Regardless of economy or industry, successful enterprises share certain common traits on the path to organizational success. One of these is the intangible asset of corporate culture.
‘Company culture’ is phrase gracing the sheets of many a leadership memo about morale. It is an intangible asset that should be briefly considered. The term culture involves a value system that a group adopts that shapes ideas about the rest of the world. It involves a shared history, certain beliefs, psychology, and among other factors a time schedule. When applied in the corporate sphere, this culture should attract those individual who will successfully drive a business.
A well-defined corporate culture will advertise to employees what an enterprise holds dear. By combining the talents of many with similar values that also embrace the company’s culture, and corporation can achieve great growth and innovation in a limited amount of time. When you have people who love their work gathered in one place, there is dynamic
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Corporate culture is an idea that many managers do not effectively communicate. If the goals are not shared throughout the corporate hierarchy, then a well-defined culture will be unable to form. This attracts mediocrity which slows productivity, creativity and ultimately profits.