Discussions of corporate ‘culture’ have become a greater part of how regulators view companies and corporate culture forms a central element of the Financial Reporting Council’s recent update of the UK Corporate Governance Code.
It is obvious that the culture and values of an organisation are significant drivers of its performance, but understanding and modifying culture can seem like an impossibly vast and abstract exercise. It can be hard to pin down, uncomfortable for management and difficult to demonstrate tangible results to stakeholders.
Cultural change does not occur without effort, understanding and a clear approach to cascade the values expressed by the Board through the organisation. Merlance provides an approach to cultural evaluation and a structure for using this to build and improve a firm’s culture in a way that is tangible and explicable to interested parties.