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Leading world business culture transformation expert, Mr. Dave Eaton has revealed seven critical business dimensions that either shape in or shape out business from existence over time.
Speaking at the Nigerian Stock Exchange (NSE) as guest at a training co-sponsored by NSE, Axa Insurance, Seevest and Bovas, he listed power, perspective, creativity, time, independence, communications and inclusion as the 7 dimensions that define the future of every business in the world.
According to him, “The Lucky 7 Culture Survey is expected to amplify the collective voice of those within an organisation in the journey to achieving higher operational excellence.”
Eaton further highlighted the critical role of inclusion and strong corporate governance in framing, cascading and aligning the corporate culture with the business objectives of an organisation for the future.
Earlier in his remarks, the Head of Shared Services Division at NSE, Mr. Bola Adeeko, stressed the importance of strong corporate governance practices in building organizational culture amongst issuers.
He said the business culture training organized by SmithsWorks Limited tagged; ‘A Live Session with David Eaton’ remains a key need for every business to understand for growth.
According to him, “In today’s accelerating world of work, organisational culture has been identified as critical to the success of an organisation. This is as a result of the need to adapt to evolving external forces, achieve internal integration and deliver on an organisation’s strategic objectives. In our experience, maintaining this intricate balance between internal and external forces in any organization can only be achieved through strong corporate governance practices. The NSE in its role as regulator and thought leader, therefore, provides various directives and initiatives that help drive the adoption of these practices among issuers.”
One of such initiatives is the NSE’s partnership with the Convention on Business Integrity (CBi) to launch Nigeria’s foremost framework for ranking companies on issues related to corporate governance, the Corporate Governance Rating System (CGRS), in 2014. This rating system was designed to rate companies listed on the NSE based on their corporate governance and anti-corruption posture, thereby improving the overall level of confidence and trust in Nigeria’s capital markets and business practices.
Defined as a set of basic values, perceptions, wants and behaviours learnt by a group of people within an ecosystem, organisational culture is of utmost importance in enhancing performance, promoting teamwork and achieving the organisation’s strategic aspirations. With benefits ranging from greater share-price increases, lower employee turnover, more employment applications, less absenteeism, greater employee productivity and greater customer satisfaction levels, it has been proven that culture can improve and sustain corporate performance.
In attendance were senior Human Resources Managers, Talent Management Practitioners, Corporate Culture Shapers and Business Leaders across industries.
The event had the Honourable Commissioner, Lagos State Ministry of Establishments, Training and Pensions, Mrs. Ajibola Ponnle, as the Special Guest of Honour.