Many of my former teachers have expressed the importance of a business culture, a good “fit” of people in a company, but when I asked one how someone creates culture, the answer did not seem so clear. “Hire the right people,” she said, and when I asked how to do that, she only said it requires a lot of tests (and even then, you’re not sure).
That response never sat well with me. Few companies garner loyalty so strongly outside the organization that people will wait to get in, and there’s little evidence that loyalty is gained by hiring practices. So, how does someone create a culture?
Last semester, I touched on the importance of why a business exists, and the relationship between the why of a successful business versus a not-so-successful one (tl;dr—it’s rarely to make money). A why and the vision that follows it tie directly into creating culture. Is it important to hire the right people? Absolutely. A Stanford report suggests that struggling companies are more likely to hire CEOs from outside. Are they struggling because the CEOs prior were internal, or is it a sign that the business is approaching its final days? Next issue I will explore these questions.
Camosun Business Study Group is focused on students helping students to succeed both in and outside of the classroom. For news and events, follow them at facebook.com/cambussg.