Defining your business's core values is key. When you define who you are and what you want your company's brand to express, your employees will take ownership. This ownership leads to a productive environment no matter how relaxed or micromanaged it may be. Want better profits? Explain your values.
Showing humility can help bring a team together, which is why Google is doing so well. Google's leaders aren't afraid to sit in the dunk tank at company events. Their culture is to play hard and party harder. They are all treated as equals and aren't afraid to engage with each-other because of this. If you have the feeling that your employees are being reserved when you're around, consider getting in the dunk tank!
Another thing you can do to create a relaxed and productive culture is to show you care about your employees in the totality of their lives. Adding on an extra PTO day here and there isn't what I mean. You have to be invested in employees if you want them invested in your company. For you to grow, they have to grow. Ask about their interest and reward them with things they enjoy. I know one company in Michigan that rewarded their employees with a limo, free dinner and front row tickets to Kid Rock. Plus, babysitting was paid for the employees who had kids. What did the employees do to deserve such a reward? Profits were up by 40% one month. And, you can guess the projected sales for the rest of the year after the Kid Rock concert!
As a business owner it is up to you to determine the type of culture you want to create within your office. Taking the above suggestions into consideration is highly recommended.