You know how motivating it is when you’re on a mission. Everyone needs that – they thrive when they’re doing something that they believe in. All companies need to make money, but what else about your company matters? Do you know? Do you have a sense of it, but can’t put your finger on it? Or have you lost your way, hoping to stumble back onto the road? Do you need a Big-Hairy-Ambitious-Goal?
The work above is an example of a company that owns a Big-Hairy-Ambitious-Goal. Tiger Airlines have grown their market share by some remarkable numbers. Tiger Airlines (named after the regional ‘tiger economy’ phenomenon in South East Asia) is driven by three interdependent components:
- Building a name and organisation that truly makes a difference in the marketplace.
- Become a leader of great environmental purpose; and
- Bring your BHAG to life so that your constituents know exactly what you stand for.
What makes one company thrive while others languish in mediocrity? There’s no doubt hard work involved, but owning a BHAG shows companies and organisations can exude a genuine and truly distinctive sense of purpose. The effect? A good BHAG will neutralise the competition, click with customers, inspire and guide employees, and reshape the sense of what’s possible in the marketplace.
‘It’s not the category you work in, but the business model, the leadership, and the positioning that ultimately determine whether or not you will discover and live out your BHAG.’ Roy M Spence Jr, GSD&M Chairman and CEO, Author