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November 28, 2019Comments are off for this post.
For many organisations today, culture has become a liability. Although culture is essential for organisational performance and health, a pervasive inability to understand and manage culture in support of business performance has become a significant strategic risk.
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is complete. Across 76 recommendations, the verdict is in: a profit over people approach had established deep roots in the culture of many organisations. With APRA and the broader community seeking effective reform, a question has emerged related to culture: can it be regulated?