Adopt the means to measure and manage the return on culture consistently
The problem is that company culture—and how to shape it—is grossly misunderstood
NEW DELHI :
A great feature of today’s digital economy is that information is free and easy to obtain. This means that everything a company does is in plain sight of everyone in the world. Gone are the days when a company could indulge in unethical practices to maximize profits and get away with it. In today’s borderless world, such practices are brought to light sooner rather than later, creating massive reputational damage, which further results in reduced sales and earnings. Take Uber for example. When negative news about its internal culture and unethical business practices began to emerge, a lot of users deleted their Uber apps and switched to competition. Ultimately, the then CEO Travis Kalanick had to resign. Volkswagen, Deutsche Bank and Wells Fargo are just a few more examples of how easily unethical practices can hurt a good business.