The Purpose concept has rapidly gained prominence in management literature. Purpose is current-ly considered one of the most influential concepts in the business world, promising to enable the transformative power of businesses. This systematic literature review evaluates 152 studies from 2005 to 2023, identifying a research gap regarding the challenges and potential downsides of the Purpose approach in for-profit businesses. We introduce a framework delineating the complex relationship between applying a Purpose concept and the effects at individual, organizational, and societal levels. Our framework highlights three key challenges influencing the outcome: Purpose Clarity, Purpose Operationalization, and Purpose Credibility. Hence, the study augments the cur-rent understanding of Purpose-driven organizing by relating organizational challenges to the am-bivalent implications of the Purpose approach. Further, we enrich the academic discourse by pos-tulating the inherent ambiguity in managing the key challenges. Thus, we assist practitioners in navigating potential pitfalls and preventing an unreflected Purpose hype.