Director Download: Transforming Company Culture - a Strategic Perspective for Directors

Event Date: 
13 May 2019
Australian Institute of Company Directors
Level 1 Allendale Square, 77 St Georges Terrace

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Culture creates the foundation for strategy and will either be a company’s greatest asset or largest liability. While culture has many aspects and manifestations, its core should include a clear sense of purpose and shared values that guide decision making across the company.

Great company culture starts with core values - an increasingly important component in strategic planning. Corporate values represent the guiding principles of the organisation’s culture, including what guides members’ priorities and actions within the organisation. Values are an increasingly important component in strategic planning because they drive the intent and direction of the organisation’s leadership.

The fallout from the financial services royal commission has prompted a warning to Australia's biggest companies to dramatically improve their culture.

The ASX Corporate Governance Council has re-drafted some core principles urging company boards to heed calls to enforce a better culture and to always act lawfully and ethically. First step is to define a set of values that are clear, realistic, and to an extent ‘aspirational’. Second step is to embed those values in the systems and processes of the company. Third step is to ‘call out’ people who do not live the values and most importantly, the leaders and Board are the ones that must set the tone.

John will share his strategy and experience of transforming organisations through Values.

What will I take away from this session?
• Why Values are the drives of Culture
• Why Culture is equally as important, if not more important than strategy
• That developing company culture is not a tick the box exercise
• Practical strategies for holding the CEO and leadership team accountable for developing and implementing the right values

Knowledge of topic required?
• Base Knowledge

Australian Institute of Company Directors
08 9320 1700