Date of Award

5-2021

Document Type

Thesis

Department

Economics

First Advisor

Hardik Marfatia, Ph.D.

Abstract

The majority of companies, whether they be service, production, or entertainment oriented, all have one common goal: profitability. Certain companies spend millions of dollars researching the latest trends or the next best-selling product in order to capitalize on it. Other companies spend all their effort and time on customer relations in order to draw as many new consumers into their business as they can. Finally, some companies spend many years focusing on increasing profits through growing their brand or business. Overall, no matter how companies expand and change, they are all working towards the same thing: profitability. Profitability can be accomplished through either increasing sales or decreasing costs. Though, what many companies forget is they all have one thing in common that can have a strong impact on profitability: company culture. Company culture refers to the force within a company that encourages certain behaviors and shaped the attitudes of employees. No matter what type of company, what products or services they sell, and even where they are located, company culture is an overarching aspect of a company. This research will look at pre-collected data which measures and analyzes the effect that company culture has on company profit. The term “company culture” will be defined and looked at as an opportunity for growth of the company, rather than an afterthought. The hypothesis that positive company culture contributes to higher company profit and negative company culture leads to losses will be tested in this research. Finally, this research paper will look at how companies can use its culture to their advantage. Company culture is an extremely valuable asset that companies have, that has been surprisingly underutilized in the past. This research paper seeks to inform those in the business world about the tremendous benefits that company culture can have, if implemented correctly, on company profitability.

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