Publications
Publications
- July 2024
- HBS Case Collection
Living up to Purpose and Performance at Parker Hannifin
By: Hubert Joly, Alicia Dadlani and Martha Hostetter
Abstract
In 2019, Parker Hannifin, one of the world’s largest manufacturers of motion and control technologies, did something unusual for an industrial company: it created a purpose statement. Even though it already had a clear business strategy and longstanding culture of empowering its employees, creating a nine-word purpose statement proved transformational. This was particularly true during the pandemic, when Parker’s purpose—Enabling Engineering Breakthroughs that Lead to a Better Tomorrow—came to life as team members built parts for lifesaving ventilators and designed a filtration system that enabled the mass-production of vaccines. Now Parker’s new CEO must determine how to bring Parker’s purpose fully to life, using it to inspire team members, connect with customers, and guide the company as it navigates clean energy technologies and other challenges.
Keywords
Mission and Purpose; Health Pandemics; Leadership; Business or Company Management; Organizational Culture; Business Strategy; Communication Strategy; Manufacturing Industry; Industrial Products Industry; Cleveland; Ohio; United States
Citation
Joly, Hubert, Alicia Dadlani, and Martha Hostetter. "Living up to Purpose and Performance at Parker Hannifin." Harvard Business School Case 525-015, July 2024.