|Is Corporate Culture Part of Your Business Plan?|
|News Releases - Business, Economy & Finance|
|Written by Ginny Grimsley|
|Monday, 07 April 2014 09:47|
Former Executive Lists 4 Cultural Values & Behaviors
of Successful Companies
Whether you’re launching a new business or wondering why your existing company isn’t performing as well as predicted, longtime corporate executive Larry Katzen suggests taking a careful look at your business plan.
Did you include a section describing the workplace culture and the steps you’ll take to foster that culture?
“When you look at why businesses fail, it almost always has something to do with the culture,” says Katzen, author of, “And You Thought Accountants Were Boring - My Life Inside Arthur Andersen,” www.larrykatzen.com. “For nearly half of the startups that fail, incompetence is cited as the major cause, according to Statistic Brain. Tolerating – or not tolerating -- incompetence is part of corporate culture.”
Katzen, a former managing partner at one of the world’s top five accounting firms, said his experience taught him a great deal about what kind of culture results in successful businesses. It was sadly ironic, he says, that Arthur Andersen, which held integrity chief among its values, was wrongly convicted of fabricated accusations related to the Enron scandal. The Supreme Court eventually exonerated Arthur Andersen, but the damage was already done.
“Today’s business leaders cannot leave culture to chance,” Katzen says. “They must decide what values and beliefs will form the foundation of their company, and they must ensure those values are integrated every day through example, communication, policy and incentives.”
He lists four cultural values and behaviors your company must have to be successful:
Sometimes, Katzen says, CEOs with firmly held values conducive to an energetic, thriving workplace will naturally and unconsciously create a great corporate culture. But those who take time to think about the culture they want, spell out the details and exemplify and communicate them have a greater chance of success.
“Make it part of your business plan, because it’s as important as anything else in that plan.”
About Larry Katzen
After graduating from Drake University in 1967, Larry Katzen started working at Arthur Andersen and quickly rose through the ranks to become the Great Plains Regional Managing Partner. An honorable, hard-working man who devoted his life to Arthur Andersen, Larry was there from the company’s meteoric rise to its unjust demise. He stayed with the firm for 35 years, serving clients globally until 2002. He recounts his experiences in, “And You Thought Accountants Were Boring - My Life Inside Arthur Andersen,” (www.larrykatzen.com).
Tags See All Tags