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case study - Essay Example
Modern organizations and banking institutions in particular are influenced by internal and external environment. Corporate and national culture determines an organization's identity and image, performance and relations with partners and customers. Eurobank is one of the largest banking organizations operating worldwide…
In order to remain competitive and keep strong corporate image, Eurobank creates its culture based on a strong corporate philosophy and unique national values and traditions of the home country.
The relationships between corporate and national culture can be explained by a strong impact on national traditions and cultural values typical for France. They involve "loyalty and long service, paternalistic values and commitment to labor laws in its redundancy policy" (Baron & Walters 1994). Eurobank adopts the national culture as the core of its ethics and corporate image. Eurobank favors attributes that allow it to define organizational identity from the perspective of organizational actors' experiences (e.g., leadership, governance structure, professional qualities required for climbing the corporate ladder). Top management presents quality service to customers as one of the bank's main defining attributes. This is clear from the presentation of customer service as a mission, a primary goal, a tradition, a constant, a strength, a reason for everything else the bank does, and a distinctive Eurobank trademark (Brake et al 1995).
A company's culture is actually an aggregate of subcultures that have developed in response to unique challenges faced, by different groups within the organization (Brake et al 1995). ...