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Lecture 21

MGT 201 Lecture 21: Lecture21

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The College of New Jersey
MGT 201

Lecture 21 Chapter 8 – Organizational Culture • What is Culture? o The way individuals in an organization uniquely and collectively think, feel, and act ▪ Provides employees with a road map and a set of rules for how work gets done and how people interact in the firm ▪ Responds to humans’ basic need for stability, consistency, and meaning ▪ Needs to be externally relevant to ensure that the firm operates successfully as its environment changes • Understanding Culture: o Deciphering the roots of a firm’s culture ▪ An appreciation of its values and philosophy or purpose ▪ An understanding of the group’s boundaries ▪ An understanding of its power structure ▪ An understanding of its work rules and norms ▪ An evaluation of its reward and punishment system • How Does Culture Affect Performance? o A strong culture: ▪ Can lead to better levels of performance, higher financial metrics, and distinctive competitive advantage ▪ Promotes ethical guidelines that define acceptable and unacceptable behavior, helping the organization require less coordination and monitoring ▪ Clarifies roles by being explicit about what is expected in an organization o Subcultures: cultures that form around geographic or organizational units in a company • The Impact of Values on Culture: • Levels of Organi
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