Creating Corporate Cultures Through Mythopoetic Leadership

Abstract:     
An unambiguous and enduring principle pervades many entrepreneurial firms, start-up firms, and firms where founders leave a deep imprint. It's called mythopoetic leadership. While having roots in myth, storytelling, and the teachings of Joseph Campbell, you'll know it when you see it. In an increasingly systematized, financially-driven world of business, this type of leadership can inspire fellow employees and managers to achieve great things personally and professionally. In "Creating Cultures Through Mythopoetic Leadership" Organizational Behavior Professor John Slocum of SMU Cox and co-author Chip Jarnagin reveal answers to age-old questions about how to inspire others and keep the embers of values burning within an organization.

Companies spend untold millions trying to understand and change their culture. In the end, culture, if not heeded, can doom mergers: 90% of acquisitions don't live up to their expectations due commonly to culture clashes. Slocum relayed, "Culture is the glue that makes the implementation of strategy work. Firm's are overly focused on financials rather than determining whether a strategy will work given a particular corporate culture." Lack of understanding culture can wreck careers - Carly Fiorina hit the wall of culture at HP. Today's financial performance model is creating an environment where a CEOs average tenure is 3.8 years. According to Slocum, "Creating an enduring culture of this type requires time to do it right or in a way that makes a difference."

Keywords: corporate culture, mythopoetic leadership, reward systems, myths

Working Paper Series