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Experiencing Acquisition Through a Process of Culture Change in a Serbian Organization

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Unicredit Bank Serbia

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  1. Abstract
    1. Addressing the issue of culture, acquisition and change in Serbia
    2. Providing useful information to potential investors
    3. Primary data for the research
  2. Background Information to the project
  3. Literature Review
    1. Acquisition
    2. Change
    3. Culture
    4. Acquisition as catalyst of cultural change
  4. Methodology
  5. Analysis of the Data
    1. Values and beliefs
    2. Norms of behaviour
    3. Language
    4. Heroes
    5. Rituals and ceremonies
    6. Cultural differences
    7. System of culture and chaos of acquisition
    8. Summary
  6. Conclusion

This study addresses the issue of culture, acquisition and change in Serbia. Specifically, the project focuses on a Serbian bank which has recently been taken over by a Greek bank and explores organisational culture in a Serbian bank. Culture can be an image created by its members. It is both a mask and an impersonation that appeals to people. However, it would be interesting to find out what is underneath that image and discover whether organisational culture is truly important to employees in the organisation under study here. Culture comprises of values, beliefs, norms of behaviour, rituals and language. The focus of the research is to explore the contribution of these elements to employees' satisfaction. Undoubtedly, satisfaction at work is the most important criteria and no monetary reward can compensate for the lack of contentment. It is believed that culture is an important decider of the climate and the atmosphere in an organisation. Chapter 1 will provide background information to the project and explain the ideas behind the choice of this topic. This will include a description of the banking sector and economy of Serbia. Chapter 2 is dedicated to the literature review. The review will look at the process of acquisition, the concept of culture and how acquisition can be an initiator of cultural change. Chapter 3 discusses the methodology. A brief description of organisational history is followed by explanations of the techniques and methods used to collect and analyse primary data. Chapter 4 contains the Data Analysis section. In order to achieve a greater understanding of the analysis, recurring ideas from interviews will be grouped under different sub-headings, such as: values and beliefs; norms of behaviour; language; heroes; rituals; cultural differences; system of culture and chaos of acquisition. Chapter 5 contains the conclusion and recommendations. This section will provide an overview of the entire project; the main questions will be discussed in contrast to the findings of primary research and followed by a final evaluation of research objectives and results.

[...] change in a Serbian organisation - II Table of contents I Abstract II Table of contents III List of figures IV Acknowledgments V Introduction CHAPTER Background Information to the project CHAPTER Literature Review Acquisition Change Culture Acquisition as catalyst of cultural change CHAPTER Methodology CHAPTER Analysis of the Data Values and beliefs Norms of behaviour Language Heroes Rituals and ceremonies Cultural differences System of culture and chaos of acquisition Summary CHAPTER Conclusion V REFERENCES Books Journals Articles Company Reports Research Internet Sources VI APPENDICES Appendix Organisational Background Appendix Political Background Appendix Interview with the General Director Interview with a Unit Manager - Experiencing acquisition through a process of cultural change in a Serbian organisation - III List of figures Figure Illustration of the current situation in the bank. [...]

[...] Yes, your opinion is all I needed - Experiencing acquisition through a process of cultural change in a Serbian organisation - Interview with a Unit Manager (introduction to what the project is about) Could you please tell me for how long you have been working at the bank and in what position? I have been working in the bank for about 10 years. I started as a junior assistant, now I am the manager of one of the units. Could you please describe the organisational culture, in terms of values, norms; how are the interpersonal relationships regulated? [...]

[...] (2004), Navigating Complexity: The dynamics of organisational culture during a merger,, Accessed 30 April Ekonomist magazine Online (2003), Accessed May 2006" 43 - Experiencing acquisition through a process of cultural change in a Serbian organisation - Ekonomist Online (2005),, Accessed 25 July magazine Belgrade, Gagnon, V.P. Jr (1999), Ethnic conflict as demobilizer: The case of Serbia, Accessed 2 August, 2006" Holden, R. (2003), Managing people's values and perceptions in multi-cultural organisations, xtArticle/Articles/0190230605.html, Accessed 30 April Line, M.B. [...]

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