Monday, October 14, 2013

Corporate Culture: the Biggest Asset Not on the Balance Sheet

The balance sheet for any company will list all kinds of assets and liabilities, except company culture. There should be a way to account for this, because culture is a critical factor in the success of any company. A great corporate culture is like a propellant – it helps accelerate an organization toward achieving its goals. Likewise, a toxic corporate culture is like dragging a boat anchor behind you: no matter how high the throttle is set you just can’t seem to pick up speed.

Great leaders understand the value and impact of culture, and that’s why they put effort into creating a healthy one. Culture is the collectively held values, ideology, and social processes embedded in a firm. Every organization has a culture, whether it was created intentionally or is the product of evolutionary chance. For example, a set of contrasting corporate cultures is empowerment and fear.

Lessons in Corporate Culture

No comments: