Department of Management Studies, IFTM, Moradabad.
In the 1980's, we saw an increase in the attention paid to organizational culture as an important determinant of organizational success. Many experts began to argue that developing a strong organizational culture is essential for success. There is no denying that each organization has a unique social structure and that these social structures drive much of the individual behavior observed in organizations.
Culture is a very powerful force at the workplace, which is consciously and deliberately cultivated and is passed on to the incoming employees. It reflects the true nature and personality of an organization.
In the globalize of market scenario, the impact of recession at one place/industry/sector perculate down to all the linked industry and this can be truly interpreted from the current market situation which is faced by the world since approx 1.5 years and still the situation is not in control in spite of various measures taken to fight back the recession in the market. The badly hit sector at present is being the financial sector, and major issue being the “Liquidity Crises” in the market.
This paper deals with the changes that various organizations have undergone in their work culture as a result of recession.
Organizational culture, Organizational success, employee behavior, Liquidity crises
