Corporate culture as one of the key factors of effective industrial enterprise development

Abstract

The article is focused on the investigation of the impact the corporate culture makes on industrial enterprise development. It demonstrates that the formation of the corporate culture principles contributes to raising the level of staff involvement, its labor activity performance, maintaining and reproduction of human capital assets of an enterprise. Investments in the development of corporate culture are considered as an alternative to traditional methods of increasing the efficiency of an enterprise in an uncertain economic environment. Corporate culture development, which involves a commitment to raising the level of knowledge, innovativeness and organization, has a positive effect on the performance and efficiency of the entire company, and aids in the regulation of internal labor relations, preventing potential critical situations. The introduction and development of corporate culture, which includes a certain system of values and behaviors, in modern domestic industrial enterprises is becoming a necessity. The application of the principles and values of corporate culture leads to the long-term success of an industrial enterprise. © Published under licence by IOP Publishing Ltd.