Keller Williams is the largest real estate franchise in the world with over 139,000 agents. It attributes much of its success to its strong company culture. The study surveyed Keller Williams agents and found an exceptionally strong culture across market centers that emphasizes ethics, collaboration, and caring for agents. Agents view the culture very positively and as more important than compensation or training for the company's success. However, the study could not find a direct relationship between strong cultural perceptions and higher market center profits, likely because cultural perceptions were already very positive across centers.
STANFORD CLOSER LOOK SERIES
Sign up to receive the latest research that explores topics, issues, and controversies in corporate governance: corpgovemail.com
The current economic crisis will impact home and retirement account values for years to come, but where it may have the biggest impact is in corporate reputations, where even the most respected brands in the financial services world have seen trust for their leadership and institutions drop to all time lows.
• Chief executives are now thinking strategically about international business ethics—specifically, how trustworthy their companies need to be. To generate that trust, CEOs are not just interested in growth for their enterprises. They want to attain “good growth”: real, inclusive, responsible, and lasting growth. And they want their companies to contribute to good growth in every country where they operate.
Authors: David F. Larcker and Brian Tayan, Stanford Closer Look Series, November 25, 2019
Among the controversies in corporate governance, perhaps none is more heated or widely debated across society than that of CEO pay. The views that American citizens have on CEO pay is centrally important because public opinion influences political decisions that shape tax, economic, and regulatory policy, and ultimately determine the standard of living of average Americans. This Closer Look reviews survey data of the American public to understand their views on compensation. We ask:
• How can society’s understanding of pay and value creation be improved and the controversy over CEO pay resolved?
• How should the level of CEO pay rise with complexity and profitability, particularly among America’s largest corporations?
• Should pay be reformed in the boardroom, or should high pay be addressed solely through the tax code?
• Are negative views of CEO pay driven by broad skepticism and lack of esteem for CEOs? Or do high pay levels themselves contribute to low regard for CEOs?
Startup | the impact of CEOs achieving superstar status on the performance of...Massimiliano Caruso
If you're a Chief Executive Officer, your job is to execute. What does it mean, in terms of daily tasks, to be the company’s top “executer”?
Many of the companies that surmount the challenges of growth have maintained attitudes most commonly found in young companies. What is the “FOUNDER’S MENTALITY”?
In sports, the “Sports Illustrated Jinx” is believed to affect athletes who appear on the cover of Sports Illustrated and in the entertainment industry, the term “Sophomore Jinx” refers to successful new performers who do not live up to the quality of their debuts. What is the “CEO Disease” and how is it related to CEOs achieving the SUPERSTAR STATUS?
STANFORD CLOSER LOOK SERIES
Sign up to receive the latest research that explores topics, issues, and controversies in corporate governance: corpgovemail.com
The current economic crisis will impact home and retirement account values for years to come, but where it may have the biggest impact is in corporate reputations, where even the most respected brands in the financial services world have seen trust for their leadership and institutions drop to all time lows.
• Chief executives are now thinking strategically about international business ethics—specifically, how trustworthy their companies need to be. To generate that trust, CEOs are not just interested in growth for their enterprises. They want to attain “good growth”: real, inclusive, responsible, and lasting growth. And they want their companies to contribute to good growth in every country where they operate.
Authors: David F. Larcker and Brian Tayan, Stanford Closer Look Series, November 25, 2019
Among the controversies in corporate governance, perhaps none is more heated or widely debated across society than that of CEO pay. The views that American citizens have on CEO pay is centrally important because public opinion influences political decisions that shape tax, economic, and regulatory policy, and ultimately determine the standard of living of average Americans. This Closer Look reviews survey data of the American public to understand their views on compensation. We ask:
• How can society’s understanding of pay and value creation be improved and the controversy over CEO pay resolved?
• How should the level of CEO pay rise with complexity and profitability, particularly among America’s largest corporations?
• Should pay be reformed in the boardroom, or should high pay be addressed solely through the tax code?
• Are negative views of CEO pay driven by broad skepticism and lack of esteem for CEOs? Or do high pay levels themselves contribute to low regard for CEOs?
Startup | the impact of CEOs achieving superstar status on the performance of...Massimiliano Caruso
If you're a Chief Executive Officer, your job is to execute. What does it mean, in terms of daily tasks, to be the company’s top “executer”?
Many of the companies that surmount the challenges of growth have maintained attitudes most commonly found in young companies. What is the “FOUNDER’S MENTALITY”?
In sports, the “Sports Illustrated Jinx” is believed to affect athletes who appear on the cover of Sports Illustrated and in the entertainment industry, the term “Sophomore Jinx” refers to successful new performers who do not live up to the quality of their debuts. What is the “CEO Disease” and how is it related to CEOs achieving the SUPERSTAR STATUS?
Cascade Capital Corporation honored #TeamMIELKE with two awards at the 2017 Business Growth Awards Akron/Canton. The Business Growth Awards recognize and honor businesses from our seven-county region that have achieved superior growth in sales and/or employment over the past five years.*
Congratulations to all the 2017 Honorees!
* Business must be located in Summit, Medina, Stark, Portage, Wayne, Ashland or Holmes counties to participate.
The Value of Women is our report on the financial case for investing in companies with women in senior management and Board positions. It also examines the importance of philanthropy focused on providing opportunity for women to impact their communities.
Investment in women is highly impactful. It is a key indicator for higher investment performance for investors.
A CEO is ultimately responsible for the growth of a company as evidenced by its financial performance, its capacity for self-renewal, and its character. The only way you can measure character is by reputation.
The CS Gender 3000: Women in Senior ManagementCredit Suisse
Greater gender diversity in companies' management improves their financial performance. A new Credit Suisse Research Institute study presents the financial evidence, looks at which regions and sectors show higher diversity levels and analyzes the obstacles to female participation in the workplace.
To download a copy of 'CS Gender 3000: Women in Senior Management', click here: http://bit.ly/1cWMUIM
Do you want to be a billionaire by @EricPesikEric Pesik
Billionaires are members of the most elite group of people in the world. To join the billionaire club, you must be one in three million. The good news is - if you want to join this elite club, its membership is growing. According to the Wealth-X and UBS Billionaire Census 2014, the world’s population of billionaires increased 7% last year to reach a record high of 2,325 billionaires.
Do you have what it takes to become a billionaire?
Administrated by Lee Ellis' consulting company, Leadership Freedom LLC, the purpose of this survey was to identify and compile consumer input and opinion on the general state of leadership from their personal perspective. It contained nine objective questions about the state of leadership in the following major industry sectors: Business/Corporate, Government/Politics, Military, Healthcare, and Education.
While the actual societal reality may differ slightly from the results of this survey, it does confirm consumer sentiment based on their exposure of leaders and leadership issues within their personal reality. See the results, and compare them against your leadership perspective.
Today’s society has made hiring military veterans nearly an act of benevolence or sometimes even of charity. But the real focus should be on why it’s highly beneficial to hire top caliber military candidates, how they can add tremendous value to your organization, and how the skills sets they bring can drive your business objectives and improve your profits. While many employers look at hiring military personnel as an act of patriotism, the bottom line is that recruiting veterans is a smart business move.
Cascade Capital Corporation honored #TeamMIELKE with two awards at the 2017 Business Growth Awards Akron/Canton. The Business Growth Awards recognize and honor businesses from our seven-county region that have achieved superior growth in sales and/or employment over the past five years.*
Congratulations to all the 2017 Honorees!
* Business must be located in Summit, Medina, Stark, Portage, Wayne, Ashland or Holmes counties to participate.
The Value of Women is our report on the financial case for investing in companies with women in senior management and Board positions. It also examines the importance of philanthropy focused on providing opportunity for women to impact their communities.
Investment in women is highly impactful. It is a key indicator for higher investment performance for investors.
A CEO is ultimately responsible for the growth of a company as evidenced by its financial performance, its capacity for self-renewal, and its character. The only way you can measure character is by reputation.
The CS Gender 3000: Women in Senior ManagementCredit Suisse
Greater gender diversity in companies' management improves their financial performance. A new Credit Suisse Research Institute study presents the financial evidence, looks at which regions and sectors show higher diversity levels and analyzes the obstacles to female participation in the workplace.
To download a copy of 'CS Gender 3000: Women in Senior Management', click here: http://bit.ly/1cWMUIM
Do you want to be a billionaire by @EricPesikEric Pesik
Billionaires are members of the most elite group of people in the world. To join the billionaire club, you must be one in three million. The good news is - if you want to join this elite club, its membership is growing. According to the Wealth-X and UBS Billionaire Census 2014, the world’s population of billionaires increased 7% last year to reach a record high of 2,325 billionaires.
Do you have what it takes to become a billionaire?
Administrated by Lee Ellis' consulting company, Leadership Freedom LLC, the purpose of this survey was to identify and compile consumer input and opinion on the general state of leadership from their personal perspective. It contained nine objective questions about the state of leadership in the following major industry sectors: Business/Corporate, Government/Politics, Military, Healthcare, and Education.
While the actual societal reality may differ slightly from the results of this survey, it does confirm consumer sentiment based on their exposure of leaders and leadership issues within their personal reality. See the results, and compare them against your leadership perspective.
Today’s society has made hiring military veterans nearly an act of benevolence or sometimes even of charity. But the real focus should be on why it’s highly beneficial to hire top caliber military candidates, how they can add tremendous value to your organization, and how the skills sets they bring can drive your business objectives and improve your profits. While many employers look at hiring military personnel as an act of patriotism, the bottom line is that recruiting veterans is a smart business move.
Bài giảng thông tin di động là một học phần rất hay trong chương trình đào tạo kĩ sư điện tử viễn thông, đây là một môn học quan trọng nhất đối với bất kỳ một kỹ sư điện tử nào. Người học sẽ không bị nhàm chán bởi những nội dung trong bài giảng bởi đó là những kiến thức mà bất kỳ một sinh viên ngành ĐTVT nào cũng cần có lời giải đáp.
http://giaotrinh247.blogspot.com/
Lei que regulamenta a obrigatoriedade de se prestar as informações relativas (tributos, taxas, alienação, multas, etc.) a venda apar o consumidor de veículos.
வெற்றி = பணம் என்று வாதத்திற்கு ஒப்புக் கொண்டால்
அந்த பணத்தை அடைய CASH என்பதிற்கு பதிலாக KASH என்பதை
நீங்கள் வளர்த்தல் வேண்டும்.
அது என்ன KASH ?
K = KNOWLEDGE = அறிவு
A = ATTITUDE = மனப்பான்மை
S = SKILL = திறமை
H = HABIT = பழக்கம்
இவை தான் உங்கள் வெற்றியை தீர்மானிக்கும் .
ஏன்? எதற்கு? எங்கே? எப்பொழுது?
ஏன்?
உங்கள் வியாபார வளர்சிக்கு தேவையான தொழில் வளக்கலை.
எதற்கு?
1.விற்பனை அதிகரிக்க.....
2.மார்க்கெட்டிங் துறை சார்ந்த அனைத்து பிரச்சனைகளுக்கும் சரியான வழிகாட்டுதல்.
3.புதிய தயாரிப்புகளை சந்தைபடுத்த தேவையான ட்ரைனிங் .......
4.உங்கள் தயாரிப்புகளுக்கு தனி ப்ரண்ட் அங்கிகாரம் பெற தேவையான ட்ரைனிங் ....
5.ஸ்டார்ட் அப் தொழில் அமைப்புகளுக்கு தங்கள் தயாரிப்புகள் மார்க்கெட்டிங் செய்ய தேவையான அனைத்து மார்க்கெட்டிங் ட்ரைனிங் நாங்கள் உங்களுக்கு தருகிறோம்.
மனிதவளத்துறை சார்ந்த வழிகாட்டுதல்.
செயல் திறன் மேம்பாடு ஒன்று மட்டுமே உங்கள் தொழில் வெற்றிக்கு வழிவகுக்கும்.
1. நீங்கள் யார் உங்களுக்குள் இருக்கும் பிரச்சனைகளுக்கு சரியானவழிகாட்டுதல்.
2.உங்கள் முடிவு எடுக்கும் முறை ஒழுங்குபடுத்த
3.உங்கள் தாழ்வு மனப்பான்மை மாற
4.உங்கள் வியாபார வெற்றிக்கு தேவையான அனைத்து ட்ரைனிங் எங்களிடம் உள்ளது.
எங்கே?
உங்களுக்கா உங்களிடத்தில்.
எப்பொழுது?
உங்கள் வெற்றிக்கான நாளை நீங்களே தீர்மானியுங்கள்.
நாளைய அறிவு இன்றய வெற்றி.
அணுகவும்
கௌசிகா கன்சல்டண்சி ர.ராஜாராம் - 9865118262
kowshikaa2009@gmail.com
வெற்றி = பணம் என்று வாதத்திற்கு ஒப்புக் கொண்டால்
அந்த பணத்தை அடைய CASH என்பதிற்கு பதிலாக KASH என்பதை
நீங்கள் வளர்த்தல் வேண்டும்.
அது என்ன KASH ?
K = KNOWLEDGE = அறிவு
A = ATTITUDE = மனப்பான்மை
S = SKILL = திறமை
H = HABIT = பழக்கம்
இவை தான் உங்கள் வெற்றியை தீர்மானிக்கும் .
ஏன்? எதற்கு? எங்கே? எப்பொழுது?
ஏன்?
உங்கள் வியாபார வளர்சிக்கு தேவையான தொழில் வளக்கலை.
எதற்கு?
1.விற்பனை அதிகரிக்க.....
2.மார்க்கெட்டிங் துறை சார்ந்த அனைத்து பிரச்சனைகளுக்கும் சரியான வழிகாட்டுதல்.
3.புதிய தயாரிப்புகளை சந்தைபடுத்த தேவையான ட்ரைனிங் .......
4.உங்கள் தயாரிப்புகளுக்கு தனி ப்ரண்ட் அங்கிகாரம் பெற தேவையான ட்ரைனிங் ....
5.ஸ்டார்ட் அப் தொழில் அமைப்புகளுக்கு தங்கள் தயாரிப்புகள் மார்க்கெட்டிங் செய்ய தேவையான அனைத்து மார்க்கெட்டிங் ட்ரைனிங் நாங்கள் உங்களுக்கு தருகிறோம்.
மனிதவளத்துறை சார்ந்த வழிகாட்டுதல்.
செயல் திறன் மேம்பாடு ஒன்று மட்டுமே உங்கள் தொழில் வெற்றிக்கு வழிவகுக்கும்.
1. நீங்கள் யார் உங்களுக்குள் இருக்கும் பிரச்சனைகளுக்கு சரியானவழிகாட்டுதல்.
2.உங்கள் முடிவு எடுக்கும் முறை ஒழுங்குபடுத்த
3.உங்கள் தாழ்வு மனப்பான்மை மாற
4.உங்கள் வியாபார வெற்றிக்கு தேவையான அனைத்து ட்ரைனிங் எங்களிடம் உள்ளது.
எங்கே?
உங்களுக்கா உங்களிடத்தில்.
எப்பொழுது?
உங்கள் வெற்றிக்கான நாளை நீங்களே தீர்மானியுங்கள்.
நாளைய அறிவு இன்றய வெற்றி.
அணுகவும்
கௌசிகா கன்சல்டண்சி ர.ராஜாராம் - 9865118262
kowshikaa2009@gmail.com
Why Volunteering Programs are no longer just for Large CompaniesGaurav Bhattacharya
Employee Volunteer Programs are no longer only for large companies!
With the latest generation of cloud-based solutions, any sized company can now afford a great employee volunteering platform.
You company culture is a powerful competitive advantage. Learn from Stanford professor, Charles O'Reilly, and Pomello co-founder, Catherine Spence, how to create a culture strategy, and use technology to manage culture effectively.
Keller Williams Realty emphasizes associate leadership and the importance of individual real estate businesses. We believe we must remain flexible and innovative in the face of an evolving market and an increasingly Internet-empowered clientele. This slide show explains a little about our business model and our unique value proposition. Thanks for taking the time to check it out.
google finance academy 1By Brian Tayanjanuary 8, 2019.docxgreg1eden90113
google finance academy 1
By Brian Tayan
january 8, 2019
The wells fargo cross-selling
scandal
Stanford cloSer looK SerieS
introduction
In recent years, more attention has been paid to corporate
culture and “tone at the top,” and the impact that these have on
organizational outcomes. While corporate leaders and outside
observers contend that culture is a critical contributor to
employee engagement, motivation, and performance, the nature
of this relationship and the mechanisms for instilling the desired
values in employee conduct is not well understood.
For example, a survey by Deloitte finds that 94 percent
of executives believe that workplace culture is important to
business success, and 62 percent believe that “clearly defined
and communicated core values and beliefs” are important.1
Graham, Harvey, Popadak, and Rajgopal (2016) find evidence
that governance practices and financial incentives can reinforce
culture; however, they also find that incentives can work in
opposition to culture, particularly when they “reward employees
for achieving a metric without regard to the actions they took to
achieve that metric.” According to a participant in their study,
“People invariably will do what you pay them to do even when
you’re saying something different.”2
The tensions between corporate culture, financial incentives,
and employee conduct is illustrated by the Wells Fargo cross-
selling scandal.
Wells Fargo culture, Values, and ManageMent
Wells Fargo has long had a reputation for sound management.
The company used its financial strength to purchase Wachovia
during the height of the financial crisis—forming what is now the
third-largest bank in the country by assets—and emerged from
the ensuing recession largely unscathed, with operating and stock
price performance among the top of its peer group (see Exhibit 1).
Fortune magazine praised Wells Fargo for “a history of avoiding
the rest of the industry’s dumbest mistakes.”3 American Banker
called Wells Fargo “the big bank least tarnished by the scandals
and reputational crises.”4 In 2013, it named Chairman and CEO
John Stumpf “Banker of the Year.”5 Carrie Tolstedt, who ran the
company’s vast retail banking division, was named the “Most
Powerful Woman in Banking.”6 In 2015, Wells Fargo ranked 7th
on Barron’s list of “Most Respected Companies.”7
Wells Fargo’s success is built on a cultural and economic model
that combines deep customer relations with an actively engaged
sales culture. The company’s operating philosophy includes the
following elements:
Vision and values. Wells Fargo’s vision is to “satisfy our
customers’ needs, and help them succeed financially.” The
company emphasizes that:
Our vision has nothing to do with transactions, pushing products,
or getting bigger for the sake of bigness. It’s about building lifelong
relationships one customer .
Corporate values articulate what guides an organization’s behavior and decision making. They can boost innovation, productivity, and credibility, and help deliver thereby sustainable competitive advantage. However, a look at typical statements of corporate values suggests much work remains to be done before organizations draw real benefits from them.
Culture used to be a soft concept. It used to be something the
executive team would only pay attention to when the business
environment grew toxic. In today’s world, this is changing
— and in a big way. Forward-thinking executives now view
culture as the surest way to establish a competitive advantage
because of its direct impact on the customer experience.
And, as a result, they also realize the role culture plays in the
financial performance of the business.
Of course, not all executives get it. Many still see culture as
an HR issue. They still separate it from the company’s overall
go-to-market strategy and story, and view it as something that
is built in isolation. Learn why this is not a winning formula.
Estudo sobre as 900 maiores empresas familiares do mundo - Credit Suisse 17 de jul 2015
O Credit Suisse lançou em julho/2015 um estudo sobre as 900 maiores empresas familiares do mundo. Vale a pena conferir as maiores por região e também os inúmeros casos como por exemplo o Wall Mart.
Thought leadership from Credit Suisse Research
and the world’s foremost experts
Fi360 Whitepaper. Four key points: Your reputation is your most valuable asset; Success includes promoting your reputation; fiduciary context can help build your reputation and finally a great reputation benefits your practice and your clients.
1. Stanford Closer LOOK series
Stanford Closer LOOK series 1
By David F. Larcker and Brian Tayan
april 21, 2016
how important is culture?
a second look at keller williams realty
introduction
Keller Williams is the largest real estate franchise in the world,
with over 139,000 agents in 780 market centers globally. The
company has enjoyed considerable growth since inception,
with agent count doubling in the last four years alone. It is also
highly profitable, with gross commission income and operating
profit per market center largely exceeding those of its nearest
competitors. The leaders of Keller Williams attribute the
company’s success to the combination of an economic model built
on economies of scale and a cultural model that emphasizes profit
sharing, interdependence, and success through the efforts of
others. They believe the focus on culture helps resolve disputes by
creating common expectations and provides a strong emotional
connection to the company, which encourages retention.1
Keller Williams, however, is not alone in identifying culture
as an important factor in its success. Many companies emphasize
the quality of their culture. Still, the impact of culture on overall
performance remains an open question.2
To date, researchers
have not been able to agree on how or whether culture influences
organizational outcomes, or the role that leadership plays in
establishing and promulgating culture.
the culture of keller williams
In 2015, we conducted a large-scale survey of Keller Williams
team members to understand how associates of Keller Williams
view the company’s culture and whether perceptions of culture
are associated with performance.3
Keller Williams lends itself
to analysis because of its unique organizational features that its
leaders believe contribute directly to culture, and because the
company operates across independent market centers, which
allows for observation of how variations in the perception of
culture relate to variations in economic outcomes within the same
company. The company’s prominent organizational features are
summarized as follows:4
• Belief system. The company’s culture is encapsulated in the
belief system WI4C2TS (pronounced “why four see two tees”),
which emphasizes “win-win” solutions and success through
the efforts of others.5
The belief system summarizes the values
according to which organizational and customer-facing
decisions are expected to be made.
• Profit sharing. Almost half of the operating profits of each
market center are shared with individual agents in an elaborate
profit-sharing formula that takes into account the cash profits
of the market center and the productivity of the other agents
that the agent has recruited to the company. This practice
ensures that the financial success of the office is shared with
agents and that the incentives of owners and agents are aligned.
• Shared leadership. All financial and operating decisions in
a market center are made jointly by the owner (operating
principal), team leader, and select agents (chosen among the
top 20 percent measured by productivity) who together serve
jointly on the Associate Leadership Council (ALC). This
practice ensures that agents have a voice in the decision-
making process.
• Open-books policy. All agents have access to view detailed
revenue and expense information in the market center and the
minutes of ALC meetings. This practice ensures transparency.
• Training. Keller Williams offers extensive training to agents,
team leaders, and operating principals through courses that
document best practices for business building, leadership,
and personal development. Extensive training reflects the
company’s commitment to help its associates reach their full
potential.
Our survey found evidence of an exceptionally strong culture
with little variation across market centers.6
Associates of Keller
Williams describe the company culture as ethical and one that
fosters collaboration. Ninety-two percent of respondents believe
the word “ethical” very much describes the company’s culture.
Eighty-nine percent believe that the company “will help me in
a time of need.” The same percentage describes the company
as having a “family-like culture,” while 87 percent believe very
strongly that the company “does the right thing.” Less than one
2. How Important Is Culture?
2Stanford Closer LOOK series
percent do not agree with these descriptions (see Exhibit 1).
The survey also found that associates have a very positive
view of the company and its culture. Almost all (96 percent)
respondents agree or strongly agree that the culture of Keller
Williams is unique among large real estate agencies; less than 1
percent disagree. Ninety-six percent also agree or strongly agree
that the company’s culture is very important in accounting for its
success; only 1 percent disagree. Respondents cite the values of
integrity, teamwork, and “win-win” as most important to Keller
Williams’s success. Ninety-two percent believe that it is the best
real estate agency to work for in their area. Ninety-one percent
are extremely likely to recommend the company as a workplace
to a close personal friend.7
The leaders of Keller Williams have stated that agents join the
company for its training and education but stay for its culture.
Survey data supports this claim. The top three reasons respondents
claim to have originally joined the company include its educational
opportunities, culture, and compensation structure. Culture,
however, is by far the most frequently cited reason why associates
stay (see Exhibit 2).
Commentary and follow-up interviews with selected survey
participants underscore this point. According to an agent in a
market center in the Midwest, “The culture is what grabbed me.
… It really is a vehicle to get to the person to help them achieve
their dreams, achieve their success.” According to another from
the East Coast, “It is not only a great example of a real estate
operation, it is a shining example to all businesses that a symbiotic
do-the-right-thing culture that is followed from the top down
wins and wins big.” In the words of an agent from the West Coast,
“We are a company that is very proud of our culture. … People on
the outside don’t understand who we are, and how we operate.
… Once they see us from the inside, they completely get it.” (See
Exhibit 3.)
We also find positive evidence that the company’s principles,
including its profit-sharing model, open-books policy, system of
shared leadership, and training and coaching are important both
as reflections of the company’s culture and as contributors to the
company’s success. There is some evidence that leadership at the
market-centerlevelandcompany-wideareimportantcontributors
to the company’s culture, although we did not explore this issue in
sufficient detail to make a definitive assessment.
In summary, the evidence suggests that Keller Williams has
a clearly defined culture that is positively viewed and widely
accepted by its associates. The company has succeeded in
embedding this culture into its organizational practices, and
associates have a positive perception of the company’s culture, its
leadership, and their place in the organization.
Still, it is difficult to measure in economic terms the
contribution that culture has made to Keller Williams’s growth
and profitability. This impact likely shows up in nonfinancial
measures that are hard to quantify but nevertheless translate
into future performance—such as recruiting engaged and loyal
associates.8
To test this association, we measured whether market
centers that score favorably on cultural perception exhibit higher
overall profitability and higher profits per agent than market
centers that score unfavorably. We found no relation between
these variables. However, given the consistently high favorability
ratings across market centers in our sample, it is not clear whether
there is sufficient variability in perceptions to provide a reliable
measurement. It might be the case that the most important unit of
analysis is how Keller Williams performs in each market relative
to competitors rather than how performance varies across market
centers.
Why This Matters
1. Keller Williams is an example of a company with a clearly
defined culture that is widely understood and embraced by
its team members. It is also an example of a highly successful
company in terms of long-term growth and profitability. In
general, how important is culture as a driver of economic
outcomes? Does a company with a strong business model
perform better if it also has a strong culture?
2. A company with a strong culture is not a fit for everyone. A
strong culture can lead to higher than average turnover and the
loss of qualified associates who feel alienated by the company’s
work practices. What is the cost of a strong culture? How can
a company determine whether it has a healthy or excessive
level of turnover? How does culture influence the employee
selection and hiring process?
3. Keller Williams scores favorably among many positive cultural
attributes, in particular having a family-like culture, willingness
to help in a time of need, and caring about the personal success
of its associates. How important is it that associates feel their
company “cares” about them personally and professionally?
Does this perception provide additional motivation to work at
a higher standard?
4. What role does leadership play in shaping culture? What
role does the average associate play? Which would do more
damage to an organization: leaders who do not emphasize the
company’s culture, or employees who do not embrace it?
5. If a company has an extremely strong culture, does it make
the company operationally or strategically inflexible? What
4. How Important Is Culture?
4Stanford Closer LOOK series
Exhibit 1 — descriptors of keller williams culture
Note: As measured on three-point scale: very much, somewhat, not at all.
Source: Proprietary study conducted by the authors (October 2015).
To what extent do the following words or phrases accurately describe the culture of Keller Williams?
0% 20% 40% 60% 80% 100%
RIGID
CARES MORE ABOUT PROFIT THAN PEOPLE
BUREAUCRATIC
TOLERANT
FLEXIBLE
EFFICIENT
FAST-PACED
PROCESS-ORIENTED
OPEN TO NEW IDEAS
RESULTS-ORIENTED
CARES ABOUT MY PERSONAL SUCCESS
TEAM-ORIENTED
FAIR
DOES THE RIGHT THING
FAMILY-LIKE CULTURE
WILL HELP ME IN A TIME OF NEED
ETHICAL
VERY MUCH
5. How Important Is Culture?
5Stanford Closer LOOK series
Exhibit 2 — top reasons to join and stay with keller williams
Note: Top five responses only.
Source: Proprietary study conducted by the authors (October 2015).
what are the reasons you...
... originally joined keller williams? (select all)
0% 20% 40% 60% 80%
GROWTH AND SUCCESS OF KELLER
WILLIAMS
THE BUSINESS MODEL
COMPENSATION (CAP STRUCTURE)
CULTURE
EDUCATION
... have stayed at keller williams? (select all)
0% 20% 40% 60% 80%
COMPENSATION (CAP STRUCTURE)
THE BUSINESS MODEL
GROWTH AND SUCCESS OF KELLER
WILLIAMS
EDUCATION
CULTURE
6. How Important Is Culture?
6Stanford Closer LOOK series
Exhibit 3 — Perceptions of keller williams culture
on mission
“We are very clear about the mission: to build careers worth having, businesses worth owning, and lives worth
living.” – Leader, Southwestern region
“Keller Williams is first and foremost a business and business-building organization. But the personal enrich-
ment and the culture of personal development, caring, and giving are the most rewarding benefits.” – Leader,
Northeastern region
On Culture
“People often come to make more money or to save money, and then they stay for the culture. I stayed for the
culture.” – Agent, Western region
“We have attracted a lot of people who wanted to come to us just for the money, and you see them wash out when
the market shifts. The people who remain are here for the values and the core beliefs.” – Leader, Northwestern
region
“We are a company that is very proud of our culture. … People on the outside don’t understand who we are, and
how we operate. Once they see us from the inside, they completely get it.” – Agent, Western region
“The culture is what grabbed me. … It really is a vehicle to get to the person to help them achieve their dreams,
achieve their success, inspire them to wholeness and to a mindset of success, of helping and contributing to
others. … The culture means that I can be in business in alignment with my values.” – Agent, Midwestern region
“It is not only a great example of a real estate operation, it is a shining example to all businesses that a symbiotic
do-the-right-thing culture that is followed from the top down wins and wins big. Creating a corporate structure
that encourages mutually assured success for the ownership, leadership, workers, and clients leads to a truly
amazing and sustaining result.” – Agent, Eastern region
“[Outsiders] will say, ‘It is like you scripted everybody.’ There is that consistency. I think that to people who have
values, our values matter. And I think that people who aspire to our values are attracted to our company.” –
Leader, Northwestern region
“Keller Williams is a different real estate company. It is certainly not a fit for everyone.” – Administrator,
Midwestern region
On Values
“There is no finer real estate company in the world, and I am blessed to be a part of a company that clearly states
their values in the lobby of each office: ‘Family then business.’” – Agent, Southwestern region
“I think the most powerful message that Keller Williams has for its agents, for a customer, is that we are always
going to do what’s right, what makes their situation the right situation. We’re going to do what we can with
integrity and honesty and commitment.” – Agent, Northeastern region
7. How Important Is Culture?
7Stanford Closer LOOK series
Exhibit 3 — continued
“WI4C2TS is really a system of how we display our values and beliefs. … One of my challenges is to make sure our
people really know what that is, not just if they pick it up and read it, but know it and can say it and understand
it, and learn to live it every day.” – Leader, Southeastern region
“I was at an event and someone from another Market Center stood up, not someone we knew, and said that
someone in their office had been diagnosed with Stage IV cancer and was given only a few weeks to live. It wasn’t
a matter of, ‘Let’s help them out with medical bills.’ It was a matter of her having things that she would like to do
with her family before she dies, and she did not have the financial means to do them. She asked if anybody in the
room could help out. Several thousands of dollars were raised. There was someone in need, and we wanted to
help them. They are part of our family.” – Administrator, Western region
On Leadership
“I can honestly say the leadership has changed my life, and I feel the leaders care about me and my family.” – Agent,
Southwestern region
“I always know that the people in our company have my best interest at heart.” – Agent, Southeastern region
“I’ve been in the work force for 40-plus years, in three major professions. None has come close to seeing employees
as vital to the corporate outcome as Keller Williams. … We at Keller Williams are here for them now and will be
in the future.” – Agent, Eastern region
“Agents are astounded when they join and find we have a real interest in them, not just their productivity. …
Newly joined agents who encounter a personal problem or illness are blown away by the fact that the office cares.
Food delivered to those who are ill, offers to help run their business until they are able to come back, etc. It just
isn’t found elsewhere.” – Leader, Eastern region
“If you’re going to have a profit-share system, there really needs to be transparency and say-so in the way things
are done.” – Leader, Northeast region
On Training
“I wouldn’t be where I am professionally or personally without the education, coaching, and mentoring my
company has provided me.” – Agent, Western region
“It is more than just real-estate skills acquisition. It’s about growing as individuals. The most powerful coaching
and training events have nothing to do with real estate specifically. They are about mindset and big picture
thinking.” – Administrator, Midwestern region
“I developed the belief that the only difference between top performers and me was my mindset. The other
critical point for me is something Gary Keller said. He said in order to be successful you need to succeed in all
areas of your life. So if I am successful in my career and fail as a father or with my health, then I am not successful.
It is important to me that our leadership cares about our lives.” – Leader, Midwestern region
Source: Proprietary study conducted by the authors (October 2015). Edited for clarity.