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Journal VOL. 2 NO. 1, June. 2021, ISSN: 2714 - 4054

 

Organisational Culture and Performance of Nigerian Insurance Companies in Lagos State, Nigeria

Olawore Olusegun Paul, Williams Babatunde Mustapha, Oloyede Fatai Adewale, Ogundele Sakiru Adebowale

 

ABSTRACT

In a corporate group, lack of effective organisational culture and poor cultural integration affect organisational performance and decrease shareholders return. Corporate leaders acknowledged the importance of organisational culture to performance outcomes but only few identified an effective organisational culture for their organisation. However, this study investigated the effect of organization culture (entrepreneurial culture, bureaucratic culture, risk management culture and consensual culture) on the performance of insurance companies in Lagos State, using regression test statistics. The findings showed that organizational culture dimensions (entrepreneurial culture, bureaucratic culture, risk management culture and consensual culture) shows a significant effect on insurance companies' performance. As suggested by the findings, it is recommended that insurance firms need to establish organisational culture unit that ensures that the organisation is responsive to culture in accordance with international best practice.

 

Keyword: Organisational culture, Performance, Insurance companies, Lagos State, Nigeria

 

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