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Business News of Wednesday, 21 May 2008

Source: GNA

Research into cultural dimension of business

Accra, May 21, GNA - Professor George Hagan, Chairman of the National Commission on Culture, on Wednesday called on business and management schools in the country to research into the cultural dimensions of management in Africa. He said cultural ideals of leadership and human relationship had, to a large extent influenced corporate culture and leadership in terms of style and effectiveness either positively or negatively. Prof. Hagan, speaking at the opening of a three-day national conference on culture and governance, noted that it was time to critically examine the positive and negative dimensions of culture and maximize its benefits for development.

The conference, organized by the Commission and sponsored by the Konrad Adenauer Stiftung (KAS) on the theme: "Culture and Corporate Management" would assess the level at which cultural values impinge on corporate performance. The KAS is one of five German political foundations that seek to promote the ideals of good governance across the globe. "The management class and their staff are culturally of the same background. Indeed, they have the same collective mindset and their behavioural expectation influenced by their communal culture," he said. Prof. Hagan said there was the need to develop a culture within the group, households, businesses, religious groups or the state that facilitated the achievement of definite objectives. "The key to good management may lie in understanding the culture of the corporate entity, especially the mindset, values, attitudes and regulations and types of behaviour coded according to strategic objectives," he said. Mr Klaus Loetzer, Resident Representative, expressed the foundation's preparedness to work with all state agencies in promoting corporate governance to harness cultural values. He said developing a good corporate culture required leadership which provided the needed direction in order to achieve the needed objectives. "It is our conviction that strong corporate cultures would attract, retain and engage the relevant talents for development," he said.