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Grow your business with the right company culture

A growing business must focus on things like marketplace demand, customer service, and sales margins, to name a few. However, executives should also take care to foster a strong company culture that will help ensure business success.

Company culture is the personality of your company. It sets the tone for the work environment, expectations, and goals.

In an article for the Harvard Business Review, Frances Frei and Anne Morris state, “Culture guides discretionary behavior and it picks up where the employee handbook leaves off. Culture tells us how to respond to an unprecedented service request.

It tells us whether to risk telling our bosses about our new ideas, and whether to surface or hide problems. Employees make hundreds of decisions on their own every day, and culture is our guide. Culture tells us what to do when the CEO isn’t in the room, which is of course most of the time.” This may be why low employee morale is often the first symptom of an unhealthy company.

When employees aren’t engaged or inspired, a job is just a paycheck. But when a business has a solid company culture, staff look forward to coming to work; they embrace new opportunities, and become invested in the company’s success. In today’s blog we’ll explore ways to promote your company culture.

Accepting failure and learning from mistakes

Begin to promote a winning company culture by adopting a policy that accepts mistakes. We all learn through trial error and mistakes are a learning tool that can guide success. For instance, a new sales strategy is less successful than a previous strategy. This failure or mistake is actually an opportunity to glean important information about your customers’ values.

 However, when we use punishment or criticism to handle mistakes, we only foster a culture of fear. When employees are afraid to make mistakes, they will no longer take risks.  This is why Richard Branson, the founder of Virgin, encourages praise over criticism. He says, “When people receive genuine praise, their doubt diminishes and their spirits soar.”

This is because when people are praised, they experience success. When people experience success, they learn to succeed.  It is important to encourage a culture of praise between teams, as well.  When teams experience praise from each other for their accomplishments, bonds are created and they want to lift each other up and achieve goals together. 

NB! This is an excerpt from a recent blog. To read the full article click here.

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