Final answer:
Corporate culture refers to shared practices, values, and beliefs within a business or organization. It involves observable artifacts, espoused values, and basic assumptions that shape employees' behaviors, company operations, and decision-making processes.
Step-by-step explanation:
Corporate culture, also referred to as organizational culture, is a system of shared beliefs, values, and practices that govern how people behave in a business or organization.
This includes the organization's visions, hierarchies, norms, and interactions among its members.
Observable artifacts, such as symbols, language, narratives, and practices are used to represent the underlying cultural assumptions of the organization.
Espoused values are the endorsed beliefs and concepts by the management or the entire organization, providing guidelines for employees' actions in various situations and information they should adhere to.
Basic assumptions typically remain unobservable and unquestioned, forming the foundation of the company's culture.
These aspects together determine the way a company operates and makes decisions. Different departments within one company may even develop their own subculture within the broader organizational culture.
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