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Corporate Culture

There are times when the employees in a company, especially at tech firms, influence the ethics there. Google and Microsoft employees recently made their employers go back on some initiatives, the employees deemed weren’t adhering to their set of values. Engineers and skills developers have been known to place value on aspects of work beyond merely monetary compensation. This is a crucial aspect tech firms need to understand to improve their talent recruitment and retention levels. Younger employees from the millennial generation, in particular are known for their preference towards companies adhering to their set of ethics. Social media also plays a strong role now, as employees can gang up together to voice their views and concerns. The governance paradigms also influence the employer- employee relationship.

Source:http://knowledge.wharton.upenn.edu/article/can-tech-employees-change-the-ethics-of-their-firms/

Uploaded Date:07 January 2019

The Brainstorm Reinvent conference was held in Chicago. This was jointly organized by Fortune and McKinsey. The key takeaway that emerged from this summit, was that culture is the most important aspect for successful organizational reinvention. Instead of merely adding more fuel to the existing tools, newer methods need to be adopted. The analogy between sailing ships and steam- powered ones was given. The usually understood competition between industry incumbents and digital natives is also misunderstood. Rather they depend on each other. To cite an example, 153- year old company Cargill is making use of the services of the much smaller newbie Descartes Lab for its business analytics requirements. Technology and innovation are also important, but culture most so for this transformation sought.

Source:https://www.mckinsey.com/about-us/new-at-mckinsey-blog/want-to-reinvent-your-business-start-with-culture?cid=other-eml-alt-mip-mck-oth-1810&hlkid=04afdb9a525a418c8a8168e24de6ac2c&hctky=9953462&hdpid=87b6d6d0-358a-4aa7-bf72-42b82d74b349

Uploaded Date:07 January 2019

It is now widely recognized that the company culture is often the biggest motivating factor for employees in any company. In a study conducted by management consulting giant PwC what emerged is that nearly three- fourths of C- Suite executives believe in culture as a motivating factor, but it drops down to less than half for the non- managerial cadre. In order to close this gap, team leaders must begin with establishing cultural goals on what can realistically be achieved. A sense of emotional energy needs to be curated within the firm to bridge this gap. Whatever behaviours are to be expected out of the employees, need to be replicated by the leaders themselves. This culture must be made viral using Authentic Informal Leaders (AILs). All these aspects have been discussed in a forthcoming book titled The Critical Few: Energize your Company’s Culture by Choosing what Really Matters.

Source:https://www.strategy-business.com/article/Closing-the-Culture-Gap?gko=f1b58

Uploaded Date:07 January 2019

A lot of hidden conflicts can emerge when groupthink or her mentality becomes the norm at any organization. In a recent book, the massive talent management challenges faced at such stages have been outlined. This book has been written by Patrick Lencioni and called The Five Dysfunctions of a Team. There are a few instruments which if used properly, can curb the onset of groupthink in any organization. The cultural values will need to be amended likewise, but in a gradual, phased manner. The first thing to develop is mental agility, so that the employees are flexible enough at work to experiment periodically. A sense of cognitive humility needs to be built within the organization to foster a sense of intellectual diversity. Employees need to believe in a sense of psychological safety while they are working at a firm.

Source:https://www.strategy-business.com/article/When-Cultural-Values-Lead-to-Groupthink-the-Company-Loses?gko=60d38

Uploaded Date:31st December 2018

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