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Do you know why your company exists, it's raison d'etre? Can you provide a clear and succinct response to the question, or does the question leave you somewhat flummoxed? When I ask the question of others (it's usually the first thing I ask when leading a strategy development workshop), the most common response is a description of what the company does. But this does not answer the question! 
Most people (especially your staff, customers and suppliers) don't care what your company does, they want to know why. You need to be able to tell the story. This article, published by Harvard Business Review sums it up nicely. Here are some questions for your board to consider:
  • Does your company have a single, clearly-stated purpose?
  • Is the purpose consistent with the wishes of shareholders?
  • Is your company's strategy demonstrably linked to achieving the agreed purpose?
  • Has the purpose been communicated throughout the company?
  • Do people (the board, management, staff) buy in to it?
 Directors need to get their collective heads around these questions. It's a matter of leadership, and of accountability. Let me know if you need any assistance with this, I'd be delighted to help.