Corporate culture at Universal Bank, S.A.L. (c1994)

Abstract

Corporate culture ex presses the values and beliefs that members of tbe organi zation share. It ti es people together and gives meaning and purpose to their day to day li ves as well as it makes distinction between one organization and another. Culture is considered a motivational tool as it affects satisfaction and performance of the employees. In addition, strong cul ture does not only increase employees cohesiveness and commitment but it also facilitates communi cation and decision making, reduces absenteeism and turnover, and shortens time between probl cm and solution. The purpose of thi s project is to di scuss and analyze corporate cul ture at UB, study its effect on UB management as well as its implication on performance, satisfaction, and motivation of the employees. It is also a guide to Management to see whether there is a di screpancy between the real cuJtme and the perceived one. For more elaborated knowledge about the hi storical background of the Bank,published materi als were reviewed. In addition, intervi ews were conducted with the management level to describe management poli cy fo llowed by UB. UB is a Lebanese Commercial Bank establi shed in 1978 whose shareholders are diversi fied businessmen engaged in various business fi eld. Although US worked in a difficult situation, it had a rapid growth in all directions. It is quite selcctive in its cli entele, personnel, and it tTies to adapt up to date technique. For a better understanding of UB's culture a questionnaire with fifty questions was addressed to a sample of 62 employees from the different branches. The questionnaire was divided into different subj ects such as fee ling of belonging, motivation, dedication ... etc. The positive attitude of the employees was taken after getting the result computerized by using the frequency and cross tabulation method. Furthellllore, each question was divided according to total number of employees, branches, age, education, position, and period of work. According to the findings, employees at UB are proud of the Bank but when it comes to the group there is lack of spirit of unity. The majority of the employees are motivated because of the company image and not because of the extrinsi c reward offered. They do not feel fai r1y evaluated for the time and effort exerted at work. In addition , UB does not encourage its employees to participate in deci sion making. The degree of job happiness at UB is approptiate. This is shown by the commitment and the dedication of the employees. There is no discrimination at UB, what they care about is the person's outcome and loyalty. Employees are encouraged to be responsible, innovative, initiators, but are not encouraged to take ri sk. UB values are widely shared by the employees who know their organization goals and work to fulfill them. Moreover, only a small percentage of the employees consider the social activities offered appropriate. If management do not take steps to satisfY their employees, they will face less productivity. UB should make its internal environment more appealing tlu'ough offering better financial rewards, more enriched social activities, more invol vement in decision making, more enri ched and varied job, improving the physical appearance of the Bank, in creasing cooperation between Management and employees, and improving its evaluati on procedure.