The preceding description becomes particularly important when corporate culture is defined as the “set of non-material competences” a company has for resisting variability forced on it by changes in the broad market.
Cultural innovation in this sense must refer to a company’s success in coming up with new ways of reinforcing its culture in the face of change.
Because men have shorter lifespans, many older men are interested in having a potential caregiver or a “nurse with a purse.” They tend to marry quicker than older women, but it isn’t because older women can’t find a hubby; it’s because women are more likely to be looking for a short-term relationship or a companion, not a husband.
That isn’t true for my three girlfriends, but it’s true for me.
The Economist Paul Geroski, for instance, studied 440 United Kingdom companies in the period between 19 only to conclude in a 1995 paper that: “…the observed direct effects of innovation on [corporate] performance are relatively small.” And professor Geroski, mind you, was an innovation enthusiast.
There is a tradition dating back at least 3 decades in the Western world that technical innovation on its own is rarely the make or break thing in the competitive advantage of a business. “We’re perpetually fed a line that we’re looking for love in a market that doesn’t value us,” says Marina Adshade, an economics professor in Canada and author of . However, with the gray divorce boom, there are a lot more older people available than ever before. That said, the dating market for older singles isn’t all that easy. There just aren’t that many available singles our age and the ones who are available are an interesting lot (read Anne Lamott’s funny take of her year on to understand).Since organisational culture is by definition very hard to replicate successfully, the richest source of performance advantage is probably cultural innovation.
That is to say, how successful a company is in taking on board superior iterations of a proven cultural advantage over time.
In a detailed review of the state of knowledge in 1986, Professor Jay Barney then of UCLA argued that a strong corporate culture has been shown to be “vital for improving a firm’s financial performance”.