57 - corporate culture

Question 1

cultural dimensions

Answer 1

a set of characteristics that form the international context of business culture

Question 2

organisational/business/corporate structure

Answer 2

the values, attitudes, beliefs, meanings and norms that are shared by individuals and groups within an organisation that determine how a company’s employees and management interact and handle outside and inside business transactions

Question 3

strong culture

Answer 3

a culture where values, beliefs and ways of working are deeply embedded within the business and its employees

Question 4

advantages of a strong corporate culture

Answer 4

1) it provides a sense of identity for employees, they feel like they are a part of the business; this may lead workers to be flexible when the company needs to change or is having difficulties
2) workers identify with other employees; this may help with aspects of the business such as teamwork
3) increases in commitment of employees to the company; this may prevent labour turnover and industrial relation problems
4) motivates workers; increase in productivity
5) helps employees understand what is going on around them