Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What are the differences between a company's core purpose and the company's goals or business strategies?

user-image
Question added by Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group
Date Posted: 2014/05/17
zafar abbas minhas
by zafar abbas minhas , Freelance Writer , DAILY MASHRAQ

brother hussain,, your question is about the qualitative & quantitative objectives,,, QUALITATIVE objects are designed just to fill the company profiles, book lets and to show others what this company is going to do,,,, QUANTITATIVE objectives are the real world of any company,, to reduce expenses and increase profits,,, every thing revolve around this idea,,,there is nothing match between the core values and real plans.

Muhammad Saey
by Muhammad Saey , Senior Veterinary Doctor , PAFN Public Autority for Food and Nutrition

The core purpose of the company is the main reason that company established for. It is seldome for the organization.The company strategy or goals are the frequent plan and target to achieve. This is changeable and advanceable for short term or long term.

Mohammad Tohamy Hussein Hussein
by Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group

In identifying purpose, some companies make the mistake of simply describing their current product lines or customer segments.

 

 

Purpose (which should last at least100 years) should not be confused with specific goals or business strategies (which should change many times in100 years). Whereas you might achieve a goal or complete a strategy, you cannot fulfill a purpose; it is like a guiding star on the horizon—forever pursued but never reached. Yet although purpose itself does not change, it does inspire change. The very fact that purpose can never be fully realized means that an organization can never stop stimulating change and progress.

Mohammed Asim Nehal
by Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

Very good question, A company may have some other core purpose whereas may set different goals to begin with and it happens, in fact this has happened with many company which after gestation period moved on with something else yet the core purpose of the company remained the same and its focus expanded with the ground realities. The company may have its core purpose to serve the nation in a better way but the goals will be to maximise the wealth, reputation and reach out to masses in commercial terms.

Mohammed Thiab
by Mohammed Thiab , Founder / Chief Consultant , MV Consulting

Keeping things simple ... 

 

To me the core purpose of a company is embedded in the mission statement because the mission statement supposedly gives the 'reason/justification for existence", the "purpose from starting this company", what it is committed to do, and what it is excellent at

 

The company's goals are something else and they are usually derived from the vision statement and where it wishes to be, and what it wants to achieve in long, medium and short terms.

 

Business strategies is a third and different topic as it concerns itself with HOW to achieve the company's goals and fulfill its mission (reason for existence)

 

 

 

 

Jose Miguel Lucas Martins
by Jose Miguel Lucas Martins , IT Director - Robotic Process Automation (RPA) , Novo Banco

Your core purpose (or your mission) is your statement as a company of your ideal self (how you would like to be).

 

Your strategic goals are your statement of your main target in order to become how you achieve your core purpose (how you will get there).

Salauddin Mohammad
by Salauddin Mohammad , Sr. Manager, Software Development , Aspen Technology Inc

Core Purpose of the company describes why you do business. This purpose is the reason you get out of bed every morning. It's something that will be with you in good times and in bad and help drive you like there is no tomorrow.

 

For example, our company (Aspentech's) Core purpose is "Optimizing Process engineering"; Similarly Disney's purpose is to bring happiness.

 

 

Whereas, Goals and Strategies drive a company's success. Goals give an indication of where a company is headed, while strategies indicate how the company is going to get there. Goals aligned with the company's mission, vision and values and strategies aligned with goals are important elements in the successful achievement of both.

Ahmed Fathy
by Ahmed Fathy , Business Development Director - MBA - PMP - EBRD International advisor , International Casting & Modern Industries

Company goals or business strategies is a tools to reach the main purpose

IRPHAN GHANI
by IRPHAN GHANI , Senior Management , A

Example:

Core purpose to have Best People is to attract the best talent, develop and retain to achieve Business Goal of the best customer service.