The Dialogue: Building Adaptive Capacity – Individuals, Groups and Society
The Actuaries Institute released their seventh paper in its thought leadership series *The Dialogue – leading the conversation.
In this paper, Andrew Brown, Adaptive Cultures director, warns that the cultural failings identified in the Royal Commission into Australia’s finance institutions will continue unless there is a holistic approach to evolving better corporate culture.
Andrew said findings from the Royal Commission, and the 2018 report from APRA into the Commonwealth Bank, demonstrated where poor culture had severely impacted organisations.
Andrew also said organisations tend to stumble when people focus on processes rather than hold themselves accountable for outcomes, and he discussed key requirements for building adaptive organisations to avoid such problems.
Andrew Brown in conversation with John McLenaghan from the HQ Public Policy team discuss questions like:
- What factors cause venerable public and private institutions to fall from grace?
- Does culture have to come from the top?
- Can boards and management really transform culture in large organisations with tens of thousands of employees? How long should it take?
- Are there generational factors to consider when attempting to make organisations more adaptive?
- What role do regulators have to play in changing board cultures?