A sound culture reflecting organisational strategy and values is a key driver for both financial and operational success and, influences ethical behaviour. It drives innovation, attracts talent, and protects the brand.
Boards and audit committees are increasingly having to examine and assess the concept of culture and if it supports their strategy and mandate. Executive management teams are examining what aspects of the culture they should change and how.
This is particularly pertinent in the current environment and through periods of change as it can highlight both successes to be replicated and recommendations to address areas of divergence.
As a result, many HR and internal audit functions are being asked to conduct a review or audit of their organisational culture. Many are not sure where they should start.
How can Mazars help
Mazars has created an award-winning tool called the ‘Mazars Culture Compass’ which measures cultural alignment throughout an organisation.
It uses a proprietary six-dimensional framework to examine culture. Within each of the six dimensions, there are 5 variables (either a trigger or a response) that serve as the basis for our analysis.
By exploring these six dimensions and the 30 variables across them, it allows us to examine the Culture that is present in the organisation.
With societal expectations increasingly permeating corporate governance, companies need to evolve their business models to embrace lasting value creation that benefits not only the shareholders but also internal and external stakeholders as well as wider society.