Our Competitive World – Company Culture Importance
Essay Preview: Our Competitive World – Company Culture Importance
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In our competitive world, a company must perform well in order to survive. A company should be able to thrive in this world by being able to communicate with different cultures. Company culture is important because it can make or break your company. Companies with an adaptive culture that is aligned to their business goals routinely outperform their competitors. Some studies report the difference at 200% or more. To achieve results like this for your organization, you have to figure out what your culture is, decide what it should be, and move everyone toward the desired culture. There are many ways to assess your company culture. There are consultants who will do it for you, for a fee. The easiest way to assess your companys culture is to look around. How do the employees act; what do they do? Look for common behaviors and visible symbols. Company culture is important because it can make or break your company.This definition continues to explain organizational values, described as “beliefs and ideas about what kinds of goals members of an organization should pursue and ideas about the appropriate kinds or standards of behavior organizational members should use to achieve these goals. From organizational values develop organizational norms, guidelines, or expectations that prescribe appropriate kinds of behavior by employees in particular situations and control the behavior of organizational members towards one another. Organizations should strive for what is considered a “healthy” organizational culture in order to increase productivity, growth, efficiency and reduce employee turnover and other counterproductive behavior. A variety of characteristics describe a healthy culture, including:
Acceptance and appreciation for diversity
Regard for and fair treatment of each employee as well as respect for each employees contribution to the company
Employee pride and enthusiasm for the organization and the work performed
Equal opportunity for each employee to realize their full potential within the company
Strong communication with all employees regarding policies and company issues
Strong company leaders with a strong sense of direction and purpose
Ability to compete in industry innovation and customer service, as well as price
Lower than average turnover rates (perpetuated by a healthy culture)
Investment in learning, training, and employee knowledge