WEBVTT 1 00:00:01.000 --> 00:00:02.420 This will be our last month 2 00:00:02.420 --> 00:00:04.330 of the Two Minutes on Tuesday series, 3 00:00:04.330 --> 00:00:06.970 and I thought I'd invoke some executive privilege 4 00:00:06.970 --> 00:00:10.010 and do these final four segments myself. 5 00:00:10.010 --> 00:00:12.760 Each week, I'll share a video in which I talk 6 00:00:12.760 --> 00:00:15.420 about a theme that's been central to my thinking 7 00:00:15.420 --> 00:00:18.800 as I wind up my tenure as BCG's CEO. 8 00:00:18.800 --> 00:00:20.470 Because these are some of the topics 9 00:00:20.470 --> 00:00:22.140 I'm the most passionate about, 10 00:00:22.140 --> 00:00:25.800 I may very well break my own rule with a few of these videos 11 00:00:25.800 --> 00:00:27.950 and go slightly over the two minutes. 12 00:00:27.950 --> 00:00:29.900 I hope you'll understand. 13 00:00:29.900 --> 00:00:32.270 Today, I want to talk about purpose. 14 00:00:32.270 --> 00:00:35.540 The idea that corporations should have a purpose 15 00:00:35.540 --> 00:00:37.860 beyond delivering value to shareholders 16 00:00:37.860 --> 00:00:40.640 was not something widely talked about ten years ago, 17 00:00:40.640 --> 00:00:42.550 or even five years ago. 18 00:00:42.550 --> 00:00:45.950 Now it's central to so many of the conversations I have 19 00:00:45.950 --> 00:00:48.690 with other business leaders, how to engage 20 00:00:48.690 --> 00:00:50.600 and energize our organizations, 21 00:00:50.600 --> 00:00:53.270 and how we think about our legacies. 22 00:00:53.270 --> 00:00:56.460 At a time of so much societal, environmental, 23 00:00:56.460 --> 00:00:59.670 health, geopolitical, and economic stress, 24 00:00:59.670 --> 00:01:01.590 we know that companies 25 00:01:01.590 --> 00:01:06.160 and company leaders are judged sharply by how they behave, 26 00:01:06.160 --> 00:01:08.150 how they manage the continuing fallout 27 00:01:08.150 --> 00:01:11.030 from COVID-19, for example, or their commitment 28 00:01:11.030 --> 00:01:13.910 to addressing longstanding racial inequities, 29 00:01:13.910 --> 00:01:17.760 or the urgency with which they tackle climate change. 30 00:01:17.760 --> 00:01:21.200 More than five years ago, we started two major workstreams 31 00:01:21.200 --> 00:01:24.460 at BCG, mapping out our firm-wide strategy 32 00:01:24.460 --> 00:01:27.080 for the coming years, and then following that, 33 00:01:27.080 --> 00:01:29.760 excavating and articulating our purpose, 34 00:01:29.760 --> 00:01:33.430 leveraging the unique skills of BCG BrightHouse. 35 00:01:33.430 --> 00:01:35.690 The strategy work was incredibly powerful 36 00:01:35.690 --> 00:01:38.600 and core to our actions for two to three years, 37 00:01:38.600 --> 00:01:41.690 but then, as the world changed and BCG changed, 38 00:01:41.690 --> 00:01:44.410 that strategy needed to evolve. 39 00:01:44.410 --> 00:01:47.330 On the other hand, the purpose work has stood the test 40 00:01:47.330 --> 00:01:49.800 of time and become even more relevant 41 00:01:49.800 --> 00:01:52.683 as the world has changed and become more challenging. 42 00:01:53.600 --> 00:01:55.860 Our purpose is captured simply: 43 00:01:55.860 --> 00:01:58.820 unlocking the potential of those who advance the world, 44 00:01:58.820 --> 00:02:01.460 And it's supported by five pillars: 45 00:02:01.460 --> 00:02:05.030 bring insight to light; drive inspired impact; 46 00:02:05.030 --> 00:02:08.210 conquer complexity; lead, with integrity; 47 00:02:08.210 --> 00:02:10.610 and grow by growing others. 48 00:02:10.610 --> 00:02:12.560 These 25 words, 49 00:02:12.560 --> 00:02:15.600 our purpose and the principles that underpin it, 50 00:02:15.600 --> 00:02:18.810 represent our essence, why we exist, 51 00:02:18.810 --> 00:02:22.090 and how we contribute differentially to the world. 52 00:02:22.090 --> 00:02:25.570 When companies put in the effort to understand, articulate, 53 00:02:25.570 --> 00:02:27.530 and bring their purpose to life, 54 00:02:27.530 --> 00:02:29.870 they can help focus, align, and encourage 55 00:02:29.870 --> 00:02:32.860 and lift all members of an organization 56 00:02:32.860 --> 00:02:35.350 and have a positive impact on the world, 57 00:02:35.350 --> 00:02:37.603 delivering sustained value to all. 58 00:02:38.610 --> 00:02:40.960 Thank you for joining me and see you next week.