Corporate Culture—Driving Business to Failure, or Success

Abstract

Corporate culture is difficult to gauge and even more challenging to change, but remains a critical driver of how an organization's people operate and indeed whether a company will succeed or fail in the marketplace. In this article, which is excerpted from his book, Governance, Risk Management, and Compliance: It Can't Happen to Us—Avoiding Corporate Disaster While Driving Success (published by John Wiley & Sons), recognized GRC expert Richard M. (Rick) Steinberg outlines how the cultures of some well-known companies have wreaked havoc, and how the CEOs and senior management teams of others have gotten it right with associated success. It highlights how cultural issues, including integrity and honesty in communications within the management ranks and with the board of directors, are critical to achieving strategic objectives.