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What is a Corporate Culture?

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Introduction

´╗┐Corporate Culture What is a Corporate Culture? Put in simple terms, corporate or business culture is the personality of the organisation. This corporate culture is made up of the assumptions, values, standards (moral and financial) and behaviour of organisation members. We can therefore say that business culture is the shared meanings or common beliefs present among an organisation's members. Culture is one of those terms that are difficult to express distinctly, but everyone knows it when they sense it. For example, the culture of a large, for-profit corporation is quite different than that of a hospital, which is focused on the patient, which is again quite different that that of a university. A recent report into the Metropolitan Po- lice identified the service as being ?institutionally racist?. ? Could this be regarded as a fair reflection of the personality of this organization? ...read more.

Middle

Disney was and is authoritarian in nature, whilst Virgin is much more inclusive, more like a club. The leader is: * a model of how to operate within the firm * a symbol of who gets ahead * a guardian of the status quo * a product of the culture Risk taking culture It could of course be argued that virtually all business decisions involve risk taking, after all the outcome is never completely certain. But there is a huge difference between playing it safe and risk taking. In a risk taking culture outspoken and non-conformist staff members are never sanctioned or even fired for breaching the firms normal methods of behaviour, in fact if the risk they take pays off, they can be highly rewarded. Leaders will praise an employee's willingness to take a chance. The major advantage of a risk taking culture is that it can lead to rapid innovation of new ideas, methods and products. ...read more.

Conclusion

The Co-operative Bank is a good example of a socially aware business, it does not invest in non-ethical investments such as tobacco companies, and arms manufacturers. The Co -op Bank (CFS), says that its values include: * Being customer focused We always aim to satisfy our customers and exceed their expectations where we can. * Making work fun We're proud of CFS and know that we can contribute to making it a great place to work. * Social responsibility We're committed to leading the way on ethical, environmental and community issues. * Openness and honesty We work hard to earn credibility and trust from our customers and each other. There are a number of advantages to adopting this type of culture, these include: * Winning custom from the ethical consumer * Avoidance of bad publicity which may damage the brand * Reduction of risk (The co-op bank has avoided most of the impact of the recent banking crisis) * Attracting high quality staff who are committed to maintaining the culture ...read more.

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