Culture is Critical

As most of us are seeing in today's crisis through a multitude of corporate failures, the organizational culture can make or break a company.  In this week's edition of Compliance Week, Richard Steinberg provides a wonderful circumspective article on the impact of culture.  Here's a sample of his viewpoint.

Experience shows that culture has a strong and pervasive effect on a company, either positively or negatively. Top management usually has an accurate picture of organization’s culture, but reality is that a significant number of CEOs learn too late that they were badly mistaken. Among the most critical roles of a CEO and senior executive team is to have an in-depth and accurate understanding of the company’s culture, determine what changes are needed, and take quick and decisive action to mold the culture to what’s needed to enable the company’s successful future.

A strong culture, like a company's reputation, can take years to build and a very short time to destroy. Corporate leaders must work daily to ensure a strong organizational culture is maintained for a company to withstand rough economic times.