Following the publication of the Report on Corporate Culture and the Role of Boards by the Financial Reporting Council (FRC), the City Values Forum working with Tomorrow’s Company has released for consultation a draft guide entitled Governing Culture: Risk and Opportunity? – a guide to board leadership in purpose, values and culture.
Sir Win Bischoff, Chairman of the Financial Reporting Council, in a foreword to the guide writes:
“Culture is a critical element in the long-term success of any business. It is both a risk and an opportunity – a healthy culture which is consistently nurtured and developed can protect and enhance the value of an organisation and help differentiate it from its rivals. As we have seen all too often, if culture is neglected this can lead to a destruction of value.
In all of this boards have a leadership role to play and are accountable for the governance of culture…
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