Topic VI: Creative Confidence

Creative Confidence: Why is Culture Important?

Julian Ong

 You've always wondered why some companies are thriving while others fail? The answer might lie in something less tangible than a brilliant product or strategic marketing - company culture. A healthy culture, which is essential for innovation and sustained success, encourages a favourable environment for creative confidence.

Think about it this way: culture is the foundation upon which a company builds its strategy. As Peter Drucker famously said, "Culture eats strategy for breakfast". A company's values become operationalized through its culture, guiding employee decisions and interactions (Levine, 2014). This translates into a workforce that feels empowered to take risks, experiment, and ultimately, create.

On the flip side, a weak culture can stifle creativity. Take the cautionary tale of a Texas distillery, where a clash between the founder's vision and investor expectations resulted in a decline in morale and ultimately, the company's demise (Abelson & McMillan, 2014). This exemplifies the challenges new investors can bring, especially if they don't align with the company's core values.

 In the area of large investments, Facebook's acquisition of WhatsApp for $19 billion in 2014 has raised a lot of eyebrows. Some wondered if the price was justified when WhatsApp had a huge user base. Here, culture might have played a role. Facebook's focus on advertising revenue clashed with WhatsApp's commitment to user privacy. This potential misalignment could lead to difficulties integrating the two companies and maximizing the return on investment (WSJ, 2014).

 Finally, the key ingredient to sustainability of success is company culture. It's empowering its employees, encouraging innovation and attracting the correct type of investors. Companies are capable of building a strong foundation for creative confidence through prioritising culture, which allows them to cope with the constantly evolving business climate.


References: 

Abelson, M., & McMillan, D. (2014, December 28). How Dreams and Money Didn't Mix at a Texas Distillery [Newspaper article]. The New York Times.

Levine, P. (2014). Culture eats strategy for breakfast. TechCrunch. https://techcrunch.com/2014/04/12/culture-eats-strategy-for-breakfast/

Wall Street Journal. (2014, December 28). [Facebook Said to Be Near $19 Billion Deal for WhatsApp] (WSJ). https://www.wsj.com/articles/facebook-to-buy-whatsapp-for-16-billion-1392847766

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