Aspiration and leadership

PurposeManagement needs an aspiration as to how the company will work in the future. It needs a guide for corporate priorities. Any company ‐ local or global ‐ must be driven by an aspiration that energizes and motivates the company from top to bottom. Yet very few managers and executives know how a corporate aspiration can help to bring about focus and direction, or how to develop or execute one. This article attempts to fill some of those gaps.Design/methodology/approachThe author has been systematically researching the question of what makes successful corporate aspirations tick. During March 2005‐January 2006, 51 (former) CEOs, presidents, chairmen, and managing directors of a diverse array of global companies were interviewed. The executives represented a wide diversity of nationalities and industries.FindingsThe article finds that, first of all, a shared corporate aspiration can help unite a large, scattered workforce. An effective corporate aspiration sets the stage for the values and norms that drive most excellent companies. Second, there is no single right way to develop and execute corporate aspirations. They are not all things to all people. Since cultures, market segments and competitors change constantly, so too do winning corporate aspirations. Third, corporate aspirations require effective execution, and, therefore, leadership. The challenge is to move from the rhetoric of aspiration to the reality of action. Fourth, the formulation of an effective corporate aspiration is a recurring senior executive challenge that entails careful timing and analysis, close interaction with employees and other stakeholders, and a certain amount of experimentation. Last, but not least, companies with serious problems should focus on solving their problems before embarking on a time‐consuming corporate aspiration‐setting exercise. However, once the house is in order, aspiration‐setting is the greatest possible lever for increasing shareholder and stakeholder value.Originality/valueA corporate aspiration is key to the continuity and organizational morale of the company. It helps create economic and cultural value necessary for continuity and focuses the energy of the employees in the organization. Therefore, it is important to know how to develop, execute and realize a corporate aspiration. Management needs an aspiration as to how the company will work in the future. It needs a guide for corporate priorities. A corporate aspiration is key to the continuity and organizational morale of the company. It helps create economic and cultural value necessary for continuity and focuses the energy of the employees in the organization. Any company ‐ local or global ‐ must be driven by an aspiration that energizes and motivates the company from top to bottom. Yet very few managers and executives know how a corporate aspiration can help to bring about focus and direction, or how to develop or execute one. This article attempts to fill some of those gaps.