Tolegenova Aiya Finance 1401 UNIT 1
What is corporate culture? v Corporate culture refers to the shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature. Corporate culture is rooted in: organization's goals strategies Structure approaches to labor Customers Investors the greater community.
Closely related concepts Corporate ethics Corporate image
Five questions that, if answered, get at the essence: What 10 words would you use to describe your company? Around here what's really important? Around here who gets promoted? Around here what behaviors get rewarded? Around here who fits in and who doesn't?
Humans are social beings. This is how ideas and beliefs spread. People will be left to do what they’re going to do. In an ideal culture, people do the right thing, even when no one’s looking. This is the level of organizational health that any business should strive for.
Bottom-line advantages of a strong corporate culture include: • Motivation. • Low employee turnover/ reduced payroll cost. • Attendance. • Productivity. • Creative/ independent problem solving. • Ethics. • Personal accountability. • Enterprise value.
Symbol Logo Change your culture Story Employee as a symbol Ritual
CULTURE IN SMALL BUSINESSES Culture can be a particularly important consideration for small businesses. A healthy company culture may increase employees' commitment and productivity, while an unhealthy culture may inhibit a company's growth or even contribute to business failure. As the company grows and adds employees, however, the authoritarian management style that the business owner used successfully in a very small company can become detrimental.
In a healthy culture, employees view themselves as part of a team and gain satisfaction from helping the overall company succeed. When employees sense that they are contributing to a successful group effort, their level of commitment and productivity, and thus the quality of the company's products or services, are likely to improve.
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