European Parliament Library

Seven deadly sins of organizational culture, lessons from some of the most infamous corporate failures, L. T. San

Creator
Author
Summary
"The book is about the primary symptoms present in a dysfunctional culture that could have devastating outcomes for any organization. The book outlines each of the seven sins in each chapter. Each of the first seven chapters (chapters 1-7) chapter starts with a famous quote related to each of the sins and then immediately recounts stories ripped from the headlines describing well-known corporate failures but with a personal touch from former employees who experienced those stories from inside the company (these sources for these stories are all cited in the References). The seven sins organizational culture are linked with seven different corporate scandals that serve as a "lesson learned" as well as seven stories of organizations that have been successful with each respective organizational attribute as follows: 1. Flawed Mission and Misaligned Values uses WorldCom as the lessons learned and Patagonia as the success case 2. Flawed Incentives uses Wells Fargo as the lesson learned and Bridgeport Financial as the success case 3. Lack of Accountability uses HSBC as the lesson learned and McDonald's as the success case 4. Lack of Transparency uses Theranos as the lesson learned and Zappos as the success case 5 Ineffective Talent Management uses Enron as the lesson learned and Southwest Airlines as the success case 6. Ineffective Risk Management uses the 2008 mortgage industry collapse as the lesson learned and Michael Burry as the success case 7. Ineffective Leadership summarizes all of the foregoing sins as failures of leadership In each chapter and for each organizational sin, the author offers seven attributes of a healthy culture to counter the cultural dysfunction. The seven healthy attributes for each of the seven sins are all original content. In chapter 8, the author offers an approach for assessing an organization's culture by providing seven ways to measure the different drivers of organizational culture. The ideas for how to measure corporate culture is original content, with some references to existing frameworks (all cited in the References). Finally, in chapter 9, the author offers a step-by-step outline for transforming the culture which is all original content from the author. The chapter starts with a story about how Korean Air suffered multiple crashes due to their corporate culture but was able to successfully transform their culture (the source for the Korean Air story is cited in the Reference). There are seven Appendices, most of which are original content from the author with one exception whereby the maturity of risk management references an OECD (government entity) risk management maturity framework"--, Provided by publisher
Table Of Contents
Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Table of Contents -- Preface -- Bibliography -- About the Author -- Introduction -- Chapter 1: Flawed Mission and Misaligned Values -- Lessons Learned: WorldCom -- An Organization's Mission Is Universal or at Least Implicitly Inclusive of All Stakeholders -- An Organization's Mission States What They Do That Makes the World a Better Place -- An Organization's Mission Includes Goals That Inspire Other Companies -- An Organization's Mission Should Be Formally Documented -- An Organization's Mission Should Be Communicated to All Employees and Stakeholders -- An Organization's Strategy Should Support Its Mission -- An Organization's Strategy Should Be Achievable within the Boundaries of Its Values -- Inclusivity -- Collaboration -- Excellence -- Integrity -- Accountability -- Transparency -- Safety -- Success Case: Patagonia -- Bibliography -- Chapter 2: Flawed Incentives -- Lessons Learned: Wells Fargo -- Healthy Attributes: Incentive Compensation -- Incentive Compensation Should Align with the Organizational Values -- Incentive Compensation Structures Should Establish Target Goals That Are Achievable -- Incentive Compensation Structures Should Be Risk-Adjusted -- The Incentives Should Focus On Quality, Not Quantity, or at Least Not Just Quantity -- The "Carrots" and "Sticks" Should Apply to Everyone - No Exceptions -- Incentives Should Avoid Unintended Consequences -- Incentive Compensation Structures Should Be Reevaluated and Revised as Needed -- Success Case: Bridgeport Financial -- Bibliography -- Chapter 3: Lack of Accountability -- Lessons Learned: HSBC -- Healthy Attributes: Accountability -- Organizations Need to Establish Policies -- Organizations Need to Implement Processes to Ensure Compliance with the Policies -- Organizations Need to Identify and Monitor Exceptions
Language
eng
Literary Form
non fiction
Copyright
Edition
1st ed.
Physical Description
1 online resource (143 pages)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781000969009

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