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Abstract
This study is examined the relationship between organizational culture and corporate survival. The aim of the study is to examine the relationship between cultural value and corporate survival in selected oil service firms in Onne, to examine the relationship between cultural norms and corporate survival in selected oil service firms in Onne and to examine the relationship between cultural practices and corporate survival selected in oil service firms in Onne. In the course of carrying out the work, the primary and secondary source of data methods were adopted. The primary source has to do with structured and unstructured questionnaires, personal interviews, and observations; while the secondary data were sourced from text books, journals, interviews, internet materials, corporate magazines etc. The population of the is 108, the sample size of one eighty five (85) respondents was drawn from using the Yaro Yemen formula. The research question were analysed with the simple percentage while the research hypothese where analysed with chi-square. In our findings, it is revealed that there is a relationship between organizational culture and corporate survival. It is there recommended that organizations should adopt to culture that encourages a mechanistic structure should modify its structures to organic structure to foster innovation as this will improve product and develop new markets, in cases where organization culture must be changed, employees must first of all be notified and made to learn the modification of the old culture as this will affect their performance, organization culture must be binding on all members and staff of the company as this will encourage uniformity among members of the organization and these will enhance commitment and group efficiency and Initiating cross functional teams and increasing employee responsibility and authority should be encouraged as it will be adaptive to improve employee job performance.
Table of Contents
Title Page i
Declaration iii
Certification iv
Dedication v
Acknowledgements v
Abstract vii
Table of Contents viii
List of Tables x
List of Figures xi
CHAPTER 1 1
INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of the Problem 4
1.3 Objectives of the Study 4
1.4 Research Questions 5
1.5 Research Hypotheses 5
1.6 Significance of the Study 5
1.7 Scope and Delimitations of the Study 6
1.8 Limitation of the study 6
1.9 Definition of Related Terms 7
CHAPTER 2 9
LITERATURE REVIEW 9
2.1 Conceptual Framework 9
2.1.1 Concept of Organization Culture 9
2.1.2 Dimensions of Organizational Culture 12
2.1.3 Concept of Corporate Survival 12
2.1.4 Measures of corporate survival 13
2.1.5 Organizational Culture and Employee Performance 15
2.2 Theoretical Framework 16
2.2.1 Consistency Theory 17
2.2.2 Involvement Theory 17
2.2.3 Adaptability Theory 17
2.2.4 Mission Theory 18
2.3 Empirical Framework 18
CHAPTER 3 21
RESEARCH METHODOLOGY 21
3.1 Research Design 21
3.2 Population of the Study 21
3.3 Sample Size Determination 22
3.4 Sampling Techniques 23
3.5 Source and Method of Data Collection 23
3.6 Methods of Data Collection 24
3.7 Questionnaire Design 24
3.8 Data Analytical Techniques 24
3.9 Reliability and Validity 25
CHAPTER 4 27
DATA PRESENTATION AND ANALYSIS 27
4.1 Data Collection and Presentation 27
4.2 Data Analysis 28
4.3 Hypotheses Testing 32
4.4 Discussion of Findings 35
CHAPTER 5 37
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 37
5.1 Summary 37
5.2 Conclusions 38
5.3 Recommendations 38
REFERENCES 40
Appendix i 41
Appendix ii 42
List of Tables
Table 4.1: Questionnaire Administration and Retrieval 27
4.2 Data Analysis 28
Table 4.2: showing the age of respondents 28
Table 4.3: Showing the Sex of Respondents 28
Table 4.4: Showing the Educational Qualification of the Respondents 29
Table 4.5: Showing the Marital Status of Respondents 29
Table 4.6: Cultural value enhance corporate survival oil service firms in 30
Table 4.7: Cultural norm promote corporate survival oil service firms in Onne. 30
Table 4.8: cultural practices influence corporate survival oil service firms in Onne 31
List of Figures
Fig. 2.1: A Conceptual Framework on showing the relationship between Organizational Culture and corporate survival………………………………9
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
The existence, survival, growth and stability of any corporate body is highly dependent on the efficiency and effectiveness of its management. This is measured by the ability of the organization’s management to combine all the necessary material for optimal and efficient actualization of their set objectives within the stipulated time. In any organization, cash forms the life wire, which determines to a large-extent, its growth, existence and survival among other competing firms. As a result, it becomes imperative for the management of any organization to give a close attention to the management of working capital if they want to stand the test of time. The management decides the best proportion of its investment on both fixed and current assets and finally her liability level to enable improvement and correction of imbalances in the liquidity position of the firm. Most organizations believe in profitability, but it is generally accepted that liquidity is more important for survival and growth. The reason behind this premise is that most organizations make profit but do not posses enough or adequate, liquid asset to off-set current obligations. However, this inability to make payment at when due may definitely have serious consequences on the organization financial growth. Weak liquidity makes it unsafe and unsound for the survival of the company but all it takes is efficient and effective management. Efficiency means doing something with little or no wastage especially in terms of time, energy and money. In other words, it is the achievement of great task with less than the proportionate factor input. According to Okafor and Udu (2002, p. 84), “Efficiency is the ability to work well without wasting time and resources.” Also, Horby (2000) stated that efficiency is doing something well and thoroughly with no waste of time, money or energy. This is to say that the achievement outcome is far greater than the resources put in to achieve the defined outcome. Efficient working capital management involves the mix of the current assets, current liabilities and fixed assets of the business in order to meet up with the day to day need of the business in question or in order words to keep the business going with less waste especially in terms of time, energy and goodwill. Nwankwo (2005) opined that efficient working capital is based on the decision of the management of the company in determining the volume of current assets over current liabilities that the company is prepared to have in the company’s balance sheet. Ibenta (2005, p. 406) further defined working capital management as “all aspects of the administration of both current assets and current liabilities. It is the firms’ investment in short term assets cash, short term securities, account receivable and inventories.
Corporate survival has been the most interesting topics for organizations over the years. Organizations exist to survive in the midst of environmental factors that tend to encroach on business performance. Organizations attempt to maintain the existing state of affairs, but essentially the larger part of their efforts is tilted toward survival (Mindy, 1998). The competition in the industry is getting stronger and firms are adopting different strategies to be competitive in the industry. Surviving is the global struggle to meet with increasing demand on firms in the market place has seen many researchers and academicians having a resort to pay attention to the individual employees in the organization since innovation in product and services are brought about by these individuals.
Organizational culture as defined by Uttal (1983) is a system of shared values (what is important) and beliefs (how things work) that interact with a company’s people, organization structures, and control systems to produce behavioral norms (the way we do things around here). Similarly, Sun (2008) defines organizational culture as the “set of theory” of important values, beliefs, and understandings that members share in common, which help managers to make decision and arrange activities of the organization.
Organizational Culture Gordon and DiTomaso (1992) define the organizational culture as the shared and constant beliefs and values that are improved within a company across periods. Kim, Lee, and Yu (2004) define the corporate cultur as “the shared values and norms of the organization’s members” (p.341). Additionally, Ravasi and Schultz (2006) define the organizational culture as a group of shared mental suppositions that direct interpretation and business in companies by determining the proper behavior for different situations. Specifically, it is “influencing the firm’s orientation towards the responsible treatment of stakeholders” (Galbreath, 2010 p.511).The organizational culture is briefly defined as the main suppositions about the world and the values that direct life in companies (Schneider, Ehrhart, & Macey, 2013). According to Kalyar, Rafi, and Kalyar (2013), the organization’s culture refers to the values, beliefs and suppositions that the organization’s members perceive of the company. Although there is no standard definition for the organizational culture, many scholars mention that the organizational culture is something that is “holistic, historically determined by founders or leaders. It is related to things that anthropologists study like rituals and symbols, socially constructed (created and preserved by the group of people who together form the organization), which is, soft, and difficult to change” (Abu-Jarad, Yusof, & Nikbin, 2010 p.34).
1.2 Statement of the Problem
For an organization, employee is its basic constituent units, and culture is the common value and code of conduct shared by the employees. It could give can provide employees with a relaxed working environment with harmonious interpersonal relationships in order to give full play to their ability. A corporate culture allows employees to have a sense of mission and feel responsibility, and work towards the overall goal of the company. The competitiveness of enterprises is not only reflected in the technology, but also in their corporate culture. A positive organizational culture can promote healthy development of an enterprise, and actively mobilize the performance of employees, and make them work with more enthusiasm. Move over, it may improve production efficiency. In short, the benefits of a positive organizational culture are self evident. The priority of an enterprise is to increase the loyalty of its customer base. Therefore, a good corporate image must be established. In other words, a good corporate image brings good economic returns, and a good corporate image is dependent on good organizational culture.
1.3 Objectives of the Study
The main objectives of this study are to examine the relationship between organizational culture and corporate survival in oil servicing firms in Onne. The Specific objectives are as follows:
1. To examine the relationship between cultural value and corporate survival in selected oil service firms in Onne.
2. To examine the relationship between cultural norms and corporate survival in selected oil service firms in Onne.
3. To examine the relationship between cultural practices and corporate survival selected in oil service firms in Onne.
1.4 Research Questions
The following research questions are posed to guide this study as follows:
1. To what extent does cultural value enhance corporate survival in selected oil service firms in Onne?
2. To what extent does cultural norm promote corporate survival in selected oil service firms in Onne?
3. To what extent does cultural practices influence corporate survival in ` selected oil service firms in Onne?
1.5 Research Hypotheses
The following hypotheses were formulated to guide the study:
Ho1: There is no significant relationship between cultural value and corporate survival in selected oil service firms in Onne.
Ho2: There is no significant relationship between cultural norm and corporate
Survival in selected oil service firms in Onne.
Ho3: There is no significant relationship between cultural practices and corporate survival in selected oil service firms in Onne.
1.6 Significance of the Study
This study is important because, it will expose students, and other academicians to the concept and principles of organizational culture and its effect on organizational variables.
This study will aid business managers and other corporate bodies to come to terms with organizational cultural influences and the best possible way to align them to the best interest of the organization.
It will also be useful to other researchers, students and the general public.
1.7 Scope and Delimitations of the Study
The scope of this study is delimited into the followings:
1. Content Scope: The specific areas of corporate survival the study investigated include; Increased Sales, Increased capital size and Innovation. Whereas the areas of organizational culture includes value, norm and practices.
2. Geographical scope: This study covers an examination of strategic contributions of organizational culture on the corporate survival in selected oil servicing firms in Onne.
3. Unit of Analysis: This is a macro study because it is interested in ascertaining the effectiveness of an organization in this direction.
1.8 Limitation of the study
In carrying out this research work, the researcher was constraint by lot of factors which include but not limited to the following:
Time Constraint: The time frame provision for this study was short.
Financial Constraint: Usually, a study of this nature involved some level of expenditure; therefore, finance was also a limiting factor.
1.9 Definition of Related Terms
INCREASED CAPITAL Size: Capital size is the total amount of stock, both common and preferred, that a public company has the authorization to issue. Capital size is the number of shares that can ever be outstanding or held by shareholders.
INCREASED SALES: The amount by which the average sales volume of a company’s products or services has grown, typically from year to year. Sales Growth is the parameter which is used to measure the performance of the sales team to increase the revenue over a pre-determined period of time.
INNOVATION: As the successful introduction of a better thing or method. It is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, processes, or services.
Norms: Values and norms (sometimes moral values and norms) is a term used to describe the basic pillars of the organizational culture. These are unwritten rules and principles of behavior – some level of awareness of corporate culture. These are facts that are in the organization and considered relevant and important.
Organization Culture: It is literally described by many researchers in diverse studies for various measures. Culture is critical to understanding any society or group. Through the process of socialization individuals bring into groups. Groups have the capacity to shape, influence, and determine group members’ outlooks, viewpoints, outputs, attitudes and indeed behaviors.
Practices: Organizational Practices are located immediately outside of the Core Culture. They are not the elements of Core Culture; they are the behaviors that convert ideals to actions which keep the culture alive.
Values: Every organization has a set of values, whether or not they are written down. The values guide the perspective of the organization as well as its actions. Writing down a set of commonly-held values can help an organization define its culture and beliefs.
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