Having been involved in two organisational change management projects, I found the following article extremely helpful from the perspective of the importance corporate culture has in driving an organisation’s ability in achieving its goals & in having metrics that (finally) enables measurement of corporate culture.
Senior executives tend to think about corporate culture as a topic that’s hard to measure and hard to change. As a result, many choose not to invest in it despite all the evidence that, when skillfully managed, culture can be a powerful and enduring source of competitive advantage.
ANZ Bank offers an example: a decade ago, the bank embarked on an effort described as a “unique plan of eschewing traditional growth strategies and recasting the culture of the bank to lift efficiency and earnings.” In the initial two years, the share of employees having the sense that ANZ “lived its values” went from 20 to 80 percent, and the share seeing “productivity in meetings” from 61 to 91 percent, with similar rises in the shares seeing “openness and honesty” and a “can-do culture.” In parallel, revenue per employee increased 89 percent and the bank overtook its peers in total returns to shareholders and customer satisfaction. A full ten years after those initial efforts, ANZ has sustained its results: its profit after tax has grown at a cumulative average growth rate of 15 percent, putting it well ahead of its industry.
What does it take to get results like these?
Click HERE to read further…
- Probing Question: What does ‘Corporate Culture’ Mean? (gantdaily.com)
- Five Critical Questions About Organization Culture That People Avoid Asking. (mootee.typepad.com)