Rick Warren, Jim Collins and others have made the case quite successfully, based on book sales alone, that a purpose in life and business is essential to achieve true success. Of course, that success goes beyond corporate profits or personal riches, although there certainly is nothing to suggest that they are mutually exclusive.
"If you build a business solely to make money, that is a recipe for failure," John Moore, a marketing consultant who has worked at Starbucks and Whole Foods, told the Austin American-Statesman.
Mr. Moore cited Linens 'n Things and Circuit City as two companies that operated without a purpose beyond the balance sheet right up until they closed all their stores and liquidated inventory.
Whole Foods CEO John Mackey is among the most well known proponents of purpose-driven business.
Mr. Mackey, according to the American-Statesman, told a college commencement audience, "Just like individual people by following their hearts can discover their own deeper sense of purpose, so can the business enterprise."
Julie Irwin, a professor at the University of Texas, said the purpose Mr. Mackey speaks about is simply market positioning.
"Having purpose is just a sharpening mechanism for helping you figure out what you do and don't do," she said.
Not everyone believes that having a purpose is a guarantee of success nor is an apparent lack of purpose a sign of imminent failure. Tim Calkins, a marketing professor at Northwestern University, told the American-Statesman that Starbucks and Dunkin' Donuts provide a case in point.
Starbucks, he said, clearly has a purpose but is struggling while Dunkin' Donuts is about selling donuts and coffee and it is doing that quite well despite the recession.
"For some companies, (purpose) is very powerful and can help them as a way to compete," Prof. Calkins said. "For other companies, it's less about how they compete in the market and more about how they motivate employees internally."
Discussion Questions: Is a purpose-driven company more likely to succeed than one whose purpose doesn't go beyond the balance sheet? Which company in retailing do you think is the most successful purpose-driven company and why?