Management consulting firm McKinsey & Company has highlighted the importance and value of culture.43 The firm, through a survey of hundreds of companies in North America, Europe, and Asia, found 66.7 percent of business leaders felt culture provided their greatest source of competitive advantage. In addition, McKinsey & Company found that companies with effective organizational culture outperformed peers significantly. In fact, those companies with high-performing cultures delivered significant performance improvement, 300 percent higher annual returns to shareholders than companies with
...more
