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 paper entitled: Governing Culture: Risk and Opportunity? – a draft guide to board leadership in purpose, values and culture.
Oonagh Harpur underlines the importance of culture for boards and strategy and suggests that boards can do three things to turn culture into an opportunity:
1) Assess existing organizational culture
2) Align purpose, values, strategy and culture
3) Assure themselves as a board that what is happening on the ground correlates with what they want.
When all of these are done, boards can create success and value across the whole ecosystem in which they operate.
In order to get more information on culture, boards can use the simple and practical toolkit which consists of 24 questions to be answered and a roadmap to what a good culture looks like.
Consultation on the guide is opened for comments and suggestions until Wednesday, 7th September. Contributions should be forwarded by e-mail to richardsermon@gryphoncorporate.com and pat@tomorrowscompany.com.
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