One of the most frequent mistakes boards make is failing to realise the importance of culture, but it isn’t the only pitfall.
1. Failing to realise the importance of culture
This is one of the most frequent mistakes boards make. They often dismiss it as something vague and just tick a few boxes for the company report, without recognising that culture must be at the core of the company’s values and behaviour for long-term survival and success. One corporate governance regulator recently described a poor culture as a significant risk to business.
2. Presuming a company’s existing culture can be changed
Another frequent pitfall for boards is presuming the existing corporate culture can be changed quickly and easily. Culture is usually deeply embedded in a compan
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