There is a history of corporate scandal and misdeeds in the country, including in Oregon. When such events come to the public eye, legislative reform often follows. Witness the rash of new legislation to accompany the real estate bust in 2008. Such laws may address the activities and mandates of business formation, business operations and other categories.
Due to the crisis in morality that has been revealed within the core of many business entities, other broad changes are occurring in the corporate landscape. For example, corporate governance generally becomes more democratic and participatory as major changes manifest. With a greater reliance on the group perspective provided by today’s boards of directors, there is also a growing awareness that the company has a unique corporate culture.
The great public outcry against both big business leaders and politicians, which is largely based on the bold arrogance shown by many in those groups, has led to changes in corporate structures and attitudes. Companies now strive to find and develop the purpose and genetic identity that will in turn define the corporate culture of the enterprise. A lack of moral perspective was missing in the past, leading companies today to seek to identify and plot out the core meaning of their corporate culture.
In the past, Boards were inclined toward the technical performance of their occupational assignments. The board of directors in companies throughout the nation, including here in Oregon, were generally not involved in a company’s culture. The trend is now directed toward bringing into sync a company’s business model and its corporate culture so that the two can achieve a real impact and create a social footprint. The development of a true social footprint at the business formation and operational levels creates a corporate culture seen in many of the country’s most successful companies. It is the employees’ shared sense of purpose that they are delivering a product or service that makes a difference, giving them a unique motivation that is vital to long-term success.