The role of corporate culture in economic development of small and medium-sized enterprises
Abstract
Achieving economic development of the enterprise is enabled by the efficient use of resources, efficient processes and, last but not least, a suitable corporate culture. Under the influence of a dynamically changing business environment, corporate culture is gaining in importance and justification. It needs to be monitored and evaluated together with “hard” business indicators. The research explores the key values that should be applied in corporate culture at the strategic level to support the economic development of small and medium-sized enterprises. The differences between small and medium-sized enterprises operating in the industrial sector in Slovakia are defined. As managers have a direct impact on the creation of corporate culture, their preferences regarding corporate culture are examined, using the methodology of Cameron and Quinn. The results of the research prove the preference for applying key values typical for a clan culture. Following the results, it is recommended managers to focus on supporting a clan culture that develops employees. It is the employees who create and build values, bring new, innovative ideas, and with their abilities and skills influence the performance, competitive advantage, economic development, and success of the entire enterprise as well as economic development of small and medium-sized enterprises.
First published online 02 December 2021
Keyword : economic development, small and medium enterprises, corporate culture, strategy in corporate culture, the methodology of Cameron and Quinn, Tukey’s HSD test, the clan corporate culture
How to Cite
Lorincová, S., Miklošík, A., & Hitka, M. (2022). The role of corporate culture in economic development of small and medium-sized enterprises. Technological and Economic Development of Economy, 28(1), 220–238. https://doi.org/10.3846/tede.2021.15983
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Anguelov, K., & Angelova, M. (2021). Home office effects on the motivation of ict companies’ employees. Entrepreneurship and Sustainability Issues, 8(4), 10–28. https://doi.org/10.9770/jesi.2021.8.4(1)
Arijs, D., Botero, I. C., Michiels, A., & Molly, V. (2018). Family business employer brand: Understanding applicants’ perceptions and their job pursuit intentions with samples from the US and Belgium. Journal of Family Business Strategy, 9(3), 180–191. https://doi.org/10.1016/j.jfbs.2018.08.005
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Belias, D., Koustelios, A., Vairaktarakis, G., & Sdrolias, L. (2015). Organizational culture and job satisfaction of Greek banking institutions. Pro-cedia – Social and Behavioral Sciences, 175, 314–323. https://doi.org/10.1016/j.sbspro.2015.01.1206
Berrio, A. A. (2003). An organizational culture assessment using the competing values framework: A profile of Ohio state university extension. Journal of Extension, 41(2).
Caliskan, A., & Zhu, C. (2019). Organizational culture type in Turkish universities using OCAI: Perceptions of students. Journal of Ecudation Culture and Society, 10(2), 270–292. https://doi.org/10.15503/jecs20192.270.292
Cameron, K. S., & Quinn, R. E. (1999). Diagnosing and Changing organizational culture based on the competing values framework. Addison – Wesley, Reading, UK.
Chen, S. H., Xu, L. L., & Jebran, K. (2021). The effect of Confucian culture on corporate tax avoidance: evidence from China. Economic Re-search-Ekonomska Istrazivanja, 34(1), 1342–1365. https://doi.org/10.1080/1331677X.2020.1825105
Davidescu, A. A. M., Roman, M., Strat, V. A., & Mosora, M. (2019). Regional sustainability, individual expectations and work motivation: A multilevel analysis. Sustainability, 11(12), 3331. https://doi.org/10.3390/su11123331
Davidescu, A. A., Apostu, S. A., Paul, A., & Casuneanu, I. (2020) Work flexibility, job satisfaction, and job performance among romanian emp-loyees-Implications for sustainable human resource management. Sustainability, 12(15), 6086. https://doi.org/10.3390/su12156086
De Waal, A., Linde, P., & Broekhuizen, M. (2017). Do different generations look differently at high performance organizations? Journal of Strate-gy and Management, 10(1), 86–101. https://doi.org/10.1108/JSMA-10-2015-0083
Deal, T., & Kennedy, A. (1982). Corporate cultures. Punguin books.
Debski, M., Cieciora, M., Pietrzak, P., & Bolkunow, W. (2020). Organizational culture in public and non-public higher education institutions in Poland: A study based on Cameron and Quinn‘s model. Human Systems Management, 39(3), 345–355. https://doi.org/10.3233/HSM-190831
Demski, D., Van Ackeren, I., & Clausen, M. (2016). The interrelation of school culture and evidence-based practice – Findings of a survey using the Organizational Culture Assessment Instrument. Journal for Educational Research Online-Jero, 8(3), 39–58.
Denison, D. R., & Spreitzer, G. M. (1991). Organizational culture and organizational development: A competing values approach. Research in Organizational Change and Development, 5, 1–21.
Diedrich, M. (2017). Adapting a corporate culture to the changing circumstances – cultural change through social media. Marketing Science & Ins-pirations, 12(1), 2–9.
Dostiyarova, A. (2016). Students’ perception of organizational culture at Kimep Universtiy based on OCAI instrument. Bulletin of the National Academy of Sciences of the Republic of Kazakhstan, 3, 89–94.
Fernandez, R., & Fogli, A. (2009). Culture: An empirical investigation of beliefs, work, and fertility. American Economic Journal: Macroecono-mics, 1(1), 146–177. https://doi.org/10.1257/mac.1.1.146
Guiso, L., Sapienza, P., & Zingales, L. (2015). The value of corporate culture. Journal of Financial Economics, 117(1), 60–76. https://doi.org/10.1016/j.jfineco.2014.05.010
Ha, V. D. (2020). Impact of organizational culture on the accounting information system and operational performance of small and medium si-zed enterprises in Ho Chi Minh City. Journal of Asian Finance Economics and Business, 7(2), 301–308. https://doi.org/10.13106/jafeb.2020.vol7.no2.301
Handy, C. (1985). Unterstanding organizations. Penguin Books.
Harrison, R. (1972). How to develop your organization. Harvard Business Review, 118–128.
Hartnell, C. A., Ou, A. Y., & Kinicki, A. (2011). Organizational culture and organizational effectiveness: A meta-analytic investigation of the com-peting values framework’s theoretical suppositions. Journal of Applied Psychology, 96(4), 677–694. https://doi.org/10.1037/a0021987
Hedvicakova, M., & Kral, M. (2021). Performance evaluation framework under the influence of industry 4.0: The case of the Czech manufacturing industry. E & M Ekonomie a Management, 24(1), 118–134. https://doi.org/10.15240/tul/001/2021-1-008
Ibarra-Michel, J. P., Velarde-Valdez, M., Olmos-Martinez, E., & Santillan-Nunez, M. A. (2019). Organizational culture assessment of sustainable hotel companies in Mazatlan; four case studies. Investigaciones Turisticas, 17, 71–102. https://doi.org/10.14198/INTURI2019.17.04
Jaeger, M., & Adair, D. (2013). Organisational culture of construction project managers in the GCC countries. Engineering, Construction and Architectural Management, 20(5), 461–473. https://doi.org/10.1108/ECAM-01-2012-0004
Kets De Vries, M. F. R., & Miller, D. (1984). The neurotic organization: Diagnosing and changing counterproductive styles of management. Jossey-Bass, San Francisco, USA.
Kotter, J. P., & Heskett, J. L. (2011). Corporate culture and performance. The Free Press, New York, USA.
Kraśnicka, T., Glod, W., & Wronka-Pośpiech, M. (2018). Management innovation, pro-innovation organisational culture and enterprise perfor-mance: Testing the mediation effect. Review of Managerial Science, 12, 737–769.
Lee, M., & Kim, H. (2017). Exploring the organizational culture’s moderating role of effects of corporate social responsibility (CSR) on firm per-formance: Focused on corporate contributions in Korea. Sustainability, 9(10), 1883. https://doi.org/10.3390/su9101883
Lim, B. T. H., Wang, Z., & Oo, B. L. (2016). Change management for sustainable competitive advantages: The roles of organisational culture and employees in the Chinese construction firms. International Journal of Sustainable Building Technology and Urban Development, 7(3–4), 230–236. https://doi.org/10.1080/2093761X.2017.1302842
Linnenluecke, M. K., & Griffiths, A. (2010). Corporate sustainability and organizational culture. Journal of World Business, 45(4), 357–366. https://doi.org/10.1016/j.jwb.2009.08.006
Lizbetinova, L. (2014). The quality of communication in the context of regional development. Deturope-The Central European Journal of Regional Development and Tourism, 6(3), 22–38.
Lobos, K., Malatek, V., & Szewczyk, M. (2020). Management practices in area of human resources and monitoring results as determinants of SME’s success in Poland and the Czech Republic. E & M Ekonomie a Management, 23(2), 114–125. https://doi.org/10.15240/tul/001/2020-2-008
Lorincova, S., Hitka, M., & Balazova, Z. (2016). Corporate culture in Slovak enterprises as a factor of HRM quality – case study. International Journal for Quality Research, 10(4), 719–732. https://doi.org/10.18421/IJQR10.04-04
Miles, R., Snow, C. C., Meyer, A. D., & Coleman, H. J. Jr. (1978). Organization strategy, structure, and process. The Academy of Management Review, 3(3), 546–562.
Mohelska, H., & Sokolova, M. (2018). Management approaches for industry 4.0-the organizational culture perspective. Technological and Eco-nomic Development of Economy, 24(6), 2225–2240. https://doi.org/10.3846/tede.2018.6397
Naranjo-Valencia, J. C., Jiménez-Jiménez, D., & Sanz-Valle, R. (2016). Studying the links between organizational culture, innovation, and perfor-mance in Spanish companies. Revista Latinoamericana de Psicología, 48, 30–41. https://doi.org/10.1016/j.rlp.2015.09.009
O’Reilly, C. A., & Chatman, J. A. (1996). Culture as social control: Corporations, culture and commitment. In B. M. Staw and L. L. Cummings (Ed.), Research in organizational behavior (pp. 157–200). JAI Press.
Purvis, B., Mao, Y., & Robinson, D. (2019). Three pillars of sustainability: in search of conceptual origins. Sustainability Science, 14, 681–695. https://doi.org/10.1007/s11625-018-0627-5
Quinn, R. E., & Rohrbaugh, J. (1983). A spatial model of effectiveness criteria: Toward a competing values approach to organizational analysis. Management Science, 29, 363–377. https://doi.org/10.1287/mnsc.29.3.363
Rezaei, G., Mardani, A., Senin, A. A., Wong, K. Y., Sadeghi, L., Najmi, M., & Shaharoun, A. M. (2016). Relationship between culture of excel-lence and organisational performance in Iranian manufacturing companies. Total Quality Management and Business Excellence, 29(1–2), 94–115. https://doi.org/10.1080/14783363.2016.1168692
Salama, A., & Oláh, J. (2019). Key factors affecting unemployment in the Arab world. Central European Journal of Labour Law and Personnel Management, 2(2), 60–72. https://doi.org/10.33382/cejllpm.2019.03.05
Smaliukiene, R., & Bekesiene, S. (2020). Towards sustainable human resources: How generational differences impact subjective wellbeing in the military? Sustainability, 12(23), 10016. https://doi.org/10.3390/su122310016
Soewarno, N., & Tjahjadi, B. (2020). Eco-oriented culture and financial performance: Roles of innovation strategy and eco-oriented continuous improvement in manufacturing state-owned enterprises, Indonesia. Entrepreneurship and Sustainability Issues, 8(2), 341–359. https://doi.org/10.9770/jesi.2020.8.2(20)
Sonnenfeld, J. A. (1988). The hero’s farewell: What happens when CEOs refire. Oxford University Press.
Stachová, K., Stacho, Z., & Pajtinková Bartáková, G. (2015). Influencing organisational culture by means of employee remuneration. Business: Theory and Practice, 16, 264–270. https://doi.org/10.3846/btp.2015.492
Statistical Office of the Slovak Republic. (2018). Štatistická ročenka Slovenskej republiky (Statistical Yearbook of the Slovak Republic). VEDA.
Teräväinen, V. J., & Junnonen, J. M. (2019). The promoters and the barriers for organizational culture change in a Finnish construction company. Construction Innovation – England, 19(4), 672–688. https://doi.org/10.1108/CI-04-2019-0029
Teräväinen, V. J., Junnonen, J., & Ali-Löytty, S. (2018). Organizational culture: Case of the finnish construction industry. Construction Economics and Building, 18(1), 48–69. https://doi.org/10.5130/AJCEB.v18i1.5770
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