June 11, 2018 by Tony Chapman
Board Owns Culture
What’s the hottest issue in the boardrooms of leading Australian companies at the moment?
If you guessed corporate culture, you’d be spot on!
The recent Banking Royal Commission again highlighted the importance of organisational culture, with poor culture featuring prominently as the cause of the deficiencies and breaches identified. Regulatory bodies around the world, including APRA
and the ASX
here in Australia have stepped up their focus on the Board’s role in organisational culture, with ASIC observing that:
“The causal link between culture and performance is such that it must be considered a key risk area for a Board, and no board should believe that it doesn’t have a role to play with regards to culture”
SRA recently ran a roadshow for the Australian Institute of Company Directors
on the Board’s role in culture, and were delighted with both the attendance and the level of engagement in the topic. The focus was on boardroom behaviours that optimised the performance of boards while also setting the cultural tone for the organisation.
The photo below was taken from the Launceston event. Our thanks to Harvey Lennon, Jane Bennett and Lynn Mason for joining the panel for this session.
Tony Chapman is a Director of SRA Corporate Change, as well as a mentor, coach, facilitator and senior consultant.
Categories: Change, Culture, Leadership, Management, Strategy, Tony Chapman
Tags: accountability, AICD, corporate culture, Culture, leadership, organisational culture, performance, strategy, Tony Chapman