Organisations today are dealing with rapid changes and complex challenges. To survive and excel in a volatile business context, it has been argued that organisations need to adopt a more purpose-driven approach in doing business that transcends making money. In the past decade, an increasing interest has emerged in the topic of purpose by both academics and practitioners. Many business books and articles have been published to help companies on their way to become purpose-driven organisations. The notion of purpose has become so widespread that a lot of companies invested in articulating a purpose in order to engage stakeholders. Creating and establishing a strong and shared corporate purpose, however, can be a complex process. In this whitepaper, we aim to provide a clear understanding of what purpose is and why it matters. Based on the research available, we will reflect on how a strong and shared purpose can be established by organisations.