Is Your Corporate Culture Helping or Hindering Your Strategy?There is no question that the last few months have significantly changed the world and the way we operate as individuals, as businesses, and as countries. A global shift is required in the way we think, behave, and live our lives.
Now is the time for leaders to reassess and rethink how we want our ways of thinking, behaving, living, and working to evolve and improve.
Culture in the Corporate World We think of corporate culture as a company’s collective values, beliefs, and behaviors. Once considered the “soft” side of employee life, company culture is generally acknowledged to be a significant factor in long-term business success.
Our organizational alignment research found that corporate culture accounts for 40% of the difference between high and low performance in terms of revenue growth, profitability, leadership effectiveness, customer loyalty, and employee engagement.
Duke University’s recent study of over 1,000 senior executives found that 92% reported that improving their company culture would increase their company’s value, but only 16% felt their culture was “where it needed to be.” Clearly, there is some cultural alignment work to be done.
Culture and Strategy Work Hand in Hand As corporate strategies and operations are redesigned to accommodate the new normal of business, organizational culture must also adjust.
Why?
Because your strategies and plans must go through your people and culture to be successfully implemented.
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