The focus on corporate culture, both internally and externally, is shaping governance and board strategy. Malcolm Finn, financial controller and Hayley Martin, group internal audit manager at Costa Coffee reflect on the impact of a changing culture
Companies are continuously assessing their strategic context and striving to determine how they can be both successful and sustainable. Organisational culture is rising up risk, regulation and corporate agendas as a means of achieving both. Its influence on corporate performance, and as a consideration for investors and regulators, should not be underestimated.
London has been at the centre of importing, roasting and selling one of the world’s most important commodities for nearly 400 years. The coffee house culture in London of the 17th and 18th centuries allowed some of the greatest thinkers to debate and exchange ideas in a culturally rich and diverse environment.
More recently, many commentators have highlighted that culture is a key source of competitive advantage and failings in corporate culture may have serious consequences. Intriguingly, though, culture is an index of phenomena that are powerful in their impact and yet hard to discern. The impact of how culture affects performance has received significant attention of late and culture has become one of the most important business topics of 2016.
