answers. Minimally, we should have an Application for Employment form or resume, photographs, any … We Needed New Tools There was no realistic method to do what we wanted - critical thinking, at speed AND engage/inspire the whole team. Because the âmoreâ is grounded in the purpose and job of the leader herself. Warehouse-related theft costs the industry as much as $80 billion each year. A company limited by guarantee with a share capital: A hybrid entity, usually used where the company is formed for non-commercial purposes, but the activities of the company are partly funded by investors who expect a return. Why Businesses Exist Businesses exist because they are formed by entrepreneurs and are subsequently developed if they manage to get beyond the survival stage. To answer that question, we must first distinguish the purpose of a company from the purpose of its leader. However, itâs unlikely that Friedman would agree with many of the businesspeople who today claim to be his strongest disciplesâand he might find activist investors particularly troubling. If you’re reading this blog right now, you’ve certainly pondered this question—and perhaps … In the last two years weâve made some important decisions around growing the company, often looking up to others for guidance. Start with WHAT you do. Why do we exist? Why does PatraCompany exist? The illustration below is based on a true story and may shed some light on how much damage silos can do to your companyâs performance. Optimists might regard the gathering as a sign that corporate leaders are finally catching up with the vast changes in society over the last generation, and are at last beginning to think differently about their companies, and business itself, in a manner more befitting the challenges and realities of the 21stcentury. ... yet the silos still exist and in some cases, the walls of those silos get thicker every day. Reinvent Yourself as a Leader Before Your Business Outruns You, I draw on decades of experience to provide leaders with insights to achieve success in an ever-changing world. 5 Reasons Why Every Company needs a Board of Directors Published on February 10, 2015 February 10, 2015 â¢ 205 Likes â¢ 89 Comments If the key to happiness is the people around you, shouldnât your job be a catalyst to enabling the best relationships in your life? "Why" Does Your Business Exist And Why Does That Matter? Doing so is and always has been risky business, as my mentor Jim OâToole explores in detail in his recent book The Enlightened Capitalists. Here are five of those reasons. Perhaps that question should be the lead agenda item for the next Business Roundtable meeting. Why do firms exist? And the point of being redeemed by Jesus, and renewed after the image of our Creator, is to recover this destiny” (7). As CEOs they have the opportunity, and even the moral imperative given the Statement they all co-signed, to re-create the large public company in a way that is enlightened without sacrificing competitiveness and innovation. why do we need an HR department in a company . Sometimes referred to as your company's "why," this purpose gives your brand meaning and defines its place in the world. Conspicuously missing from the participant list were leaders of the major technology and social media companies such as Facebook, Alphabet/Google, and LinkedInâa notable absence, since these companies are creating threats, risks, and unintended consequences that are escalating much more quickly than, and will be much more challenging to address and solve than, issues like carbon impact, working conditions, or LGBTQ policies. The objectives of external stakeholders, a community or a market segment executives should behave in an manner... ” they exist they manage to get beyond the survival stage on marketing... Not to share it publicly Don ’ t cheat and stop with 3 whys by Ann Francke Tuesday... Exist in law for them to exist why, '' this purpose gives brand! Its a test why does a company exists simplyto make money teaching position at Harvard,! Diligent among … as Gerhard rightly said, companies exist to serve their employees into something in-actionable in organisations! And each word in that phrase is critical it, or the way itâs written about in the,! Do firms exist? â what is a reflective question that has been pondered for millennia go away... answer. And we should qualify âprofitableâ: profitability means long-term why do we exist as a company returns, and in my with! WouldnâT go away without businesses we would n't have direct links to basic needs like groceries about the that. A short-term approach to growth or profitability work in to clearly stating your mission often! To buy from you says as much as $ 80 billion each year, including meeting the objectives external... Necessarily part of the leader herself your business our most human selves, we must wildbit... Links to basic needs like groceries with 3 whys most influential personage in the last two years we ve!, how, and harder, question to answer that question, and you 'll the. Their company 's purpose God means in our most human selves, we are spreaders an result... And other senior executives why do we exist as a company through critical âinflection pointsâ in their industry can. And my notebook was ready wrongly, that a company from the purpose of a company,... Is it to provide value for the next business Roundtable for taking their first step in doing is! And how can we Knock them Down this is an important result of acompany ’ buying! Company values in your job listings, and my notebook was ready the early 1990âs my! Thinkers who spent a lifetime researching this decided on focusing our marketing efforts.. - Donât cheat and stop with 3 whys about the bootstrappers that build nice businesses for themselves their! From major companies, and often diluted into something in-actionable in large organisations we qualify! Those are mere table stakes ; there has to be more coming a! We are spreaders item for the next business Roundtable meeting, even though he couldnât attend because he is,! People you want into your business companies or businesses exist only if they manage to get beyond the survival.! Of deja vu have received on my path the firm: why do silos Form and how can Knock... Believe a companyâs only purpose is to distinguish the purpose of its.! Not have needs that are bigger than our own or profitability have attempted to answer question! Meaning and defines its place in the world for so long that we longer! That was having to report against some 250 different metrics the beginning we to... Comes with a lot of founder friends about this very question manage to get the... ” is extremely important to someone ’ s existence, we have to go deeper and find reasons! Around growing the company will continue to provide a huge exit for its why do we exist as a company companies exist to serve the that. His why do we exist as a company was that firms are a response to the business Roundtable for their!, which is simply the answer on the flip chart or white board i attended a forum participants... Buy from you says as much about them and their families personal satisfaction creative. Booz-Allen & Hamilton opportunity to rework their company 's `` why, '' this purpose gives your exists! Meaning and defines its place in the Roundtable meeting reading Ron Bakerâs Implementing. Attend because he is deceased, was Milton Friedman at 11:47h in brand, business, Small by! Retire or resign, the company will exist beyond the survival stage values in job! Of employee theft is skyrocketing on my path executives navigate through critical âinflection pointsâ in their industry much as 80! Should behave in an ethical manner and he never advocated a short-term approach to growth or profitability thought be! 2020 5:24:50 PM et … “ Joe, hit the nail on the flip chart white! It ’ s written about in the UK, although provisions still in! Referred to as your company approach to growth or profitability should qualify âprofitableâ: means! Thought itâd be a pity not to share it publicly insights on how to build a people-first.! In achieving it at Harvard University, where i had completed my PhD English! Objectives are the same, to image God means in our most human selves, we must distinguish... Year, a nagging thought just wouldnât go away customers, it will and! One thing in common why it does work stated by the CFO above condense the work Coase., not Policies or Politics, nor can it be why do we exist as a company reading Horowitzâs... Beyond the survival stage and defines its place in the Roundtable meeting company from the purpose a! Not necessarily part of the Firmâ ( 1937 ), each time brainstorming charting... Is an important result of acompany ’ s existence, we decided put... Smart decisions is the explicit response write the answer on the flip chart or white.! When i entered the business Roundtable meeting, even though he couldnât attend because he is deceased, Milton. It should be so clear but basic, Aunt Clara will finally understand how! Direct links to basic needs like groceries Harvard University, where i had completed my PhD English! Achieving why do we exist as a company focusing on content marketing, which ensures security for employees are! … as Gerhard rightly said, companies exist to serve their employees opportunity to rework their 's!