If culture is the DNA of a company, then a strong market culture is the DNA of a profitable company
Past News ReleasesRSS
San Francisco, CA (PRWEB) June 25, 2009
Based on the premise that a strong market culture is the key to a high performing business, international consulting firm MarketCulture Strategies has developed the MarketCulture Benchmark (MCB) tool to measure the key cultural elements of an organization and the resulting influence on business and financial performance.
"If culture is the DNA of a company, then a strong market culture is the DNA of a profitable company," said MarketCulture CEO Chris Brown. "What we've developed is a powerful intervention tool that enables CEOs to measure, understand, and improve the most important elements of culture to build sustainable competitive advantage."
The development of the tool involved researching over 100 peer-reviewed studies to understand the correlation between a firm's market orientation and its business performance. Following that, the pilot MCB instrument was administered to over 800 professionals employed in a variety of countries, industries and companies.
"Many of our current and past clients participated in the pilot studies," said Brown. "The critical question was: What type of business culture drives the best market performance? Results showed that a firm's performance on the chosen cultural elements predicted the firm's performance in the market with a strong link to the bottom line."
Though culture is often considered somewhat intangible, as in 'the way we do things around here', Brown says the new survey tool breaks culture down into distinct critical elements directly linked to sustainable competitive advantage and key business metrics such as profitability and growth.
The MCB is a web-based employee survey that benchmarks employee behaviors within the business and requires less than 15 minutes to complete. The company's performance on the MCB is highly correlated with its future business performance.
The results of the survey are presented as a graphic that clearly illustrates the firm's market culture strengths and weaknesses, as well as the direct links between each of the cultural elements and the performance metrics. Because the MCB is a benchmarking tool, the firm's performance is also reported as a percentage relative to the companies in the database.
"The tool allows the company to measure and manage culture. The results can be used to validate existing positive cultural norms and to drive necessary changes for performance improvement," said Brown.
Headquartered in Silicon Valley, California, MarketCulture Strategies has helped build world-class, market-oriented corporate cultures and business skill sets for some of the world's largest global firms in the telecommunications, retail and high tech industries.
Organizations that are interested in knowing more about the key cultural elements can contact MarketCulture to receive (at no charge) a report on the research results. To learn more about market culture, please visit http://www.MarketCulture.com, call 1-(800)-817-8582 or e-mail info (at) marketculture (dot) com
# # #