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Emphasis on Culture Not Leading to Higher Performance
Survey finds top execs are interested in building performance cultures, but few know how to make it happen.
Performance Culture: Corporate culture describes a set of practices or behaviors
that characterize the way a particular company operates. Although the idea of
building a strong corporate culture has gained steam in many companies in recent
years, few organizations have been able to parlay it into high performance.
According to a survey by executive management firm Bain & Co. of New York,
“fewer than 10 percent of companies currently succeed at building
high-performance cultures,” despite nine of 10 CEOs acknowledging that
“corporate culture is as important as strategy for business success.” Bain
surveyed about 1,200 international executives for its annual survey. Also
notable: 70 percent of executives rank having environmentally friendly products
and policies as “an important part of their mission,” particularly for operating
in countries with emerging markets. —Garry
Kranz
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Index: Quick Takes April 17, 2007
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