Self-governing organizations and the business benefits they reap don’t spontaneously come into being. Creating and maintaining them requires a strategy. So as a company leader, where should you start? Here’s what we at LRN recommend:
- Challenge your assumptions about governance, culture and leadership. Remember that these are drivers of business performance and that their impact is measurable. Pursue culture as a strategy by measuring it, and then take advantage of its strengths and address opportunities for growth.
- Extend trust throughout your organization and commit to leadership that inspires. Doing this ignites potential because power is not held and wielded from the top down. Rather, it is shared and used to achieve the mission and purpose of the organization through behaviors guided by universally accepted core values and principles.
- Embrace transparency. Understand that in today’s world, very little remains hidden so it is more important now than ever to have nothing to hide. Help your company protect and maintain its good reputation by taking action to ensure that values and behaviors are aligned with purpose and business strategy.
- Stay committed, no matter what. The journey to self-governance is not easy. It requires letting go of control and proceeding into the unknown. This can be uncomfortable, especially in times of tumult and change. Keep going. Be deliberate and relentless in your focus on governance, culture and leadership; and continuously develop and implement strategies designed to shift behavior and thereby improve company performance.
At the end of the day, a company filled with inspired, empowered, self-governing employees who rally around shared principles and values to serve a higher purpose mission – and who have at their fingertips tools and other methods of support by way of their company’s ethics and compliance program and other business processes to help them behave legally, responsibly and ethically under any and all circumstances – will enjoy a position of markedly greater strength in the marketplace, and will be able to sustain and differentiate itself and to pursue significance far more easily, organically and effectively than its competition. Given that these results are real and have been proven, shouldn’t you embark on the journey?
To learn more, download the full whitepaper.