What do a Danish shipping company and a premium pet food provider have in common? They elevated their corporate purpose and have what we call advocacy-based business models, which are succeeding as they focus on targeted stakeholders.
AP Moller-Maersk and Royal Canin (part of Mars, Inc.) are two of the 12 companies that we studied as they were implementing new organizational orientations centered on purpose. We found four things that successful companies do well as they navigate these very different industries. Ask yourself if your company exhibits any of the following four traits.