Editor's note: Lori Ann LaRocco, author of Opportunity Knocking, share some important lessons for exec below.
NEW YORK ( TheStreet) -- In the last four and a half years, chief executives have had the task of increasing shareholder value in a slow-growth economy. They have made cuts, but you can't cut your way to prosperity. Growth is needed to prosper. One of the foundations of creating growth is through culture.
It is a necessary part of a company's foundation.
Culture is created and supported from the corner office, all the way down to the mailroom and employees meeting with the public. It is nurtured as it is a living entity and the identity of an organization; if neglected, it can go sour.
CEO Alan Mulally of Ford Motor ( F) faced a decayed corporate culture when he took over. By creating a new culture, he was able to revive and turnaround a beleaguered icon.
In order to take advantage of opportunity and meet demand, an organization's structure is key. Ford may be a global company, but the model Mulally uses to structure his company is something any entrepreneur or business leader can apply. He calls it the "One Ford" plan.
The tiered, focused 'One Ford' plan illustrates the culture of Ford. It all centers around human capital. By meeting every week, Mulally and his team get to know each other extremely well: "You know you can't fool anybody. Without leadership sharing the same vision and communicating about how they would execute, the 'One Ford' plan would cease to exist."
As with any plan, it must be executed properly to be effective, and Mulally executes it through his example. He is known for his unbelievable memory, able to recall someone after meeting them just once.
A Ford employee told me about being "blown away" by his memory when walking with him on the floor of the Detroit Auto Show.