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The Relationship among Corporate Culture, Strategic Orientation, and Financial Performance

Author

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  • Hyunjeong Spring Han

    (EM - EMLyon Business School)

Abstract

This study was conducted to suggest strategic orientations that can analyze which types of corporate culture and strategic orientation contribute to enhanced financial performance, based on the theory that, to acquire a competitive edge in the fierce competitive environment and maximize performance, the combination of corporate internal competitiveness and an appropriate action plan is crucial. The study shows that corporate culture does directly affect financial performance. However, for this group of Korean hotels, not all cultures performed equally. The transaction-oriented Market Culture did not promote financial performance, as compared to the family-oriented Clan culture or the innovative Adhocracy culture. The tradition-bound Hierarchical culture actually cost hotels in terms of financial performance. Certain strategic orientations moderated and improved financial results for some of the cultures, but not all. The opportunity-seeking approach of a leading orientation drove favorable financial results for the Clan and Adhocracy cultures but did not help the Market or Hierarchy cultures. Other strategic orientations also drove positive financial results, including future analytic and defensive. On the other hand, the discounting-oriented aggressive orientation returned negative financial results to all hotels in this sample.

Suggested Citation

  • Hyunjeong Spring Han, 2012. "The Relationship among Corporate Culture, Strategic Orientation, and Financial Performance," Post-Print hal-02311938, HAL.
    • Handle: RePEc:hal:journl:hal-02311938
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    Citations

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    Cited by:

    1. Christos Alexakis & Michael Dowling & Vasileios Pappas & Manimozhi Ramachandiran & Favianos Skalvos, 2021. "Do hotel financial factors influence satisfaction?," Post-Print hal-03358054, HAL.
    2. Tomás F. Espino-Rodríguez & Juan Carlos Ramírez-Fierro, 2018. "The Relationship Between Strategic Orientation Dimensions and Hotel Outsourcing and Its Impact on Organizational Performance. An Application in a Tourism Destination," Sustainability, MDPI, vol. 10(6), pages 1-17, May.
    3. Stumpf, T.S. & Swanger, Nancy, 2017. "Institutions and transaction costs in foreign-local hotel ventures: A grounded investigation in the developing Pacific," Tourism Management, Elsevier, vol. 61(C), pages 368-379.
    4. Lenka Syrová & Jindřich Špička, 2023. "Exploring the indirect links between enterprise risk management and the financial performance of SMEs," Risk Management, Palgrave Macmillan, vol. 25(1), pages 1-27, March.
    5. Wongsinhirun, Nopparat & Chatjuthamard, Pattanaporn & Jiraporn, Pornsit, 2023. "Corporate culture and board gender diversity: Evidence from textual analysis," International Review of Financial Analysis, Elsevier, vol. 86(C).
    6. Krupskyi, Oleksandr & Dzhusov, Oleksii & Meshko, Nataliіa & Britchenko, Igor & Prytykin, Artem, 2018. "Key sources when formulating competitive advantages for hotel chains," MPRA Paper 98490, University Library of Munich, Germany, revised Jan 2019.
    7. Agnieszka Zakrzewska-Bielawska, 2018. "The Relationship between Managers’ Network Awareness and the Relational Strategic Orientation of their Firms: Findings from Interviews with Polish Managers," Sustainability, MDPI, vol. 10(8), pages 1-20, August.
    8. Alexakis, Christos & Dowling, Michael & Pappas, Vasileios & Ramachandiran, Manimozhi & Skalvos, Favianos, 2021. "Do hotel financial factors influence satisfaction?," Annals of Tourism Research, Elsevier, vol. 90(C).

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