Finding Purpose in Business: Insights from Viktor Frankl’s ‘Man’s Search for Meaning’

In the realm of business and entrepreneurship, success is often measured by profit margins, market share, and growth rates. However, true fulfilment and long-term success in business, as in life, stem from a deeper well—a sense of purpose and meaning. Viktor Frankl’s seminal work, “Man’s Search for Meaning,” though not explicitly written for the business world, offers profound insights that can transform how entrepreneurs and business leaders approach their ventures and lead their teams.

This article delves into the key teachings of Frankl’s book and explores how they can be applied to the business world, helping entrepreneurs and business leaders find greater purpose, resilience, and success in their endeavours.

Who is Viktor Frankl?

Before diving into the book’s insights, it’s crucial to understand the author’s background. Viktor E. Frankl (1905–1997) was an Austrian neurologist, psychiatrist, and Holocaust survivor. His experiences in Nazi concentration camps, including Auschwitz, formed the basis for his psychological approach known as logotherapy, which focuses on the search for life’s meaning as the primary motivational force in humans.

Frankl’s unique perspective, combining his professional expertise with his harrowing personal experiences, lends incredible weight to his observations about human nature, resilience, and the pursuit of meaning, all of which have significant implications for the business world.

Overview of “Man’s Search for Meaning”

Published in 1946, “Man’s Search for Meaning” is divided into two parts. The first part recounts Frankl’s experiences in the concentration camps, while the second part outlines his psychotherapeutic method, logotherapy. Throughout the book, Frankl explores how finding meaning in all forms of existence, even the most brutal ones, can sustain a person’s will to live and offer the strength to endure unimaginable suffering.

While the context of the book is far removed from the typical business environment, the universal truths it uncovers about human nature and motivation are incredibly relevant to modern leadership and entrepreneurship.

Key insights for businesses and entrepreneurs

Let’s explore the main takeaways from Frankl’s work and how they can be applied in a business context:

1. The Primacy of Purpose

Frankl’s central thesis is that the primary drive in human beings is not pleasure (as Freud believed) or power (as Adler proposed), but the pursuit of meaning. He observed that those who had a reason to live—a purpose that transcended their immediate suffering—were more likely to survive the horrors of the concentration camps.

Application for Business: In the business world, this translates to the importance of having a clear, compelling purpose that goes beyond profit. Companies and entrepreneurs who define and pursue a meaningful mission are more likely to:

• Attract and retain top talent.
• Build customer loyalty.
• Navigate challenges and setbacks.
• Innovate and adapt to changing market conditions.
• Achieve long-term success and sustainability.

Consider companies like Patagonia, whose commitment to environmental sustainability drives their business decisions, or TOMS Shoes, whose one-for-one giving model embeds social responsibility into their core business. These purpose-driven approaches not only contribute to their business success but also create a sense of meaning for employees and customers alike.

Action Steps for Entrepreneurs:

1. Define your company’s purpose beyond profit. What positive impact do you want to make in the world?
2. Communicate this purpose clearly to your team, customers, and stakeholders.
3. Align your business strategies and decisions with this overarching purpose.
4. Regularly revisit and refine your purpose as your business evolves.

2. The Power of Attitude

One of Frankl’s most powerful observations is that while we cannot always control our circumstances, we always have the freedom to choose our attitude towards those circumstances. He writes, “Everything can be taken from a man but one thing: the last of the human freedoms—to choose one’s attitude in any given set of circumstances, to choose one’s own way.”

Application for Business: This insight is particularly relevant in the unpredictable world of business, where market conditions, competition, and unforeseen challenges can derail even the best-laid plans. Entrepreneurs and business leaders who cultivate a positive, adaptable attitude are better equipped to:

• Turn setbacks into opportunities.
• Maintain team morale during difficult times.
• Foster a culture of resilience and innovation.
• Make clear-headed decisions under pressure.
• Inspire confidence in stakeholders, even in uncertain circumstances.

Action Steps for Entrepreneurs:

1. Practice mindfulness to become more aware of your reactions to challenges.
2. Develop the habit of framing setbacks as opportunities for growth and learning.
3. Encourage open discussion of failures and mistakes in your team, focussing on lessons learnt.
4. Model a positive, solution-focused attitude for your team.
5. Invest in personal development and stress management techniques for yourself and your employees.

3. The Importance of Meaning in Work

Frankl observed that finding meaning in one’s work—even in the most degrading conditions of the concentration camps—could be a source of strength and survival. He recounts how he and fellow prisoners would often find small ways to help others or create something of value, which gave them a sense of purpose.

Application for Business: In the business context, this underscores the importance of helping employees find meaning in their work. When people feel that their work contributes to a larger purpose, they are more likely to be:

• Engaged and motivated
• Productive and innovative
• Loyal to the company
• Resilient in the face of challenges
• Satisfied with their jobs

Companies like Google, with their “20% time” policy (allowing employees to spend 20% of their time on projects they’re passionate about), or Zappos, with their focus on delivering happiness through exceptional customer service, exemplify how fostering meaningful work can drive business success.

Action Steps for Entrepreneurs:

1. Help employees understand how their individual roles contribute to the company’s larger purpose.
2. Provide opportunities for personal growth and skill development.
3. Encourage employees to pursue projects they’re passionate about within the scope of their work.
4. Recognise and celebrate meaningful contributions, not just financial results.
5. Create opportunities for employees to engage in community service or social impact projects.

4. The Value of Human Connections

Throughout his ordeal, Frankl noted the crucial role that human connections played in survival. Whether it was the memory of loved ones, the camaraderie among prisoners, or small acts of kindness, these connections provided a source of strength and meaning.

Application for Business: In the business world, this translates to the importance of fostering strong relationships—within teams, with customers, and with the broader community. Companies that prioritise human connections tend to benefit from:

• Stronger team collaboration and innovation
• Higher employee retention and satisfaction
• Better customer loyalty and word-of-mouth marketing
• More effective partnerships and networking opportunities
• A positive reputation in the community

Companies like Salesforce, known for its “Ohana” culture emphasising family-like connections among employees, or Airbnb, which builds its brand around creating meaningful connections between hosts and guests, demonstrate how prioritising human connections can drive business success.

Action Steps for Entrepreneurs:

1. Foster a culture of openness, trust, and mutual support within your team.
2. Implement team-building activities that go beyond superficial interactions.
3. Encourage mentorship and knowledge-sharing programs within your organisation.
4. Prioritise customer relationships and community engagement in your business strategy.
5. Create opportunities for face-to-face interactions, even in increasingly digital environments.

5. The Role of Suffering in Growth

Frankl’s experiences led him to conclude that suffering, while not necessary for growth, can be a catalyst for profound personal development when approached with the right mindset. He writes, “When we are no longer able to change a situation, we are challenged to change ourselves.”

Application for Business: In the business context, this insight can be applied to how companies and entrepreneurs approach challenges, failures, and setbacks. Rather than viewing these as purely negative experiences, they can be seen as opportunities for:

• Innovation and creative problem-solving
• Building resilience and adaptability
• Identifying weaknesses and areas for improvement
• Developing stronger leadership skills
• Fostering a growth mindset within the organisation

Companies like Apple, which rebounded from near-bankruptcy in the late 1990s to become one of the world’s most valuable companies, or IBM, which has repeatedly reinvented itself over its long history, exemplify how embracing and learning from difficult periods can lead to tremendous growth and success.

Action Steps for Entrepreneurs:

1. Encourage a culture where failures are viewed as learning opportunities.
2. Implement regular “post-mortem” analyses after projects or campaigns, focussing on lessons learnt.
3. Develop contingency plans that not only mitigate risks but also identify potential opportunities in challenging situations.
4. Invest in training and development programs that build resilience and adaptability.
5. Share stories of overcoming challenges within your organisation to inspire and motivate your team.

6. The Danger of Existential Vacuum

Frankl introduced the concept of “existential vacuum,”  a state of emptiness and meaninglessness that can occur when people lack a sense of purpose. He observed that this state could lead to various mental health issues and destructive behaviours.

Application for Business: In the business world, this concept can be applied to understand and address issues of employee disengagement, burnout, and low morale. Companies that fail to provide a sense of purpose and meaning to their employees may face:

• High turnover rates
• Decreased productivity
• Lack of innovation and creativity
• Poor customer service
• Negative company culture

On the flip side, businesses that actively work to fill this “existential vacuum” by providing meaningful work and a strong sense of purpose often see:

• Higher employee engagement and satisfaction
• Increased productivity and innovation
• Better customer experiences
• Positive company culture and employer brand
• Improved long-term performance and sustainability

Companies like Unilever, with its Sustainable Living Plan that embeds purpose into every brand, or Microsoft under Satya Nadella’s leadership, which revitalised its culture around the mission of “empowering every person and organisation on the planet to achieve more,” demonstrate how addressing the need for meaning can transform business performance.

Action Steps for Entrepreneurs:

1. Regularly communicate your company’s vision and how each role contributes to it.
2. Provide opportunities for employees to connect their personal values to their work.
3. Offer career development paths that align with both company needs and individual aspirations.
4. Implement programs that allow employees to contribute to social or environmental causes they care about.
5. Encourage creativity and autonomy in how employees approach their work.

7. The Importance of Self-Transcendence

Frankl emphasised the concept of self-transcendence—the idea that true fulfilment comes from directing oneself towards something or someone outside oneself. He observed that those who were able to focus on a cause greater than themselves or on helping others were often better equipped to endure hardship.

Application for Business: In the business context, this principle can be applied to create a more fulfilling and effective work environment. Companies that encourage self-transcendence among their employees and in their overall mission often see:

• Increased employee engagement and job satisfaction
• Stronger team cohesion and collaboration
• More innovative and creative problem-solving
• Better customer relationships and service
• Improved corporate social responsibility outcomes

Companies like LEGO, which focusses on inspiring and developing children through creative play, or Tesla, with its mission to accelerate the world’s transition to sustainable energy, exemplify how a self-transcendent approach can drive both business success and positive societal impact.

Action Steps for Entrepreneurs:

1. Clearly articulate how your company’s work contributes to a larger cause or benefits society.
2. Create opportunities for employees to mentor others or share their knowledge.
3. Implement corporate social responsibility initiatives that align with your company’s strengths and values.
4. Encourage employees to set goals that benefit their team or the company as a whole, not just themselves.
5. Recognise and reward actions that exemplify self-transcendence and contribution to others.

8. The Power of Future-Mindedness

Frankl noted that those who were able to maintain hope for the future—those who had something to look forward to—were more likely to survive the camps. He writes, “It is a peculiarity of man that he can only live by looking to the future.”

Application for Business: In the business world, this insight speaks to the importance of vision, goal-setting, and maintaining optimism about the future. Companies and entrepreneurs who cultivate a forward-looking mindset are better positioned to:

• Navigate short-term challenges with resilience.
• Make strategic, long-term decisions.
• Inspire and motivate their teams.
• Innovate and stay ahead of market trends.
• Attract investors and partners who share their vision.

Companies like Amazon, which has consistently prioritised long-term growth over short-term profits, or SpaceX, with its ambitious goals for space exploration, demonstrate how a future-orientated approach can drive innovation and success.

Action Steps for Entrepreneurs:

1. Develop and regularly communicate a compelling long-term vision for your company.
2. Set ambitious but achievable goals at both the company and individual level.
3. Encourage strategic thinking and scenario planning among your team.
4. Invest in research and development to stay ahead of industry trends.
5. Celebrate milestones and progress towards long-term goals to maintain motivation.

9. The Significance of Responsibility

Frankl believed that humans are fundamentally responsible beings—responsible for fulfilling the meaning of their lives. He argued that embracing this responsibility, rather than shifting blame or making excuses, was key to finding meaning and purpose.

Application for Business: In the business context, this principle underscores the importance of cultivating a culture of responsibility and accountability. Companies that emphasise personal and collective responsibility tend to benefit from:

• More proactive problem-solving
• Higher levels of trust within teams
• Improved quality of work and customer service
• Faster learning and adaptation to challenges
• Stronger leadership at all levels of the organisation

Companies like Netflix, known for its culture of “freedom and responsibility,” or Toyota, with its principle of “respect for people” that empowers employees to take responsibility for quality and improvement, demonstrate how emphasising responsibility can drive organisational excellence.

Action Steps for Entrepreneurs:

1. Clearly define roles, responsibilities, and expectations for all team members.
2. Encourage employees to take ownership of their work and decisions.
3. Implement a system of accountability that focusses on learning and improvement rather than blame.
4. Lead by example, taking responsibility for your own decisions and mistakes.
5. Recognise and reward instances of employees taking initiative and responsibility.

10. The Importance of Finding Meaning in Suffering

One of Frankl’s most profound insights is that suffering itself can be meaningful if we choose to find meaning in it. He writes, “In some way, suffering ceases to be suffering at the moment it finds a meaning.”

Application for Business: While we certainly don’t aim for suffering in business, challenges, setbacks, and difficult periods are inevitable. This insight can help entrepreneurs and business leaders approach these difficult times with a more constructive mindset. Companies that can find meaning in their challenges are more likely to:

• Emerge stronger from crises.
• Build resilience and adaptability.
• Foster a culture of continuous learning and improvement.
• Develop deeper connections with customers and stakeholders.
• Create compelling brand stories about overcoming adversity.

Companies like FedEx, which famously saved itself from bankruptcy in its early days through the founder’s perseverance, or Marvel Entertainment, which overcame bankruptcy to become a global entertainment powerhouse, illustrate how finding meaning in difficult times can lead to remarkable turnarounds and success stories.

Action Steps for Entrepreneurs:

1. Encourage reflection and learning from challenging experiences.
2. Frame setbacks as opportunities for growth and innovation.
3. Share stories of overcoming adversity within your organisation to inspire and motivate.
4. Develop crisis management plans that include identifying potential positive outcomes or learnings.
5. Use customer feedback, including complaints, as valuable input for improving products or services.

Practical Applications of Frankl’s Insights in Business

Now that we’ve explored the key insights from “Man’s Search for Meaning” and their relevance to business, let’s look at some practical ways to apply these principles in various aspects of business operations:

Leadership Development

1. Purpose-Driven Leadership: Encourage leaders to define and communicate a clear sense of purpose for their teams and the organisation as a whole.
2. Attitude Training: Implement leadership training programs that focus on developing a positive, resilient mindset in the face of challenges.
3. Ethical Decision-Making: Use Frankl’s emphasis on responsibility to guide leaders in making ethical decisions that consider long-term consequences.
4. Mentorship Programs: Establish mentorship programs that allow leaders to find meaning through guiding others.
5. Reflective Practices: Encourage regular reflection and journaling to help leaders process experiences and find meaning in their work.

Employee engagement and retention

1. Purpose Alignment: Help employees connect their personal values and goals with the company’s mission.
2. Meaningful Work Design: Restructure jobs to ensure employees can see the impact of their work on the larger organisation and society.
3. Growth Opportunities: Provide clear paths for career development and personal growth within the organisation.
4. Recognition Programs: Implement recognition programs that celebrate not just achievements but also efforts to overcome challenges and embody company values.
5. Volunteer Initiatives: Organise company-wide volunteer programs to provide opportunities for self-transcendence.

Organisational Culture

1. Values-Based Culture: Develop and promote a strong set of organisational values that align with Frankl’s emphasis on meaning and purpose.
2. Storytelling: Encourage the sharing of stories that highlight how the company and its employees have overcome challenges and found meaning in their work.
3. Transparency: Foster an open communication culture where employees at all levels understand how their work contributes to the company’s larger goals.
4. Learning from Failure: Create a culture that views failures as learning opportunities rather than reasons for punishment.
5. Work-Life Integration: Promote a culture that respects the whole person, recognising that meaning can be derived from both professional and personal pursuits.

Innovation and creativity

1. Purpose-Driven Innovation: Align innovation efforts with the company’s overarching purpose to inspire more meaningful and impactful ideas.
2. Embracing Constraints: Encourage teams to view constraints and challenges as opportunities for creative problem-solving, much like Frankl found meaning in the harshest of circumstances.
3. Cross-functional collaboration: Foster connections between different departments to create a sense of shared purpose and spark new ideas.
4. Future-Focused Brainstorming: Conduct regular sessions focused on envisioning and planning for the company’s long-term future to maintain a forward-looking mindset.
5. Meaningful Metrics: Develop metrics that measure not just financial outcomes but also the meaningful impact of innovations on customers, employees, and society.

Customer Relationships

1. Purpose-Aligned Marketing: Develop marketing strategies that communicate not just product features but how the company’s offerings contribute to a larger purpose.
2. Empathy-Driven Customer Service: Train customer service representatives to approach each interaction as an opportunity to make a meaningful difference in a customer’s life.
3. Customer Co-Creation: Involve customers in product development processes to create a sense of shared purpose and a deeper connection with the brand.
4. Impact Stories: Share stories of how your products or services have made a meaningful difference in customers’ lives.
5. Community Building: Foster a sense of community among customers who share your company’s values and mission.

Strategic Planning

1. Purpose-Driven Strategy: Ensure that all strategic decisions are aligned with the company’s overarching purpose and values.
2. Scenario Planning: Use Frankl’s emphasis on future-mindedness to develop robust scenario planning processes that prepare the company for various possible futures.
3. Stakeholder Consideration: Incorporate the interests of all stakeholders—employees, customers, communities, and the environment—in strategic planning to embrace a more holistic and meaningful approach to business.
4. Long-Term Thinking: Prioritise long-term sustainability and impact over short-term gains in strategic decision-making.
5. Adaptive Strategy: Build flexibility into strategic plans, recognising that finding meaning often requires adapting to changing circumstances.

Performance Management

1. Meaningful Goals: Help employees set goals that are not only SMART (specific, measurable, achievable, relevant, and time-bound) but also meaningful in the context of their personal growth and the company’s mission.
2. Growth-Orientated Feedback: Frame performance feedback in terms of personal and professional growth opportunities rather than just evaluation.
3. Purpose-Aligned KPIs: Develop key performance indicators that reflect not just productivity or profitability but also alignment with the company’s purpose and values.
4. Regular Check-ins: Implement frequent check-ins to discuss not just task progress but also how employees are finding meaning in their work and any challenges they’re facing.
5. Holistic Evaluation: Consider an employee’s contribution to team morale, company culture, and overall mission fulfilment in addition to their task performance.

Talent Acquisition

1. Purpose-Driven Recruitment: Emphasise the company’s mission and values in job postings and throughout the recruitment process to attract candidates who align with your purpose.
2. Values-Based Interviews: Include questions in interviews that explore candidates’ personal values and how they find meaning in their work.
3. Realistic Job Previews: Provide candidates with a realistic preview of the job, including its challenges, to ensure they’re prepared to find meaning even in difficult aspects of the role.
4. Cultural Fit Assessment: Assess cultural fit based not just on personality but on alignment with the company’s purpose and values.
5. Onboarding for Meaning: Design onboarding processes that help new hires understand how their role contributes to the company’s larger purpose from day one.

Crisis Management

1. Purpose-Centred Response: Ground crisis response in the company’s core purpose and values to maintain consistency and trust.
2. Meaning-Making Communication: Frame crisis communications in a way that helps stakeholders make sense of the situation and find meaning in the collective response.
3. Employee Support: Provide resources and support to help employees find meaning and maintain resilience during crises.
4. Learning Orientation: Approach each crisis as an opportunity for organisational learning and growth.
5. Stakeholder Engagement: Involve stakeholders in crisis resolution efforts to create a sense of shared purpose and collective resilience.

Corporate Social Responsibility (CSR)

1. Aligned Initiatives: Develop CSR initiatives that align closely with the company’s core competencies and purpose.
2. Employee Involvement: Create opportunities for employees to actively participate in CSR initiatives, allowing them to find meaning through their contribution to society.
3. Impact Measurement: Implement robust systems for measuring and communicating the real-world impact of CSR efforts.
4. Partnerships for Purpose: Form strategic partnerships with non-profits or other organisations that share your company’s values and can amplify your impact.
5. Integrated CSR: Rather than treating CSR as a separate function, integrate social and environmental considerations into all aspects of business operations.

Conclusion: The Enduring Relevance of Frankl’s Wisdom in Business

Viktor Frankl’s “Man’s Search for Meaning” offers timeless insights that are profoundly relevant to the modern business world. By applying Frankl’s principles—emphasising purpose, cultivating the right attitude, finding meaning in work and challenges, fostering human connections, embracing responsibility, and maintaining a future-orientated mindset—businesses can create more resilient, innovative, and ultimately successful organisations.

Moreover, by helping employees and customers find meaning through their work and interactions with the company, businesses can contribute to a more fulfilled and purpose-driven society. In an era where trust in institutions is low and many people report feeling disconnected and unfulfilled in their work, Frankl’s insights offer a pathway to creating businesses that not only succeed financially but also make a meaningful difference in the world.

As we navigate the complexities and challenges of the modern business landscape, Frankl’s words serve as a powerful reminder: “Those who have a ‘why’ to live can bear with almost any ‘how’.” By focussing on the ”why’—the purpose and meaning behind our business endeavours—we can build organisations that are not only more resilient and successful but also more fulfilling for all involved.

Ultimately, the application of Frankl’s principles in business is not just about improving bottom lines or increasing productivity. It’s about creating a new paradigm of business—one that recognises the fundamental human need for meaning and purpose and leverages this understanding to create value for all stakeholders. In doing so, we can transform our workplaces, our businesses, and potentially our world.

As entrepreneurs and business leaders, we have the opportunity—and perhaps the responsibility—to create environments where people can find meaning, even in the face of challenges. By embracing this approach, we can build businesses that not only weather storms but emerge from them stronger, more purposeful, and better equipped to make a positive impact on the world.

In the end, Frankl’s message is one of hope and empowerment. No matter the circumstances, we always have the power to choose our attitude, find meaning in our experiences, and direct ourselves towards a purpose greater than ourselves. For businesses willing to embrace these principles, the potential for positive transformation—both within the organisation and in its impact on the world—is truly limitless.