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Is there a link between corporate culture and profit?

In: Management by Missions

Author

Listed:
  • Pablo Cardona
  • Carlos Rey

Abstract

In his well-known book The Human Equation,1 Jeffrey Pfeffer demonstrates, with numbers and logic, that companies can earn much higher profits (more than 30 percent higher) if they adopt management practices that increase people’s commitment and competence. This claim seems to hold true for different types of industries (from steel to semiconductors), for a wide variety of companies (from manufacturing to services), and for diverse business strategies across the cost-differentiation spectrum. As Arie de Geus illustrates in an article, “The Living Company,”2 firms that have survived for more than a century acquire certain common characteristics, which are precisely the ones that have enabled them to adapt to major, even radical, changes in the political, social, and economic environment. One of those characteristics is the ability to build a community of managers and employees who are committed to the company as a long-term venture.

Suggested Citation

  • Pablo Cardona & Carlos Rey, 2008. "Is there a link between corporate culture and profit?," Palgrave Macmillan Books, in: Management by Missions, chapter 1, pages 3-21, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59894-2_1
    DOI: 10.1057/9780230598942_1
    as

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