Why should you care about the culture of the firms that provide your advisory practice’s technology? As long as your tech stack does what you need it to do, everything else is immaterial, right?
Culture misalignment can have real consequences for businesses. Consider the recent, highly-publicized cancellation of TV show remake, “Roseanne.”
How do you think Disney-owned ABC execs, who once lauded the show’s honest portrayal of the realities of today’s divisive political climate, felt about their reboot after Roseanne’s tweets?
It would seem ABC gravely misread the culture of its audience and underestimated the show’s predictably outspoken and controversial namesake, whose real-life reflection of her character’s bigotry struck a not-so-pleasant chord with the network’s viewers and employees. The ordeal likely cost the network millions more in lost earnings.
The takeaway for businesses across all industries? It literally pays to think of your partners as an extension of your own team.
Firms seldom pull the trigger on a high-level hire without first vetting them for cultural fit. Tech partners should be evaluated in the same way.
While your firm may not be screening for political convictions, you should consider, simply put, how vendors approach their product (aka their development priorities) and how they approach their people (aka their reputation for building strong relationships). In both cases, seeking a partner who shares similar organizational values will be a key indicator for a successful relationship.
This full article is published on FinancialPlanning.com. Read more of Eric’s thoughts on why you and your technology partners need to evolve in the same direction toward a shared vision for the future.