The biggest self-deception of companies

Culture “is not a slogan hanging on the wall,” but rather “the invisible structure, the imaginary scaffolding that supports — or collapses — everything else,” warns business school professor Pablo Foncillas. However, only 20% of directors believe that the governing bodies of companies really take it seriously.

The professor stresses that incentives are essential in shaping corporate culture, not only through monetary bonuses, but also in everyday decisions such as office allocation or teleworking. Although more than half of directors, according to a study, recognise the positive impact that a good culture can have on business performance, there is a notable disconnect between knowledge and action.