Introduction to Cojourn

Cojourn is a values-driven holding company investing in enduring family-owned businesses. We partner with business owners to provide a superior exit process tailored to respect the legacy and ensure the continued success of the company post-sale. One distinctive in our approach is including cultural covenants into our purchase agreements. These unique covenants demonstrate our commitment to maintaining and nurturing the organizational culture that defines each business.

What is Organizational Culture?

Organizational culture can be likened to a garden. Just as a garden needs careful planning, nurturing, and attention to thrive, so does a company’s culture. In a garden, visible plants and flowers represent the behaviors and practices we see on the surface. However, the roots, soil quality, and unseen caretaking efforts that sustain the garden symbolize the underlying beliefs, mindsets, and values that shape the environment. While the visible aspects of culture are important, it’s the hidden, foundational elements that truly sustain and nourish the organization.

Why Does Culture Matter?

In most industries the products offered by competing businesses do not differ dramatically, but high-performing organizations distinguish themselves in how and why they create and deliver their product. Organizational culture plays a critical role in this differentiation. According to McKinsey's research, organizations with top-quartile cultures, as measured by the McKinsey Organizational Health Index, post returns to shareholders that are 60% higher than median companies and 200% higher than those in the bottom quartile. (1) Professor James Heskett of Harvard Business School, in his book "Win from Within: Build Organizational Culture for Competitive Advantage," argues that an effective organizational culture provides businesses with a significant competitive edge. Higher employee and customer engagement and loyalty translate into greater growth and profits over time. (2)

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(1)

https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/culture-4-keys-to-why-it-matters

(2)

https://hbswk.hbs.edu/item/what-it-takes-to-build-an-organizational-culture-that-wins#:~:text=Heskett%2C%20the%20UPS%20Foundation%20Professor,into%20greater%20growth%20and%20profits

PERSPECTIVES

Explore our latest blogs, white papers, and case studies to gain a deeper understanding of Cojourn's unique approach to investing in and sustaining successful family-owned businesses.