The Importance of Corporate Culture in International Market

Paschaloudis-Haidos-Pantelidis- Anastasiadou-Dapis, 656-667

“The Importance of Corporate Culture in International Market: The case of Procter & Gamble”
Dr D. Paschaloudis, K.Anastasiadou Technological Educational Institute of Serres Department of Business Administration, Greece [e-mail], [e-mail] S. Haidos University of Sunderland, Business School U.K [e-mail] Dr P. Pantelidis Technological Educational Institute of Serres Department of Business Administration, Greece [e-mail] A. Anastasiadou Technological Educational Institute of Serres, Liaison office between higher education, industry and market [e-mail] D. Dapis Technological Educational Institute of Serres Department of Accounting, Greece

Abstract Many academics argue that corporate culture constitutes a vital factor for the organizational performance. The specific research focuses on the called “behavioral side” of organization and management in general. This managerial approach supports that the difference between high performing and lower performing organizations is affected significantly from the Core values and Principles of their organizational/corporate culture. Studies from Pascale (1985) and Kotter & Heskett (1993) mentioned that the most usual reason for an organization’s failure is that they did not focused enough on their corporate culture. Porter (1979) argued that large, successful organizations simply respond to external markets and narrow forces based just on financial criteria such as: entry-barriers, market share and suitable policy against competitors. Firms like Wal-Mart and P&G become successful not only by following the factors that Porter (1979) suggested. Their competitive advantage in achieving this enormous performance seems to be its organizational/corporate culture. Using the qualitative case study method, in other words presenting the “Procter & Gamble” case study, the research will practically demonstrate how the strong culture of

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