From Morningstar: 2024-05-14 07:29:00

Don Phillips joined Morningstar in 1986, establishing the firm’s independent voice and mentoring analysts. The success of companies often depends on how they define themselves. Morningstar has been a “Why” company since its founding, driven by a mission of investor success. This approach allows for adaptability and longevity in a changing market.

Most companies are either “What”, “How”, or “Why” companies. “What” companies resist change, leading to irrelevance or extinction. “How” companies have short shelf lives due to their delivery focus. “Why” companies, like Morningstar, can adapt while staying true to their mission, attracting and retaining top talent for sustained success.

Morningstar’s mission-driven approach has allowed for continuous adaptation and growth. By evolving with the times while remaining true to their purpose, Morningstar has stayed relevant in the market. The mission not only guides the company’s direction but also attracts dedicated employees who believe in making a difference.

After 40 years, Morningstar’s enduring success can be attributed to its mission-driven approach. By empowering investors and staying true to their purpose, the company has prospered. Attracting and retaining top talent is crucial for sustained success in any firm, and having a clear mission is key to achieving this.



Read more at Morningstar: Morningstar at 40: A Why Company