Diversity has direct and surprising positive effects on your business. Not only can it yield a range of beneficial impacts but it can also help limit some of the more extreme tendencies your teams may face. It is a proposition I recently put forward in an article for Acquisition International and one that I’d like to reflect on here.
Can and should corporate culture be regulated?
In Australia we are currently witnessing increasing business pressure from ASIC (Australian Securities and Investment Commission) to ensure that culture is being managed.
The recent political events in the UK have reminded me of a saying that I often use; ‘the only thing we can predict about people is that people are unpredictable’. You may be wondering what I mean by this…
When I ask teams of executives if they can identify the business imperatives for culture in their organisation, one thing that is often mentioned is agility. "We need to become a lot more agile or flexible as an organisation."
More and more organisations want to be in a position to quickly respond to market changes, be the first to implement new ideas, or simply reduce bureaucracy. This question of agility appeals to all – small, medium and large organisations.
But what does it mean for an organisation to be flexible?
Why do we do all this work? What is the value in focussing on culture?
Everything, it seems to me, comes down to certain key behaviours that will make or break the organisation's strategy. Culture is the container which supports these behaviours. Values lead to them. Bonuses reward them. Appointments promote them. Leaders role model them.