With the popularization of Simon Sinek's "Start with Why", the purpose-driven life and organization seem to have ingrained themselves into business conversations. But how, precisely, do you do that...and still make money?
Robert E. Quinn and Anjan V. Thakor, in their book, "The Economics of Higher Purpose: Eight Counterintuitive Steps for Creating a Purpose-Driven Organization" explain why purpose-driven organizations have failed to gain traction and the evidence that they can and do make money as well (if not more!).
One author is a management professor and the other is a finance professor, so I got a crash course on business economics and of a higher purpose:
- The foundation of business economics starts with a "conventional mindset" where "principals (bosses) and agents (employees) engage in conventional relationships of transactional exchange: for this amount of money, we agree that you will do this amount of work."
- The foundation of a higher purpose is a "social system in which the greater good has been envisioned, articulated, and authenticated....[It is] the arbiter of all decisions, and people find meaning in their work and in their relationships despite the conflicts. They share a vision and are fully engaged. They strive to transcend their egos and sacrifice for the common good."
The authors, rather than believing these two theories are mutually exclusive, set about to find where they intersected...and go from there.
Ironically enough, Part I is about the why we should consider be a Purpose-driven Organization - and the dangers of faking it e.g. making it a PR campaign vs. the way to do business.
Part II is the 8-step method, which frankly, isn't THAT counterintuitive, but definitely requires some intentional thought and actions. The steps seem simple enough, but will probably be hard (not easy!) to do.
I have three clients who consider themselves to be purpose-driven organizations (or on the path toward calling themselves such). I am suggesting they read this book and confirm what they are doing well - and then have a frank and authentic discussion about what they are NOT doing yet SHOULD be doing and/or what they can do differently based on the various steps.
One final thing: You don't have to be the CEO to read this book and implement these ideas. You can use this book an in individual, team, business unit or enterprise level. Good luck!
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The Economics of Higher Purpose: Eight Counterintuitive Steps for Creating a Purpose-Driven Organization Audio CD – Unabridged, Aug. 20 2019
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What does a lofty notion like purpose have to do with business basics like the bottom line? Robert E. Quinn and Anjan V. Thakor say pretty much everything. Leaders and managers are taught that employees are self-interested and work resistant, so they create systems of control to combat these expectations. Workers resent these systems, and performance suffers. To address the performance issues, managers double down on the coercion, creating a vicious cycle and a self-fulfilling prophecy. But there is a better way. Quinn and Thakor show that when an authentic higher purpose permeates business strategy and decision-making, the cycle is broken. Employers and employees see themselves as working together toward an inspiring goal, not just trying to hit quarterly targets. They fully engage, become proactive contributors, and, ironically, easily exceed those quarterly targets. Based on their widely acclaimed Harvard Business Review article, Quinn and Thakor offer eight sometimes surprising steps for shifting from a transaction-oriented mindset focused on constraints to a purpose-oriented mindset focused on possibility. This iconoclastic audiobook will help any organization discover its authentic purpose and weave it into the fabric of everything it does, leading to unprecedented levels of personal satisfaction, service and product innovation, and economic growth.
- LanguageEnglish
- PublisherDreamscape Media
- Publication dateAug. 20 2019
- Reading age18 years and up
- Dimensions15.34 x 2.87 x 12.8 cm
- ISBN-101974963373
- ISBN-13978-1974963379
Product details
- Publisher : Dreamscape Media; Unabridged edition (Aug. 20 2019)
- Language : English
- ISBN-10 : 1974963373
- ISBN-13 : 978-1974963379
- Item weight : 136 g
- Dimensions : 15.34 x 2.87 x 12.8 cm
- Customer Reviews:
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Robert E. Quinn is chair of the Department of Organizational Behavior and Human Resource Management at the University of Michigan School of Business. He is coauthor of Becoming a Master Manager (1990).
Customer reviews
4.4 out of 5 stars
4.4 out of 5
27 global ratings
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Top reviews from other countries

Jerald L. Duff
5.0 out of 5 stars
Quinn Has Done it Again
Reviewed in the United States 🇺🇸 on October 21, 2019Verified Purchase
Following his seminal book, Deep Change, Robert Quinn writes the lessons that I have learned in three decades of consulting. I am currently using this book with 17 pastors who need to make deep changes or face the the inevitable slow death. A deep read that asks the right questions.

Llema1
5.0 out of 5 stars
Great book - pair it with Deep Change!
Reviewed in the United States 🇺🇸 on July 16, 2020Verified Purchase
Deep Change and this book have given me an excellent framework both for my professional and personal lives. Robert Quinn is an absolute gem of a human and his teachings have given me so much.

jason kegerreis
3.0 out of 5 stars
Worthwhile Read
Reviewed in the United States 🇺🇸 on November 9, 2019Verified Purchase
Interesting read with an engaging argument. However, the book took more of a philosophical than economical approach. I liked the idea, but didn’t feel they really proved their argument quantitatively which is what I expected going in.
In short, if you want an interesting read, with a complexing argument, this is the book for you, but probably can’t walk it into a board room to prove the changes for which you are looking.
In short, if you want an interesting read, with a complexing argument, this is the book for you, but probably can’t walk it into a board room to prove the changes for which you are looking.

C A
1.0 out of 5 stars
Speculative
Reviewed in the United States 🇺🇸 on December 27, 2019Verified Purchase
A feel-good tome with much speculation. Disappointing -- hoped there would be more analysis and evidence-based argument, but it appeals to speculation. Couldn't finish this mess.