This article is essentially a review of consultant Carolyn Taylor’s new book “Walking the Talk,” in which the author stresses the role of corporate culture as a source of competitive advantage. She recommends investing in one’s corporate culture and defining and developing it to attract and keep the right employees, foster positive workplace practices and ultimately directly impact the firm’s bottom line. This “culture management,” she notes, is “the newest management discipline.”
Culture is viewed here as a new opportunity and “one of the last sources of competitive advantage.” Ms. Taylor’s book is a guide to understanding and implementing cultural change to capture and exploit this situation. Acquiring a handle on one’s culture and developing an effective program of cultural management is seen as a 2-5 year project requiring a plan whose ultimate objective is to create a set of values in employees that will positively influence their behavior and ultimately the way the company is perceived by the market.
The book provides implementation guidelines and a way to initially assess whether such a step is needed. She estimates the annual cost of a three year program at about $1,000 per employee per year.
Source: The Gold Coast Bulletin; Feb 12, 2005