When you ask how culture influences business, many might not have a straight answer. It is not surprising since most of its impact is intangible and subtle. But anyone connected to the company, be they staff, partners, customers, or service providers, feel and value it. That is why you will find it in the mission statement of all companies. The corporate culture facilitates the business decisions of your company. In this article at Small Business Chron, George N. Root III shares how company culture influences business.
How Culture Influences Business Subtly
What’s Your Company’s Risk Appetite?
You can understand how company culture influences business by looking at your company’s risk appetite. If your firm wants to reduce its carbon footprint, the leaders will not take risks that would harm the planet in any way. So, your products and services would be environment-friendly.
Do Employees Feel Involved?
The more transparent your company policies are, the more involved the employees will be. If your company does not fulfill the goals relating to staff’s career growth, distrust will build. Skepticism will eventually spread, and staff will not believe what the leaders say. It will lead to employee attrition and an undesirable knowledge drain.
Are the Perks Good Enough?
Good perks, pay increases, incentives, etc., can encourage staff members to improve their work efficiency. If the company maintains its side of the bargain, high-performing professionals will feel more motivated. That is how culture influences business through awards and incentives. However, if someone gets a pay raise despite not being a good performer, it will demoralize the hard-working aspirants on the team. So, companies must learn how to create performance policies that are positive and motivating.
How Culture Influences Business and Company Values
Though the founding members write the company values, those values should be reflected in the temperament of the employees. The leaders should know how the corporate environment influences the business and strive to create a strategy that will showcase the corporate culture.
To view the original article in full, visit the following link: https://smallbusiness.chron.com/impact-corporate-culture-business-strategy-21891.html
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