Define the following terms: Corporate Culture

Culture is a complex system with a multitude of interrelated processes and mechanisms based on which the organisation functions. It includes vision/mission of the organisation, work flow process, communication mechanism, formal procedures, informal practices, strategy setting mechanism and so on. Corporate Culture is embedded deeply in the organization and in the behaviour of the people there. It is not necessarily equal to the image the company gives itself in brochures and on the website. Therefore, it is difficult to determine an organization's culture from the outside. Corporate culture influences the performance of an organization, since it determines Style of tackling problems Method or style of communication Adaptability of employees Organization commitment to strategies and ultimately to vision and mission etc. Style of organizational functioning Adaptability of people to changes The way people interact with each other The way the organization interacts with stakeholders Level of commitment