Time for organisation leaders to move the focus on Organisational Culture up the priority list to the top of the pile.
Successful organisation do this as a matter of course.
For those that don’t, there is added impetus to the focus on Organisational Culture with the recently announced warning by Mr Greg Medcraft, the head of the Australia’s corporate watchdog, the Australian Securities and Investment Commission (ASIC).
Mr Medcraft placed Organisational Culture at the centre of ASIC’s activities by warning companies they must foster a positive culture or face “deep dive” investigations by ASIC.
According to Mr Medcraft, “Culture matters, to ASIC, to business and to customers”. He went on to say that “Culture is at the heart of how an organisation and its staff think and behave” and that that “its an issue that companies themselves must address”
Strong words from someone who matters.
Mr Medcraft goes on to say that “successful cultures would seek and value customer feedback, encourage challenge, guard against complacency and genuinely put customers at the heart of the business something only the organisation can determine.
Greg Medcraft says big banks and wealth managers cannot simply blame "bad apples" for misconduct. Source: Sydney Morning Herald. Photo: Cole Bennetts
So what can be done to address the need for a strong organisation culture? A good place to start is with the following questions:
Who is responsible?
What exactly is the organisation’s culture?
How does organisation culture fit with all the other priorities of the organisation?
Who can help?
Who is responsible?
As organisation culture affects the whole of the organisation, there is only one person who has this responsibility and that is the Chief Executive/Managing Director. This responsibility cannot be delegated, it is simply too important an element of their work to pass over to other people in the organisation.
What exactly is the organisation Culture?