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As organizations make the shift from the business-as-usual model of exploiting people and the planet to the Next Economy model that works for the benefit of all life, it’s important to reflect on the principles that allow for a smooth (and successful) transition.
In this episode of the MBA series, we look at culture, values, and the importance of teams. LIFT Economy Worker-Owners Phoenix Soleil and Kevin Bayuk share their definitions of culture and the significance it holds for them, and their vision of the next economy. We discover the role of values in distilling culture and the process of arriving at shared values within an organization, as well as what’s required to build a high-performing, accountable, and diverse team.
Not only does this episode break down the critical success factors and failure points of organizations transitioning into the next economy, but explores the complexity of compensation and the role diversity plays in supporting innovation. Tune in to be inspired to create a new, inclusive model for your organization!
Key Points From Culture Pt. 1:
- Defining culture and its importance. [0:03:09]
- The critical success factors and failure points of organizations transitioning into the next economy. [0:06:12]
- How diversity supports innovation. [0:09:30]
- The role of values in distilling culture. [0:11:21]
- The process of arriving at shared values in a group. [0:16:08]
- The complexity of compensation. [0:21:06]
- Building a team: from recruitment to performance enhancement and accountability in the workplace. [0:31:26]
“When you know the things that work in your culture and the things that don’t work, and you can articulate and discuss it, then you can have more power.” — Phoenix Soleil [0:04:47]
“The inattention to culture because business as usual typically marginalizes it shows up as one of the key factors that can lead to an organization having too much internal friction.” — Kevin Bayuk [0:06:32]
“If you care about being innovative [and] creative, and problem solving, diversity supports that.” — Phoenix Soleil [0:09:36]
“If you are a company that wants to be innovative, you have to be paying attention to culture.” — Phoenix Soleil [0:10:20]
“Values can be a way of being able to distill the company’s culture.” — Phoenix Soleil [0:11:21]
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Next Economy MBA
This episode is brought to you by the Next Economy MBA.
What would a business education look like if it was completely redesigned for the benefit of all life? This is why the team at LIFT Economy created the Next Economy MBA (https://lifteconomy.com/mba).
The Next Economy MBA is a nine-month online course for folks who want to learn key business fundamentals (e.g., vision, culture, strategy, and operations) from an equitable, inclusive, and regenerative perspective.
Join the growing network of 350+ alumni who have been exposed to new solutions, learned essential business skills, and joined a lifelong peer group that is catalyzing a global shift towards an economy that works for all life.
Learn more at https://lifteconomy.com/mba.
Show Notes + Other Links
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