Final answer:
A narrative that reinforces an organization's values by detailing its history and is repeated by its members is known as a story, serving a similar function to rituals in a cultural or religious context.
Step-by-step explanation:
A narrative about the company's history that is repeated by an organization's members in order to emphasize a particular value is typically known as a story. This element of organizational culture is used to reinforce the company's values and mission by transmitting key messages through a relatable and often repeated narrative. For instance, in the world of business, such stories might recount the founding of the company, pivotal moments of change or decision, or examples of the company's values in action. These stories embed the organizational culture within the minds of employees and stakeholders.
Ranging from the creation of Dreamtime among the Indigenous Australian peoples to the rituals performed to celebrate various rites, including rites of intensification, rites of passage, and rites of affliction, the concept of a narrative passed down through generations is a common thread in many cultures. A story can thus serve both as a method for encoding historical and cultural information and as a way to engage in a ritual that connects people to their past and to each other. The functions stories serve in an organization are akin to those in religious or cultural rituals, wherein they have deep-rooted symbolic meanings and help form and maintain a collective identity.