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Title: Organizational Culture and Performance in the Financial Services Sector
Authors: Tapera, Julius
Keywords: Organizational Culture
organizational performance
cultural web
Issue Date: May-2016
Publisher: TIJ Research Publications
Abstract: Peters and Waterman (1982:75-6), who once carried out a research in 62 American companies with outstandingly successful performance, drew some attention to the importance of organizational culture on performance: Without exception, the dominance and coherence of culture proved to be an essential quality of the excellent companies. Moreover, the stronger the culture and the more it was directed to the marketplace, the less the need was there for policy manuals, organizational charts, or detailed procedures and rules. In these companies, people way down the line know what they are supposed to do in most situations because the handful of guiding values is crystal clear,” Heller (1997:229), another researcher who studied the top European companies reiterated the remarkable importance of culture on organizational performance: “There is nothing accidental about cultural about cultural strengths… There is a relationship between an organization’s culture and its performance.” It is this relationship between corporate culture and organizational performance that has been affected by cultural transfer due to employee mobility within the financial services sector .The perpetuation of stable and strong cultures, which are ideal for excellent organizational performance, has therefore been a challenge in this industry, owing to the mobility of employees among organizations, which have diverse cultures.
ISSN: 978-981-07-8448-5
Appears in Collections:Department of Accounting and Finance

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