From the course: Protecting Profitability by Reducing Financial Risk

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Creating a resilient company culture

Creating a resilient company culture

From the course: Protecting Profitability by Reducing Financial Risk

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Creating a resilient company culture

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- While most CEOs understand the value to the organization of having a strong culture, they often miss the correlation with risk management. Here's why they are integral to each other. Risk management is the process of identifying exposures, hazards, and perils that can compromise an organization's mission and goals. The process continues by putting controls and initiatives into place to prevent and mitigate calamity. Calamities caused by a poor culture and lack of leadership are enemies to profitability. In fact, both culture and leadership can be mediocre and still present a major hurdle in reaching company objectives. You're familiar with the perils that lead to crisis. High turnover leads to lack of consistency. Apathy leads to poor performance. Lack of strong leadership leads to poor decision making. Unhappiness at work leads to high turnover. Let's discuss my six steps to developing a robust and resilient company culture. Step one, create a consistent and clear hiring practice…

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