The implications of corporate culture on organisational performance in Zimbabwe: A case of First Capital Bank.

Abstract

The main objective of this study was to determine the implications of corporate culture on organisational performance at First Capital Bank in Zimbabwe. The study also aimed at determining corporate culture of First Capital Bank in Zimbabwe, how First Capital Bank has managed corporate culture in Zimbabwe, the implications of corporate culture on organisational performance of First Capital Bank in Zimbabwe and lastly the challenges faced by First Capital Bank in managing corporate culture. The research study was quantitative based and it was adopted a positivist philosophy. The study was based on a case study of First Capital Bank in Zimbabwe and respondents were chosen randomly. Thus, stratified random sampling was used to select respondents, the branches formed the strata. Data was collected through the use of survey questionnaires with closed ended questions. Data was analyzed using Statistical Package for Social Sciences (SPSS) and Microsoft Excel packages and information was presented in tables, scree plots, pie charts and bar graphs. The study found out that there is a good corporate at First Capital Bank. First Capital Bank is sensitive to corporate cultural issues and employees enjoy working with cross culture teams. The bank believes in teamwork, flexibility and openness. First Capital Bank has successfully managed its corporate culture and this was possible through: acceptance of workforce diversity, empowering through delegation, encouraging creativity and innovation, concern for learning, quality and feedback.Corporate culture has a significant impact on organisational performance at First Capital Bank in Zimbabwe. Corporate culture management therefore plays an important role at First Capital Bank. First Capital Bank is successfully managing its corporate culture however there are challenges being faced. These challenges include: employees putting self-interest first instead of group interests, employees not able to stick to their groups in difficult times, individual rewards more important to individuals than group welfare, individual success more important to individuals than group success, employees pursue their individual goals before considering group welfare and it is difficult to encourage group loyalty when individual goals are suffering. It is recommended that First Capital Bank needs to maintain or improve its good corporate culture. First Capital Bank needs to keep managing corporate culture well and continuously improve its corporate culture management tools. It is also recommended that First Capital Bank continuously invest in corporate culture management as it significantly affects the organisational performance of the bank. First Capital Bank need to continuously try to lower the corporate culture management challenges.