THE RELATIONSHIP BETWEEN CORPORATE CULTURE AND PROFITABILITY IN MODERN BUSINESS
Ramin Tsinaridze
E-mail:ramin.tsinaridze@bsu.edu.ge
Associate Professor, Batumi Shota Rustaveli State University
Georgia, Batumi
https://orcid.org/0000-0002-0444-9740
Lasha Beridze
E-mail: lashalasha0103@gmail.com
Professor, St. Tbel Abuserisdze University
Georgia, Shuakhevi
https://orcid.org/0009-0007-4733-2212
Giorgi Rizhvadze
E-mail: giorgirijvadze@gmail.com
PHD student of Business Administration, Batumi Shota Rustaveli State University
Georgia, Batumi
https://orcid.org/0000-0002-9750-4808
Salome Tchaghalidze
E-mail: salometchagalidze2000@gmail.com
MBA in Business Administration, Batumi Shota Rustaveli State University
Georgia, Batumi
Abstract: The purpose of the study. The study of corporate culture in the Georgian market by analyzing and assessing the relationship between corporate culture and business management issues, determining the importance of corporate culture as one of the necessary tools for increasing profitability.
Methodology/Approach. The methodological basis of the work is the fundamental research of economic science. The work uses Georgian and foreign scientific articles, works and studies, the material used in the scientific article is based on the data of the National Statistical Service of Georgia, the Center for International Management and Corporate Culture Development and Research.
The research used analytical (collection, summarization), analogies (comparison with foreign experience), correlation-regression and statistical methods. This study is also based on the generalization of the quantitative survey conducted by us (formulation of conclusions based on the results of the study).
Research objectives. The main objectives and hypotheses of the study can be formulated as follows: identification of factors affecting business profitability (profitability) and management according to corporate culture, analysis and comparison of international experience in this regard with the reality of Georgian business, determination of correlation analysis of the relationship between business profitability and corporate culture.
Practical value / results. The results and conclusions of the study can be used in higher education institutions as teaching materials. In addition, it will significantly assist business entities in establishing a well-organized corporate culture, addressing specific implementation issues, and increasing profitability.
Keywords: corporate culture, organizational culture, cost effectiveness, profitability, correlation.
JEL classification: M14; M16; D23; F23
Downloads
References
Cameron, K. S., Quinn, R. E. (1999). he Competing Values Culture Assessment, A Tool from the Competing Values Product Line. 1-14. Available at: https://www.boom.nl/media/8/-download_pdf_culture_assessment_workbook.pdf
Daniel, R.D., Haland, S., Goelzer, P. (2004). Corporate Culture and Organizational Effectiveness: Is Asia Different From the Rest of the WOLD? Organizational Dynamics, Vol. 33, No 1, 98-109. Available at: https://denisonconsulting.com/wpcontent¬/uploads/2019/05/denison-haaland-goelzer-2004.pdf
Gambashidze, T. (2019). Organizational Culture Formation and Security Trends. Tbilisi. 424-428; Available at: https://dspace.tsu.ge/server/api/core¬/bitstreams/87ea5ec5-5edc-43f8-a6c5-dc9099413314/content
Graham, R. J. (2022). Corporate Culture: Evidence from the fiend. Journal of Financial Economics. Available at: https://www.sciencedirect.com/science/article/pii/S0304405X-22001684
Harter, J., Asplund, J., Fleming, J.H,. (2004). HumanSigma: A Meta-Analysis - The Relationship between employee engagement, customer engagement and financial performance. Gallup Business Journal. Available at: https://www.gallup.com/workplace/236945/humansigma-meta-analysis.aspx-
Hofstede, G., Neuijen, B., Ohayv, D. D., Sanders, G. (1990). Measuring Organizational Culture: A qualitative and quantitative study across twenty cases. JSTOR, Vol.35, No.2. 286-316. Available at: https://research.rug.nl/en/publications/measuring-organizational-cultures-a-qualitative-and-quantitative-
Kotter, P. J, Heskett, L. J. (1992). Corporate Culture and Performance. Scientific Research An Academic Publisher. 1-205.
Kutateladze, G. (2015). Japanese Management and the Theoretical-Empirical Possibility of Its Transfer to Georgia. Tbilisi, 1-202. Available at: https://www.scribd.com/-document/504412642/%E1%83%98%E1%83%90%E1%83%9E%E1%83%9D%E1%83%9C%E1%83%A3%E1%83%A0%E1%83%98%E1%83%9B%E1%83%94%E1%83%9C%E1%83%94%E1%83%AF%E1%83%9B%E1%83%94%E1%83%9C%E1%83%A2%E1%83%98
Meyer, E. (2014). The Culture Map. Organizational culture criteria by country Publicaffairs.
Morgan, G. (1986). Images of Organization. 1-518. Available at: https://www.scribd.com/document¬/616187022¬/Images-of-Organization-Gareth-Morgan-z-lib-org
Paresashvili, N. (2010). Organizational Behavior. Part II. Tbilisi. 1-290.
Paresashvili, N., Avsajanashvili, E. (2024). The Role of Stress and Conflict Management in Su¬sta-inable Business Processes. Rural Environment. Education. Personality. ISSN 2661-5207 (REEP): proceedings of the 17th international scientific conference, Jelgava. 93-99. DOI: 10.22616/REEP.2024.17.010
Pirtskhalaishvili, D., Paresashvili, N., Kulinich, T. (2021). The gender aspects of career development and leadership in organizations. JOURNAL OF EASTER N EUROPEAN AND CENTRAL ASIAN RESEARCH Vol.8 No.2. 255-266. DOI: http://dx.doi.org/10.15549/jeecar.v8i2.654
Schein, E. H. (2010). Organizational Culture And Leadership. San Francisco, USA: Jossey-Bass. 1-457. Available at: https://ia800805.us.archive.org/9/items/EdgarHScheinOrganizational-CultureAndLea¬dership/Edgar_H_Schein_Organizational_culture_and_leadership.pdf
Tsinaridze, R., Rizhvadze, G. (2024). Renewable energies in the technological age and susta¬inable investment solutions for the "Smart future". Access to science, business, innovation in the digital economy, ACCESS Press, 5(3), 493-510, https://doi.org/10.46656/access.2024.5.3(7)
_(1).png){kind=small}
.svg_1.jpg){kind=small}
.png)
