FASHIONTRIBES DAILY 5 MIN PODCAST: How to Succeed in Business? Base It on a Philosophical Idea. FASHIONTRIBES FASHION PODCAST

When it comes to certain business principles, why re-invent the wheel? Instead, appropriate ideas that have stood the test of time…a few thousand years worth in one case.

A recently published book, Purpose: The Starting Point of Great Companies (Palgrave Macmillan - available at Amazon.com) penned by business consultant Nikos Mourkogiannis of Panthea, explains that philosophical ideas which have endured for a long span of time have done so for good reason – and smart businesses should use them to their advantage. "To build a business that lasts, one does well to draw on ideas that have lasted,” he advises. “Purpose in companies is most effective when it draws on moral ideas that have stood the test of time." The main argument of the book is that a business will be successful if it is organized around a purpose. "If you want to make it really big, it is important to remember what you stand for," Mourkogiannis told WWD. In his book, the author identifies four time-tested purposes, each associated with a giant in the field of philosophy:

1. the purpose of discovery: Soren Kierkegaard
2. the aim of excellence: Aristotle
3. the goal of altruism: David Hume
4. heroism: Friedrich Nietzsche

Of these four, three are applicable today - discovery, excellence & altruism – and the author identifies good corporate examples of each. "Their purposes and business models are very consistent," Mourkogiannis explains. "Their purposes are very well aligned with their strategy, systems, structure."

1. Excellence: Chanel, Charvet, Apple & The Economist. The moral basis: "I have freely chosen it."
2. Altruism: Zara, Nordstrom & The Body Shop. The moral basis: "It increases happiness."
3. Discovery: Topshop, Virgin & Sony. The moral basis: "It constitutes fulfillment."

While both Zara and Topshop specialize in fast food fashion where what’s on offer changes frequently, Zara differs from Topshop by delivering the trends (altruism) with their famed two-week turnaround from design table to finished goods on the sales floor. Topshop on the other hand creates trends (discovery) by serving up 7,000 looks per season.

A company with less than top marks is Wal-Mart, which the author believes is getting simply too gigantic to properly express its altruistic purpose. "It is difficult to create a sense of altruistic community when you are so big," he explains, a far cry from the days when founder Sam Walton was on a mission to bring good deals to the masses. "For Walton, growing up in the relatively impoverished region of rural Arkansas, that meant helping as many people as possible raise their standard of living; giving them material goods in a homogenized but comforting atmosphere." These days, their customer base is simply too large to be nice to each and every one. Instead, Mourkogiannis believes they would do well to change their purpose to discovery by adding more fashion along the lines of their “George M.E.” line by fashion designer Mark Eisen, higher priced goods, more eco-friendliness in packaging and use of renewable energy, and locating in less remote locations. But at what cost? An estimated five years and $100 million ("To do it with any less commitment," he added, "will result in complete confusion.").

The lesson? Pick your purpose with caution.

• For the Fashiontribes Daily 5 Minute Podcast about this, visit PodcasterNews.com.

- Lesley Scott

fashiontribes.