3. How do you understand the term 'company culture'? What issues should be included into it?

A culture is the values and practices shared by the members of the group. Company Culture, therefore, is the shared values and practices of the company's employees.

Company culture is important because it can make or break your company. Companies with an adaptive culture that is aligned to their business goals routinely outperform their competitors. Company cultures evolve and they change over time. As employee leave the company and replacements are hired the company culture will change. If it is a strong culture, it may not change much.

Here are some characteristics of company cultures that others have used successfully.

· Mission clarity

· Employee commitment

· Fully empowered employees

· High integrity workplace

· Strong trust relationships

· Highly effective leadership

· Effective systems and processes

· Performance-based compensation and reward programs

· Customer-focused

· Effective 360-degree communications

· Emphasis on recruiting and retaining outstanding employees

· High degree of adaptability

· High accountability standards

· Demonstrated support for innovation and development