No value creation without culture
The most successful organizations understand that the purpose of any business is to create value for customers, employees, and investors, and that the interests of these three groups are inextricably linked. Therefore, sustainable value cannot be created for one group unless it is created for all of them.
When broadly defined, value creation is increasingly being recognized as a better management goal than strict financial measures of performance, many of which tend to place cost-cutting that produces short-term results ahead of investments that enhance long-term competitiveness and growth. As a result, value creation should be the first priority for all employees and all company decisions.
Organizations that emphasize clearly defined cultures that are aligned with company value creation enjoy better performance, greater financial gain and long-term employee commitment. But what is corporate culture?
Culture is everything. The culture is the number one most important thing about a company. And the success of the company really depends on having the right culture and keeping it strong
Lori Fouché, CEO, Fireman’s Fund:
Culture is the glue that holds an organization together. It helps guide all the decisions, how you behave and act. You can pick whatever strategy you want but how you go about doing it is the difference between, oftentimes, success and failure
Steve Kaufer, Founder & CEO, TripAdvisor:
Culture is the style or the method by which the employees are working each day to fulfill the mission of the company
Dan Mead, CEO, Verizon Wireless:
Culture is the very core of what we do. It starts with integrity, earning the trust of customers and following through
Corporate culture is an incredibly powerful factor in a company’s long-term success. No matter how good your strategy is, when it comes down to it, people always make the difference. Not paying attention to culture undermines performance.
The most important thing about culture is that it’s the only sustainable point of difference for any organisation. Anyone can copy your strategy, but nobody can copy your culture. So don’t leave it untended!
What does it take to create the right kind of culture? How can you maintain that culture?
Short URL & Title:
No value creation without culture — http://www.torbenrick.eu/t/r/ojl
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