THE IMPACT OF CORPORATE CULTURE ON THE EFFECTIVENESS OF AN ORGANIZATION: PROSPECTS AND RISKS

This article explores the significance of corporate culture in modern business. The introduction provides an overview of the topic and formulates the purpose of the research. Next, the definition of corporate culture is analyzed, including its concept, components and role in the life of an organization. The impact of corporate culture on business performance is then examined, identifying both positive and negative aspects such as employee motivation and possible conflicts. The impact of corporate culture on organizational competitiveness is then discussed, including brand building, attracting talent and driving innovation. Corporate culture is a critical intangible resource that significantly impacts the overall performance of organizations in developing countries. Therefore, this study focuses on the energy sector in these countries to evaluate the influence of corporate culture on performance. The factors that shape corporate culture such as leadership, values and organizational structure are then discussed. The article also presents examples of successful corporate cultures as well as strategies for strengthening and changing corporate culture. The conclusion summarizes and draws conclusions about the importance of corporate culture in achieving organizational effectiveness and competitiveness. There are different approaches to assessing the impact of corporate culture on the economic performance of a company: combining assessment algorithms allows making more valid conclusions. At the same time, the impact of corporate culture on the economic and socio-psychological performance of the company is investigated.