In: Economics
Introductions:-
Over the years, theories about microeconomics have extended their way, into understanding the behavior of a corporate entity and analyzing the impact of this behavior in terms of the profits which the firm is likely to make over a period of time respectively.
Corporate culture is an inclusive figure of the same. It refers to the set of beliefs and ideas which are followed from top to bottom (Structure) within an organization.
The culture is rapidly expressed in interactions between the companies employees and any stake holders outside the company also. Most companies prefer in integrated communication strategies to clearly display their ideology to all stake holders so that a clear and concise message goes out to the public about the nature of the business and the core values and ethics which drive business for the company respectively.
Case Specifics:-
The company which we have chosen for our analysis is Apple Inc. It is one of the best manufacturer of phones, laptops and other electronic equipment such as audio devices and wearable devices.
The company clearly represents its corporate culture of driving innovation and being high quality from every small and bid decision which it makes and communicates within the organization and to its customers.
The company has a high regard for creative and innovative people which are included in the team which is also inclusive in nature.
Further, each element of the companies communication strategy to the stake holders clearly demarcate it regarding innovation and technological advancement as the prime objective of the company along with the superior quality which the company offers. This culture has been well established and is clearly recognized and valued among loyal customers of the Company respectively.
Example:-
Apples cultural strategy of innovation and technological superiority is clearly demarcated from the moment we enter an apple store to the time we make the purchase and the final product which is handed out to us displays the same.
This strategy and culture has become the core of the company from its presentations which are given to the general public, to other interactions within the company also.
Conclusion
The benefits of having a cultural strategy are clearly demarcated by the companies example. It helps in creating a mindset in the minds of the employees which is finally handed out to the customers who increase their loyalty towards a brand thus creating better demand for the product. In economic terms, it helps in bringing more customers to the company and allows for profits to occur.
Further, having a positive culture has an important effect on the employees nature and confidence which is clearly depicted in Apples case and becomes the core values of operations that further help the company in its growth path.
Please feel free to ask your doubts in the comments section if any.