Organizational Structure and Culture are directly linked to Organizational Performance. To explain further here are my findings 1. Organizational Culture: One theory that is common in the literature is the strong culture theory. This theory assumes that if managers and employees within an organization are fully committed to collective principles, customs and morals this will result in positive outcomes in the organization. The theory also proves that there is a relationship between strong corporate culture and organization performance or profits.
It reflects every faucet of the corporation; the range and nature of the products offer, pricing, quality of service, market place position, growth potential, use of technology, and relationships with customers, employees, suppliers, competitors, and the community. An advantage of having a mission statement in connection with the corporation’s goals and objectives is it can be beneficial to a corporation by acting as a form of advertisement. It establishes a business’s underlying purpose beyond the simple goal of making a profit therefore meeting the corporation’s goals and objective. Corporate Policy is another strategy for a corporation. By establishing corporate policy will help employees to clearly understand their roles and responsibilities within predefined limits.
It includes an organization's unique expectation, experiences and philosophy. Corporate culture is based on written and unwritten rules that have been developed over time. The culture is rooted in an organization's goals, strategies, structure and approaches to labor, customers, investors and the greater community. It affects the ways a company is conducting its business, how they treat their employees and customers. A good corporate culture can increase the organizations productivity and performance.
DETAIL STUDY INTRODUCTION TO CORPORATE CULTURE Internal personality of a company is known as corporate culture. It shows by how the subordinates react, behave, think etc. It concern with ethics and manner of that company. Every company tries to establish unique corporate culture and it show in its statement of objectives, vision, norms of working, symbols and goals.
3.0 Concepts 3.1 Resources and Capabilities In order to achieve and sustain competitive advantage, a business needs both resources and capabilities. Resources are assets that are owned or employed by an organization. The organization utilizes and uses these assets to carry out their business operations. Resources can be grouped either tangible assets or intangible assets.
Values • Business values typically are expressed in terms of how the organisation performs its day-to-day interactions with suppliers, employees and customers. A primary objective of the code of ethics is to define what the organisation is about and make it clear that the organisation is based on honesty and fairness. Another commonly defined value is respect in all interactions, regardless of the circumstances. Principles • Principles are used to further support the business values by including operational credos employees should follow. Customer satisfaction, business profitability and continuous improvement are key factors in documenting business principles.
Take care of our employees 4. Respect our suppliers While each of these items has much more detail provided in their corporate mission statement and code of ethics, they are seemingly very simple and straight forward. There is not a lot of large unnecessary words or corporate speak used. To me this reflects directly on how Costco treats its employees and customers. (Statterfield, 2015)
Based on their definitions Absolute advantage which compares the productivity of different producers or economies, in this case the correct definition given to Absolute advantage is that a producer needs smaller amount of inputs in order to produce the good as needed. Comparative advantage is defined as a party which produces a certain good or services at a lower cost comparing to another. Even if
In addition, emotional ownership is respected and this enables employees feel more effective working with the leader (Mayer, Nurmohamed, Treviño, Shapiro, & Schminke, 2013). Further, employees feel more responsible for whatever takes place within the organization. Their sense of identification with organizational objectives is increased and employees generally experience more sense of belonging to the
WPS holds themselves and each other accountable for living our values and carrying out our responsibilities. Managers and leaders in our company model and support the behaviors that are critical to company