Corporate culture describes and governs the ways a company's owners, managers and employees think, feel and act. Regardless of whether your corporate culture written as a mission statement, spoken or merely understood your corporate culture plays a big role in determining how well your business will do. It has a direct impact on your company’s financial performance.
Whilst most companies have a vision and mission, very few have written a formal ‘corporate culture’ strategy in place. It just happens, and the ‘way things are done’ varies depending on who is in charge. However, in today’s highly competitive, increasingly connected markets, it is even more important companies take a proactive approach to their corporate culture.HR.com and Crawford international found in their on ‘Leadership and Culture’ that “...companies with positive corporate cultures, matched with effective leadership efforts, clearly outperform competitors.”Successful cultures are not set in stone. It needs to be ‘adaptive’ so as to more easily take advantage of market opportunities and respond more effectively to any challenges.How to change Your Corporate cultureChanging your corporate culture is not easy as it affects the entire company on multiple levels. Employees have to adopt new ways to do things (behavioural) and how to think (emotional).Here are four important challenges to consider when implementing a new corporate culture strategy: