Corporate Culture: A Competitive Advantage

726 Words Jan 16th, 2018 3 Pages
In this, the organizational culture is something taught to new employees, shared, and a way of "doing business" that is based upon generally accepted practices for that particularly organization (Schein, 1992, p. 12). Too, the 21st century has embraced globalization bringing the world closer in economics, politics, communication and particularly, business. The changing demands and expectations of global stakeholders cause an organization's culture to also evolve, particularly in the nature of embracing cultural and stylistic differences (Trebing and Estabrooks, 2005). Only in this way, notes a recent study, will companies be able to appropriately compete in the modern world (Mahrokian, et al., 2010).
The idea of effective market competition has been ingrained in the capitalistic system for centuries. To be a viable market, most economists believe there should be appropriate competition. There are several conditions that must occur, however, to reach this market goal: 1) Quantity of businesses there should a number of firms in the market, ideally at a similar sales level; 2) Entry and exit into and out of the market should be relatively…
Open Document