In this edition of Global Boardroom Insights, global business leaders share their perspectives on the board's role in helping to reinforce, assess and oversee the corporation's culture.
Businesses are operating in a climate of volatility and uncertainty resulting from a broad range of factors, from Brexit and the U.S. presidential election to the unprecedented pace of technological change, disruption, geopolitical risk, and slow economic growth. In such an environment, cultivating a strong corporate culture from the top level all the way down through the organisation is key. It is a topic high on the agenda of business leaders and regulators.
One of the fundamental roles of leadership is to create and maintain a culture that reinforces the company’s core values, encourages employees to do the right thing, and helps drive the company’s long-term strategy. Culture, done well, can be a powerful driver oforganisational performance.
Given the importance of maintaining a healthy corporate culture in a challenging business and risk environment, the Audit Committee Institute interviewed directors and subject matter experts from around the world to gather their perspectives on the board’s role in helping to reinforce, assess, and oversee corporate culture.
In this edition of Global Boardroom Insights, we share their insights, which we hope will help you to facilitate robust boardroom discussions about the challenges and opportunities related to corporate culture oversight in your own organisations. While their individual views offer varying perspectives, some universal takeaways emerged from the discussions that should be worthwhile for all boards to consider. By making culture a regular item on the board agenda and asking the right questions, directors can help to ensure that culture supports business strategy.