What are the ingredients of a strong company culture? In most cases, it is the result of hard work, consistency, and accountability; characteristics adopted by owners and employees alike. Family businesses are no exception. It might seem tempting to assume that family ownership would result in strong culture and a sense of purpose naturally, however, the reality is different.
Dov Baron is a best-selling author, with 30 years of experience he has been twice cited by Inc.com as one of the “Top 100 Leadership Speakers to Hire”. He is a leading authority on Authentic Leadership and Leadership Succession. His career in this field began after a friend invited him to speak to his board of directors about purpose in business. Dov quickly realized he had valuable insights to share and a vocation was born. Over the years, his expertise has taken him around the globe where he has been the headline speaker for organisations, and global conferences focused on purpose-driven, authentic leadership and cultural strategies.
Everyone has an idea of what great company culture means. To some, it immediately conjures up the image of Silicon Valley startups with game rooms and recreational facilities. What are the hallmarks of a healthy and vibrant company culture?
It funny isn’t it, so often when we think about company culture, it’s easy to jump to this idea of the ping-pong tables, cappuccino bars, and the bean bag chairs. But that’s not culture. Those are bonuses. When you nail the culture, you nail the brand, and you will grow the company. The three things are inextricably linked. There has been considerable research done that has shown that companies that are purpose-driven over a period of 20 years are 1681% more profitable than their competitors. That’s a significant profit gap based on formulating and operating from a clear purpose.
What companies come to mind when you think of exemplary company culture?
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