There is nothing more important than the culture of a business. A strong culture is not only a powerful magnet for talent; it is also the single biggest driver of long-term business partnerships. This was proven by a new global research study conducted by the FORTUNE Knowledge Group in collaboration with gyro.
Of the executives surveyed, 81% said companies that are successful at building long-term relationships make a direct correlation between what they believe in and the way they do business.
Another telling finding was that 68% of more than 500 respondents surveyed said it’s worth making short-term financial sacrifices to cultivate long-term relationships.
That is why a company’s purpose and values need to shine brightly. The transparent social media world can see everything about your business. Your culture must be authentic and focused. There is no pretending anymore.
The clearest way to succeed at this is to look at what your company was born to do. What was the pure idea that started it all? This must be the foundation of your culture. 80% of respondents said that the biggest idea is often the one on which their companies were built.
Once you reveal this true essence, you need to share it and celebrate it with both your employees and customers. This is where the human relevance lives. Your essence, values and culture must be nurtured and elevated non-stop.
These are the crucial aspects of your business that lead to motivated employees, satisfied customers and the long-term relationships that are the lifeblood of every successful global business.
Christoph Becker is CEO and CCO at gyro
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