Contrary to press-propagated blames on rapid industry changes, unforeseen circumstances and uncontrollable crises, most business failures boil down to poor corporate culture. Interestingly, how corporate culture is perceived has changed just as rapidly as industries have evolved in recent times.
In the 20th and early 21st centuries, assessment of corporate culture focused almost entirely on how businesses treated their customers. For instance, the dent in Blackberry’s culture was caused by the company prioritizing its smartphone technology over customers’ needs. Meanwhile, how customers interact with technology was changing.