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This paper investigates literature available on the correlation between corporate culture and financial performance. While the latter is relatively easy to measure and therefore to compare, the former is often subjective even though efforts have been made to put in place systems, if not of measurement, then at least of comparison.
Webster's Dictionary defines corporate culture as "the shared values, traditions, customers, philosophy, and policies of a corporation; also, the professional atmosphere that grows from this and affects behaviour and performance." In essence, "corporate culture is the personality of your organization. It's the way your company does business and how it conducts itself. It's employees' beliefs and expectations of work." (Ceridian, 2005). Corporate culture and the cultural statements that it engenders then become the modus operandi for corporate members when the executives voice and document the values of the corporation to provide models for how corporate members should behave (1000ventures).
There are various numbers of definitions available regarding to corporate culture. Various academic scholars and authors have defined it in different ways. Despite having differences in definitions many would agree on one thing that corporate culture can be referred to as a set of values, beliefs, and behaviour patterns that form the core identity of the organisation, and help shape the employees' behaviour ( Rashid et al, 2003).
According to Tichy et al ( 1982), corporate culture is a directive glue where the appropriate questions to ask concern the values and beliefs that are needed to support the corporate strategy, the subcultures that might also contribute to this ...
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