Exploring Strategies to Establish an Effective Organizational Culture to Enhance Corporate Performance: A Proposed Business Model

Abstract

Maintaining an effective organizational culture within the corporate group is indeed a must to enhance organizational performance and shareholder return. A qualitative study is proposed to explore the prominent strategies that one corporate group deploys to establish an effective organizational culture to enhance performance. Denison's organizational culture model served as the theoretical underpinning for the study. The research problem of the study is, “What strategies do senior managers deploy to establish an effective organizational culture to enhance performance?”. The research problem is addressed through four research questions. The literature review of this study synthesizes the renowned literature pertaining to the role of organizational culture on business performance in a perspective of the corporate group. The literature review comprises various published sources on organizational culture, such as journals, periodicals, seminal books, and other published materials. An exploratory single-case study design is used for the study. A purposive sample of 20 senior managers from a leading corporate group in Sri Lanka participated in semi structured face-to-face interviews. The corporate group selected for the study has 47 companies which belong to six main sectors, as it is one of the largest corporate groups in Sri Lanka. The chosen participants conform the criteria of a minimum of 05 years of experience with strategies in establishing an effective organizational culture in the corporate group. The findings of this study would be useful to business managers in the corporate sector who face challenges in enhancing performance of their organizations. Moreover, this study would reveal a new model for business managers to enhance corporate performance by establishing an effective organizational culture.