Company culture

The company culture is a critical prerequisite for sustainable growth. Unlike technologies, strategies, business models or organizational structure, the company culture is hard to copy.

Volvo Way shows what we stand for and aspire to be in the future. It expresses the culture, behaviors and values shared across the Volvo Group.

It expresses the cohesive culture, behavior and values shared across the Volvo Group. Volvo Way was first introduced in October 1999. Several new businesses with different brands have since been acquired. The industrial systems have been integrated, and concerted efforts were underway to enhance performance.

"Managing the global financial downturn in 2008 and 2009, Volvo Group learned some important lessons. We need to be lean. We need empowered employees. We need to be accountable, aligned, agile and able to execute decisions. We need to turn outward, add customer value and drive change,” wrote CEO Leif Johansson in a letter to all managers introducing the new Volvo Way in October 2009.

The new Volvo Way reflects an ambitious endeavor of creating a cohesive culture throughout the whole Volvo Group. This is a culture of enablement, based on global principles and shared values:

 Our culture is how we work together with energy, passion and respect for the individual. It is about involvement, open dialogue and feedback. It is about diversity, teamwork and leadership. It is how we build trust, focus on customers and drive change. Our culture embodies individual responsibility and accountability for results. This means a clear orientation towards common goals and solutions, and a strong determination to grow, develop and improve. It is how we conduct our business around the world.

The new Volvo Way supports the strategy for delivering added value to demanding customers in selected segments. In this customer centric culture, there is a strong focus on responsiveness, agility and the ability to execute with speed. Truly making the organization more efficient, demands further developing employee engagement and commitment to the company’s strategic objectives for future business success.

To be involved means that we take individual responsibility for decisions. This employee engagement results in a strong driving force to meet agreed objectives and goals. All of us feel accountable for driving improvements and building the future. Only engaged employees can deliver the highest quality and efficiency.

During the first half of 2010, the new Volvo Way was disseminated to all employees by their immediate manager. Nearly two out of three teams have identified local improvement actions. To build a high commitment and high performance working culture will require continuous attention and support by management. The result is a more resilient organization.

We are convinced that a cohesive culture based on global values strengthens our brands and makes Volvo Group a more attractive employer, business partner and industry leader.