John Cameron's personal blog

Serious discussion about your financial position now - and in the future.

The Culture Wars Continue

Once again, the Commonwealth Bank is in the firing line. This time it is under a cloud for, allegedly, not meeting its obligations to report suspicious financial transactions – and the press is having a field day.

Foremost among their comments/analysis/hysterics (pick your own descriptor) is the conclusion that the CBA has a poor culture, and they need a better one. Well, call me pedantic, but I think that qualifies as nothing more than a giant SBO (Statement of the Bleeding Obvious), and a solution needs more than endless SBO’s, but some deeper analysis.

Firstly, what is culture? In this context it should refer to the values that drive expected norms of behaviour – that is, how are people expected to behave, as dictated by beliefs and values of the workforce. If somebody does the wrong thing, they will be pulled up by their peers, not just by the managers. It cannot be captured in policy procedures, memoranda, protocols etc.

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