WHY ARE CORPORATE BOARDS SCARED OF COMPANY CULTURE?
Corporate culture is a topic most boardrooms treat with polite indifference — until they find themselves facing cultural disasters like those at Uber, the Weinstein Company, Volkswagen or Wells-Fargo. Then, according to a special report in the November issue of online monthly Boardroom INSIDER, directors discover too late that they lack the knowledge, tools (and courage) to manage company culture.
“The board IS the company’s culture, but typically they avoid dealing with it or accepting responsibility,” says BI publisher and boardroom speaker Ralph Ward. “The board has little incentive to monitor company culture — and even less to dig in and try to shape it in positive directions.”
The November BI offers tools on how boards can get a read on culture within the company (culture assessment surveys are only a first step, Ward notes); the role boards can shape in resetting it (pay plans are the most powerful tool, but most boards shy away from using them); and a roundup of best practice company culture statements from around the world.
Also in the November Boardroom INSIDER: