Corporate Culture, rewards and incentives

Corporate culture is defined as the attitudes and behaviors that determines how an organization’s management executes objectives and strategy.  It is characterized by how the not only how the firm is operated, but by the performance of the business itself. The company Epic has a corporate culture that is embedded in its core values. Company culture is not only impactful but influential in the success and achievements.  Epic’s software system integrates its culture and values into it in order to drive their “Ten Commandment” principles into their employee’s work ethics. In building on the knowledge of your discussion, the role of information and operating systems helps to enable the personnel of an organization to carry out their roles in the strategic process efficiently.   Strategies cannot be executed well without a number of internal systems for business operations. Well-conceived operating systems can give an organization a competitive edge over their rivals because it can strengthen a company’s capabilities. Information systems need to carry five different areas: financial data, operations data, customer data, supplier/partner data, and employee data.  Performance indicators should be tracked and monitored in real time such as key performance indicators, gathering information from operating personnel, identifying issues,  and taking corrective actions over operations (Thompson, 2018).

Corporate culture is a set of norms and values that  are strongly held and widely shared throughout a business. They can play a role in the social control and help in aiding in the issues of incentive. A company that holds integrity highly can have a strong influence on the organization’s efficiency and profitability.  It is an integral feature within strong organizations that use this as a way to not only be more productive, but more profitable, and better performance. It can help by lowering internal transaction costs.  For example, they can focus on the employee and managerial behaviors compared to the organization’s performance outcomes.  It is important for businesses to have these values in place in order to have a strong foundation to grow upon (Jiang, Kim, Ma, Nofsinger, & Shi, 2019). 

References

Jiang, F., Kim, K. A., Ma, Y., Nofsinger, J. R., & Shi, B. (2019). Corporate Culture and Investment-Cash Flow Sensitivity. Journal of Business Ethics 154 (2), 425–39. http://www.freemanagementresources.com

Thompson. (2018). Crafting & Executing Strategy: The Quest for Competitive Advantage 21st ed. McGraw-Hill ISBN: 9781259732782.
http://www.freemanagementresources.com