Corporate culture in a new era: Views from the C‐suite *

Abstract

We review a decade's worth of insights from CFOs and CEOs across North America to establish the importance of corporate culture in driving firm value and as a cornerstone of organizational resilience and adaptability in the evolving business landscape. Through extensive surveys and interviews, we unveil how culture, often overshadowed by easier-to-calculate financial metrics, is a critical, intangible asset that influences employee motivation, retention, and ethical behavior. The research underscores culture's role in mergers and acquisitions, risk-taking, and long-term strategic focus, advocating for a deliberate, leadership-driven cultivation of corporate culture. This study not only highlights the necessity for academic and practical reassessment of corporate culture's impact but also calls for a strategic integration of cultural considerations in corporate governance and performance evaluation moving forward.