In the most recent shareholder meeting for Berkshire Hathaway, Warren Buffet claimed that 99.9% of the value in the company was the culture. This could sound like big news, but we’ve known this for years. Any company that is going to radically increase its value must produce a sustainable, competitive, and effective culture. Cultures are learned, shared and integrated through social systems with customs, rituals, values, ethics, artifacts and norms.
A culture is a social system of shared values, philosophies, narratives, and practices that exist and operate in the enterprise. It is the way we maintain and continuously improve on the habits, traditions, and practices of an enterprise.
We hear words all the time like Trust, Team, Competitive Advantage and Value. Rarely, if ever have we encountered anyone who has a working understanding and distinction for these foundational business concerns. Do you know what Trust is and how you produce it on the way to having a competitive Team?
You already have an existing culture. What is it? Is it appropriate for your company vision and mission?
Every company goes through multiple phases from formulation and constitution to momentum. One of the most dangerous phases is stability. Stability sounds like something to be desired, but any moment you find your company in stability is a moment you are falling behind. In the most fiercely competitive and global environment in our history you cannot afford to wait. You are either gaining power with a competitive team or you are losing power as your competitors innovate new designs and offers that diminish the value of your offers.
What is required in this Fifth Industrial Revolution is a new way of BEING. Everyone, employees, employers, colleagues, and owners want to be part of something that has a bigger purpose—a contribution to the betterment of our world. They want to be on a high performing Team that embraces their well-being and families at the same time. This is what produces passion, energy and commitment to increase productivity, innovations, energy, enthusiasm and success. We encounter business environments that are toxic and need to be stimulated with a healthy infusion of new practices, narratives, roles, identities and yes—Trust and Value.
Email me at email@example.com for an evaluation of your Culture and how it’s contributing or inhibiting your success.
Situations change continuously and cultures must adapt.