NACD Blue Ribbon Commission 2017: Culture as a Corporate Asset report
Editor’s Note: Introduction provided by Eugene Supulveda, Culturati Summit Founder and CEO, Entrepreneurs Foundation
The National Association of Corporate Directors (NACD) is the largest association of corporate directors in the world. It’s members include public and private company directors from the largest multinational companies. Last week, they released this Blue Ribbon Commission Report, Culture as a Corporate Asset. Thirty-four commission members from companies as diverse as eBay, Monsanto, Morgan Stanley, JP Morgan Chase & Co, Verizon, AMD and Coca-Cola came together to author the report.
The report recognizes the contribution of culture to value creation, to the alignment between goals, strategy and performance; and it strongly recommends that boards prioritize the oversight of company culture — while acknowledging that some CEOs may consider some recommendations an overreach.
Obviously, culture or what some call a lack thereof (but which is a bad culture) has been in the news. Companies can lose reputation, CEOs and quite literally, tens of billions in valuation as a result of bad culture. It wasn’t so long ago that some even lost the right to operate, wiping out investors completely.
I was pleased to speak at NACD’s annual Global Board Leaders’ Summit in Washington DC last week on a panel, Aligning Culture with Strategy.
I recommend this report to all board members (for and not-for-profit, public and private), management and entrepreneurs.
Similar to an organization's people, intellectual property, technology, and other assets, culture is a key success…www.nacdonline.org
Click on: Download the complimentary Report and Recommendations