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Assessing Culture An organization's strengths of culture can correlate with related financial performance indicators. When an organization is strong in certain areas, that organization tends to have high performance in related financial areas. The organization's strengths are determined by its members and their perspectives. Related cultural and financial areas have been identified through research on current companies. Assessing and improving cultural aspects of your organization directly affect financial performance. Building Culture Components Culture can be built one step at a time through organizational initiatives that foster and support collaborative and integrated thinking. Examples of these initiatives include: Leadership Learning Benchmarking Concept of the Customer Teams Customer Education Performance Management, including cascading and aligning balanced goals Information Service Innovation Guild Individual Development Planning, including competency leveling, growth, succession Systems Guild Appreciate Inquiry Shared Rewards Coaching and Mentoring, experience with inexperience Establishing Start-Ups When starting a business, there are many considerations. Defining your vision, your pursuits, what has to be done, and who will do this work can be overwhelming. Creating a plan and documenting it to keep you on track are invaluable tools for success. It orients all organizational members to perform in the context of how you want your business to operate and grow. Establishing a start-up with a brand, both internally and externally, is a huge step forward for differentiating your business and its products or services. Managing Transitions All successful businesses grow. This then requires that business owners manage the growth in a systematic way to effectively sustain the business. Innovation planning will ensure that organizational members think creatively to identify feasible new business models and opportunities. Integrating this thinking and resulting new models into operations is essential to creating a performance culture. Maximizing Partnerships, Alliances, and Acquisitions Businesses often grow through partnerships, alliances, and acquisitions. These relationships take special effort to ensure that cultures are aligned and focused on common direction and goals. Understanding each organization's strengths and how they complement each other is an essential component to maximizing the value of the partnership. Building a common culture that stresses collaboration and performance ensures that the investment in the partnership will provide the intended return. |
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