Pump and Dump: The Rancid Rules of the New Economy
Mr. CEO was very efficient when he requested a report on the study of organizational culture in the company. The shared knowledge in an organization concerning the rules, norms and values that shape the attitude, and the behaviors of the organization’s employees are termed as the organizational culture. Organization culture has its components in the business that helps the culture to be successful in its functioning. In addition, organization should have a strong culture and try its best ways to maintain the culture of efficiency in the organization business performance. An organization also develops different steps to ensure that the newcomers in the group will easily fate themselves in the organization culture. The study of organizational culture and change is discussed based on the theories in chapter14 of Wolf of Wall Street video.
In this chapter, corporate culture has a number of facets that are derived from its definition, the key one being culture; that is the shared knowledge among the associates of the organization (Cameron11). Employees learn about the most vital aspects of the shared experience through other employees of the association. Moreover, culture being a common knowledge amongst the employees, this shows that members of the organization indeed understands and have a degree of consensus on the definition of culture. The second facet of the organizational culture is that culture informs the employees about the rules, norms, and values surrounding the organization and also helps the employees to answer some questions concerning the organization for instance; what kind of behaviors are appropriate or inappropriate at the workplace?
The last facet of organizational culture is that it natures and reinforces confident employees attitude and acts by creating a structure of control over all the employees in the organization(Tillman18).Organizations have three chief components concerning their culture, and they include; observable relics, adopted values, and fundamental underlying notion. Group culture components are usually compared with the theory of an onion since some components are readily visible and apparent; these are denoted to be the skin of the onion since people can observe and make their understanding of the organization. While the other components that are inside the organization remains to be a mystery and are referred to be the inner part of the onion since it is until they peel off the cover in order to gauge the values and assumption that are beneath the organization.
The first component that is the observable artifacts is manifested by the culture of the organization that the employees can easily see or talk about on their own. The artifacts supply the signals that are interpreted by the employees in order to gauge their personal behavior when working. In addition, the artifacts provide primary means of transmitting to the organization culture to its workforce. Artifacts are of different types that include; symbols that conveys the message to the people, physical structure; that are the buildings in the association and designs of the internal office. The last type of the artifacts is the rituals that are planned on weekly routines and practiced in the organization.
The other component is espoused values, which include beliefs, philosophies, and norms. These values are explicitly stated by the great organization of companies, for example of an espoused value is the one found in the corporate constitution of Calgary-based EnCana Corporation. The last component is the basic underlying assumption which are the fixed beliefs and attitudes that are ingrained in order for the employees to act upon them rather than basing their questions on validity of their behavior in a specified situation. The assumptions represent the deepest and the minimum visible part of the acquired knowledge, and it may not be apparent even to the organizational veterans.
The chapter14 of this movie describes organizational culture through its components and its culture along various dimensions (Harrison23). Organizations culture is characterized by two theories that are solidarity and sociability. The degree in which group members think and act similarly is termed as solidarity while sociability represents how employees show friendship to one another. On these two dimensions, lower organization experience both dimensions in a fragmented culture whereby employees are distant and disconnected from approaching each other. While, on that organization that has cultures in which employees think similarly, but they are unfriendly to each other, this culture is considered to be mercenary cultures and the organization are likely to be so political in nature.In addition, there is networked culture whereby employees are friendly to each other but thinks differently and does their work personally. The last organization culture is the communal culture in which the organizational is built of the friendly employees who have the same thoughts in their actions.
Not all organizations have high culture although most of the organization seems to strive for one culture. A high culture exists when its employees agree with the way things are supposed to run the organization, and their behavior should be subsequent to that expectation. Indeed, a high culture plays a role to unite and gives directions to the employees. Weak cultures originate due to disagreement among the employees on matters of how things are supposed to be done. This shows that it has nothing that it can add to the unity of the employees or even direct their attitudes and doings.
In accordance to the chapter14 of the video, a culture is tested when the founders of the organization and the original employees start to novice and hire fresh members (Robbins9). If these new employees fail to fit in the organization, the culture weakens or differentiates. Two theories that can conspire to keep the culture strong that is through attrition or socialization. For example, in ASA framework, states that potential members will be fascinated by the organization whose cultures matches their character. This means that the some potential job candidates would not smear due to perceived dearth of fit. On the other hand socialization that is defined as primary process through which employees learn the social knowledge that higher them the understanding and adoption of the organization culture. This knowledge aids the employee to adopt quickly and specialize in the organization culture more readily than other new members.
After cultures are established and maintained in an organization, they tend to persist over a long time until bad news concerning the culture may occur (Lewis46). The bad news can lead to the culture failing to fit in the organization. In order to change a culture, there is the primary process that involves three phases that include, unfreezing; initiative can be amended, and refreezing. These steps would be based on the problems associated with the culture for example, if it is about unfreezing, the issues concerning the customer’s complaints on the product quality should be checked since it may trigger awareness about the company’s culture problems.
In assumption, according to the Wolf of Wall Street, organization acquired knowledge extremely contributes to the efficiency and effectiveness of the organization. Organization culture theories aid the people to understand the organization since it conveys signals that are easily interpreted by the employees on their socialization. It would recommend that the company’s organizations to uphold their culture system since it equips the employees with excellent knowledge on their relationship with others in the workplace.
Cameron, Kim S, and Robert E. Quinn. Diagnosing and Changing Organizational Culture: Based on the Competing Values Framework. San Francisco, CA: Josser-Bass, 2011. Internet resource.
Harrison, J R, and Glenn R. Carroll. Culture and Demography in Organizations. Princeton [u.a.: Princeton Univ. Press, 2006. Print.
Lewis, Michael. Flash Boys: A Wall Street Revolt. , 2014. Print.
Robbins, Stephen P, Aletta Odendaal, and G Roodt. Organisational Behaviour: Global and Southern African Perspectives. Cape Town: Pearson Education South Africa, 2003. Print.
Tillman, Robert H, and Michael L. Indergaard. Pump and Dump: The Rancid Rules of the New Economy. New Brunswick, New Jersey: Rutgers Univ Press, 2008. Print.