A magical "thing" that is regarded by everybody in corporations as highly desirable, since it is believed that high morale will cause employees to sing a merry tune and smile while being massively productive and positive.
Corporate leaders believe they should always have high morale, but sometimes morale is extremely difficult to locate or enhance. In really dysfunctional corporations, mediocre leaders adopt the mindset that morale can be increased by intimidation (as in the famous warning "the beatings will continue until morale improves").