Corporate Culture and the Role of Boards
The way companies create and sustain value is directly linked to the debate about the role of business in society. There needs to be a concerted effort to improve trust in the motivations and integrity of business. Rules and sanctions clearly have their place, but will not on their own deliver productive behaviours over the long-term.
The FRC embarked on the culture coalition project to gain a better understanding of how boards are currently addressing culture, to encourage discussion and debate, and to identify and share good practice to help companies. We published a report on our findings in July 2016 which sought to address how boards and executive management could steer corporate behaviour to create a culture that will deliver sustainable good performance. The report covers the increasing importance which corporate culture plays in delivering long-term business and economic success and on the role of the board in shaping, monitoring and overseeing culture.