Corporate Culture Also known as organizational culture comprises the attitudes, experiences, beliefs and values of an organization. It entails the specific collection of values and norms shared by people and groups in an organization and that control the way they interact with each other and each stakeholders outside the organization. An organization value implies beliefs and ideas about what goals members of organization should pursue and ideas about appropriate kinds or standards of behaviour organization members should use to achieve these goals.
Organization norms, guidelines or expectations that prescribe appropriate kinds of behavior by employees in particular situations are rooted to these values and have significant influence to the control of behavior of organizational members towards one another (Lockwood, 2005). Each employee in virgin cosmetic company is a hand contributor towards emphasis on innovation and commitment to cost containment. The hiring policy is aggressively non-discriminatory favoring ability over experience giving results of staff that reflect global audience.
What people wear at work, how people address each other and the titles given to various employees, all have significant orientation in the company’s environment. Each an employee is sure to spend a lot of time in the company’s environment, and to be happy, successful and productive, the employee’s culture is accommodative; has a voice, is respected and has opportunities for growth (Hastings, 2006). The company has identified that corporate culture is moving into the limelight and proving to be an untapped asset for employees.
Company has established a stronger and adaptive culture that makes it perform significantly betters financially than those with weak and poorly defined cultures. Success in the company is more dependent on employing and motivating the best people than it is on having the best website, the biggest database or the fastest processors. Cultural transformation is driven by people-leaders at all levels of the company. IT serves as a catalyst for change and provides a temperate for implementing that change.
But, too often, the existing culture is forced to adopt a new technology platform without sufficient regard for existing user patterns and processes. In such a case, technology becomes a stick, rather than a carrot (Fulmer & Goldsmith 2002). The key to successful information sharing in the company is to change the culture into one that supports collaboration as a better way of doing things. The company recognizes the three pillars of any successful application deployment as people, process and technology.
The people part includes corporate culture and corporate structure, and if these are not conducive to a business model, then the success in building and maintaining customer relationships can be an uphill battle. Aside from encouraging certain behaviors by a system of rewards and recognitions, the company reflects and supports the needs of the employees. Responsibilities cover current and past actions as well as future impacts.
Corporate social responsibility typically includes issues related to business ethics, community investments environment, governance, human rights, marketplace and workplace. Benefits of a positive corporate social responsibility in the company has resulted to; improved financial performance, reduced operating costs, enhanced brand image and reputation, increased sales and customer loyalty, increased productivity and quality, increased ability to attract and retain employees, reduced regulatory oversight and access to capital (Cooper & Lock 2000).
The direction of the corporate social responsibility has been shaped in the company by some important factors including increased stakeholder activism, more sophisticated stakeholder engagement, proliferation of codes, standards, indicators and guidelines, accountability throughout the value chain and transparency. The development of corporate social responsibility reflects the growing expectations of the community and stakeholders of the evolving role of the companies in society and the response of the company to growing environmental, social and economic pressures.
Through voluntary commitment to corporate social responsibility the company is sending a positive signal of it’s behavior to it’s various stakeholders (employees, shareholders, investors, consumers, regulators and NGOs) and in so doing make an investment in it’s future and help to increase profitability (Fulmer & Goldsmith 2002). The company’s right corporate biology – the optimal balance of people and culture means the difference between success and failure and as technology becomes increasingly plug and play, corporate culture in the company assume an even bigger role than IT systems will play in the war for customers.
Socially, responsible business practices strengthen corporate accountability, respecting ethnic values and in the interest of all stakeholders. The natural environment is also presented. People are empowered in investments in the communities where business operations are achieved (Fulmer & Goldsmith 2002). The company formulates proposals to ensure that globalization and the new technologies are oriented towards human development and the quest for the common good of society is mandatory. This arises out of radical changes in the environment in which companies operate; brought about by globalization.
Leadership in the company is founded on ethical values that favors the development of a corporate culture in which honesty and fairness are the rule, mechanisms to avoid and resolve disputes are in operation and management transparency and independence of judgment is encouraged (Lockwood, 2005). The company promotes an attitude favorable to the common good by using it’s distinctive competencies to find new solutions to social problems, by proposing business solutions as models applicable in other spheres of society and by fostering individual and group initiatives.