The financial crisis prompted boardrooms to reevaluate their view of reputation and in particular the values and ethics that feed it. Since then the world has moved on, however, it’s not been without corporate scandals and it seems every sector has been affected from multi-national drug companies, through technology giants to international car manufacturers. But no matter the industry, the way in which decisions are made and the values and ethics that support them remain in the spot light.
This whitepaper explores these complex dynamics and how they can lead to weaknesses if not properly managed. It also assesses how to overcome barriers to ‘doing the right thing’ and how best to establish a cultural DNA of ethical behaviour.
Fuelling the organisation
Cultural dynamics is the fuel of the organisation. Create an environment to thrive and your people inject knowledge, energy and collaboration into the strategic imperatives. However, fail to harness their potential and your competitive edge and reputation will slide away.
It may seem a stark scenario, yet in the past few years we’ve seen brands tumble because their culture, especially the judgments that underpin their decision-making, have faltered.
Protecting ones reputation has never been so fierce a battle. Consumers now define your brand by product, service and the intangible attributes of your brand. No longer can you assume the product is enough.
In fact, research by The Reputation Institute shows that 60% of people’s willingness to engage with an organisation is driven by their perception of who they are and only 40% by the products they produce. It’s one of the clearest indicators to the boardroom that what you stand for as an organisation matters more than what you do.
This naturally brings challenges. How do you ensure consistent representation of your brand? And more particularly, how do you ensure it’s from the inside out?
Read more about Values Based Decision Making: Establishing a Cultural DNA