Corporate Culture as a Foundation for Effective Entrepreneurship

Abstract

The article discusses the concept of "corporate culture". Its key features and hallmarks have been examined. The emphasis is laid on a strong effect of corporate culture on the competitive performance and efficiency of a company. It also describes the relationship between leadership and the corporate culture formation. Regarding corporate culture as a strategically significant intangible resource of entities, modern researchers note the need to identify and study this phenomenon. The sustainable nature of culture makes it possible to distinguish one culture from another. Culture tends to bring momentum with it that guides the patterns change. Corporate culture is expressed in behaviour, for instance, cleanliness, helpfulness and friendliness in a company. The best organizations have a culture that emphasizes serving the others, especially clients. Such cooperatives underline high moral and ethical values such as honesty, reliability, fairness. The development of integrated approaches to the exploration of corporate culture, the use of new methods for collecting and analysing information that allow measuring the impact of corporate culture on employees' motivation, the efficiency of business processes and the outcomes of a company's economic activities are gaining increasing relevance and set the direction for the development of this academic field. The strategy provides for clarity and purposefulness of collective actions and decision making. It relies on plans and sets of solutions to mobilize people and can often be backed by both specific rewards for achieving goals and the consequences of failing to meet those goals. Ideally, it also includes adaptive elements that can scan and analyse the external environment and sense when changes are required to maintain continuity and growth.