Researchers at the Stanford Graduate School of Business have published a report in their Closer Look series on the importance of culture at Keller Williams. It marks the third time that the prestigious business school has studied Keller Williams. A PDF of the nine-page report by David F. Larcker and Brian Tayan is available to download for free.
The new study reviews the company’s operating model in detail and answers:
How important is culture as a determinant of economic outcomes?
Are culture and incentives the same, or is culture something greater?
Are some elements of culture “more important” than others?
How are the values and behaviors within an organization influenced by the “tone at the top”?
“As an education-based company, we’re honored that Stanford has chosen to study our company to teach business students about the importance of culture,” Keller Williams CEO Chris Heller said.
Keller Williams is the world’s largest real estate franchise by agent count. In 2015, Training magazine named Keller Williams the No. 1 training organization across all industries.
Stanford has studied aspects of the Keller Williams business model twice previously. A 2007 case study reviewed the economic and cultural models that led to the success of Keller Williams. A follow-up study in 2011 evaluated the actions taken by Keller Williams in response to the residential real estate market downturn. The 2007 and 2011 case studies can be purchased online through Harvard Business Review.