Examining the Impact of Organisational Values on Corporate Performance in Selected Ghanaian Companies

Abstract

One of the hallmarks of leading-edge organisations is the strict adherence to their core values. Organisational values are seen as the constant passionate beliefs that drive the behaviour of its people. All organisations have values, whether formally articulated or not. The companies that are classified as high performs are assumed to have a strong value-driven culture and their core values guide the decisions and actions of organizational members. In light of the above, this study sought to identify the values espoused by selected Ghanaian organisations, how the values are lived out, and the factors that hinder firms in the process of living out their core values. This study uses a hybrid of quantitative and qualitative research methodologies. It used a cross-sectional survey technique as well as critical instance case study approach. Ghanaian firms espoused values such as focus on quality, the customer firs ethos, team work, being innovative, flexibility, and trust. In living their core values, firms often integrated these into their company’s vision and mission statement, communicated them to organizational members, and ensured that behaviours of members are value congruent. However, the study also found that employee attitudes, organizational communication gap, lack of motivation, and favouritism on the part of management are some of the factors that hinder firms as they desire to live out their core values.

Only seven organisations were selected from four sectors of the Ghanaian economy based on their willingness to take part in the study. Future research should expand the sample size to test and validate the findings of this study and also investigate the role of managerial values in the formulation of organisational values. Also, a study of this kind could consider only senior managers and middle level managers as respondents to avoid the confusion of some junior staff who struggle with the meaning of a number of the concepts addressed. The value of this research is that this topic, that is, identification and degree of practice of core values in Ghanaian firms, is the first of its kind, and will be of interest to managers, organisational members and stakeholders.