Take Ikea for example. Its purpose is more than just selling furniture – this is something every furniture company does – Ikea is about “creating a better everyday life for the many people”. And their business idea supports this purpose with a wide range of functional, well-designed products that are affordable by as many people as possible.
Sometimes outlined as part of the company’s mission or vision, purpose gives the reason a company is in business and what motivates it to do what it does, beyond making money.