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[email protected] The literature revie sets out to provide a detailed understanding o! the relationship "eteen organizational culture and port!olio port!olio per!ormance# identi!ying previous studies on this su"$ect and taking cues !rom these on ho to conduct the research# as ell el l as re!ining the parameters that ill "e adopted !or the research. It !irst e%amines the concept o! organizational culture# then the concept o! port!olio per!ormance and then eventually ties the to together# e%amining the relationship that e%ists. It then concludes ith a summary o! conclusions derived !rom the literature revieed.
Organizational culture and its evolution in organizations. The concept o! organizational culture is one hich e%ists in every organization regardless o! size or !unction# as it is the set o! values# norms# arte!acts and leadership or management styles# hich may or may not "e de!ined# ith hich a particular set o! people "ehave and get things done &Armstrong# '(()*. Other de!initions re!er to organizational culture as a uni+ue set o! rules governing an organisation, the ay things are done or even a system or mode o! operation. A common +uality hoever is that these values relate to and are shared "y a speci!ic group o! people hich are totally uni+ue in composition. The concept o! organizational culture is mostly accepted as one that in!luences per!ormance and e!!ectiveness in any organization &Fa+ir et al.# '(--*. han / A!zal &'(--* note that organizational culture ould even di!!er "y countries ith di!!ering connotations as this ould re!lect their environment# "elie!s or mode o! thinking.
The culture o! any organization# regardless o! hich country it is located# is mostly !ormed over a period o! time and constantly "eing reshaped as a result o! the development o! that organization# ith the norms and values shaped ith e%periences and over time. 0ome research have shon that organizations develop through di!!erent stages or li!ecycles hich can vary !rom 1 to -( di!!erent stages &Fa+ir et al.# '(--2 -(3*
over hich culture can "e !ormed and shaped, in!erring that the culture o! organizations ill have a linkage to the stage o! the li!ecycle it is at# at any particular particular time. 4uinn / Cameron &-561*# revieed 5 models o! organizational li!ecycles and proposed 3 ma$or stages namely2 entrepreneurial &i.e. the starting out stage dominated "y innovation# creativity and gathering o! resources*# collectivity &i.e. the structures are more in!ormal# ith more !ace to !ace communication# high commitment amongst amongst mem"ers7 putting in long hours ith evident commitment*# !ormulation / control &here# procedures and policies "ecome grounded and !ormalized ith emphasis on e!!iciency* and the ela"oration o! structure &here more attention is given to e%pansion and emphasis placed on monitoring e%ternal !actors8environment* stages. 9hile there is undou"tedly a correlation "eteen the type o! culture and the stage an organization is in its li!ecycle# this research only !ocuses on the relationship "eteen an organization:s culture and its port!olio per!ormance. Cameron / 4uinn &'(--* developed an instrument knon as the ::organizational culture Assessment Instrument &OCAI* 7 used to assess organizational culture, an instrument hich has "een idely used in research &Fralinger / Olson# '((;, Fa+ir et al.# '(--, azici# '(-(2 -?*. Over the years# attempts have "een made at "ridging the gap, Datanakul / Aronson &'(-'2 ''(* arrives at a hypothesis that ::Organizational culture emphasizing commitment# communication# and reard !or per!ormance contri"utes to pro$ect success::# hinging on the !act that organizational culture is positively associated ith per!ormance "oth at the organizational level and pro$ect level. The results an organization achieves# not only depends on the processes !olloed# "ut also on the "ehaviour o! the people involved as they e%ecute e%ecute tasks, the manner in hich a group o! people carry out tasks can make the di!!erence "eteen ade+uate results and outstanding results. &Totsi# '((;2 '-*. The importance o! human !actors in the success o! a port!olio cannot "e over emphasized &Diyush# angayach / Mittal# '(--2 ?(* and culture c ulture can "e de!ined as a people:s ay o! li!e, there!ore organizational culture re!ers to the values and traits that th at an organization set aside to guide their "usiness operations and delivery to achieve "usiness o"$ectives. Totsi# &'((;2 '-*# notes that the organization:s organization:s values :must "e oned and demonstrated "y all employee and not $ust managers: !or such values to "e attri"uted to the organization as a part o! its culture. More o!ten than not# an organization:s culture ill permeate through the organization and ill "e evident in "ehaviour o! its employees# especially i! these these cultural traits are held in high regard# and vice versa. 0uda &'((;* suggests that :hen individuals "ecome committed to the the organization:s "elie!s# those "elie!s "ecome internalized and individual mem"ers hold them as their personal "elie!s::. uckerman &'(('2 -?6* also notes that hen the values
are clear and are accepted "y the organization:s employees# then per!ormance ill "e enhanced .It then "ecomes important !or those values and "elie!s to "e continually shaped and guided positively to achieve the desired results. aker &-56(2 ?-*# maintains that :managers consistently pay attention to shaping culture into a positive !orce "y encouraging those elements that are seen as "ene!icial and checking or eradicating those that are less desira"le:# as this ill surely have an impact on the success o! the organization:s port!olio. This is indeed a true phenomenon as it is the modus operandi in the case study organization under research i.e. FI FI