ICDM Members' Day #3/2021: Organisational Culture

George Mallory became famous over the mystery as to whether he was the first man to summit Mount Everest. He was last seen in 1924 (Sir Edmund Hillary reached the summit in 1953) and just 245m from the summit when he disappeared. Although his body was found 75 years later, the mystery was never solved. 

But perhaps Mallory is more known for his memorable response to the question “Why did you want to climb Mount Everest?” “Because it’s there” has been called the most famous three words in mountaineering. The tone at the top was clear to George Mallory. 

The Malaysian Code on Corporate Governance 2021 has set the tone at the top for companies to “think seriously about the reasons for their existence, how they deliver on their purpose.” The purpose is the ‘why’ and a commitment to ‘what it is there to do’. 

This ICDM Members’ Day will kick off with a presentation on how Boards can articulate their corporate purpose and not just a catchy slogan. By stating a purpose, it sets a clear vision and direction for everyone involved. A properly defined purpose influences the right values, which in turn shapes culture and drives strategy. What is your ‘why’? 

The presentation will be followed by a panel discussion to debate the following questions:

• How do you determine if a purpose is a good purpose?
• Isn’t the purpose of companies to deliver profits to shareholders?
• Why are values often called “values on the wall”?
• How do you deliver on the corporate purpose?
• If a company’s culture is toxic, is the solution to change the corporate purpose?