Business Law Module: Corporate Culture and Its Impact Report

This report delves into the concept of corporate culture within the framework of business law, emphasizing its significance in shaping company behavior and performance. The report highlights the importance of a positive corporate culture, focusing on aspects such as employee satisfaction, ethical considerations, and transparent management. It examines the role of corporate culture in the Australian context, referencing relevant legislation like the Corporations Act 2001 and the Fair Work Act 2009. The report underscores how corporate culture influences the economic background of companies and promotes fair working conditions, ultimately contributing to the overall development and success of businesses. Examples like Apple Inc. are used to illustrate how a strong corporate culture can extend beyond the company itself to impact the broader societal and economic environment. The report also touches on the government's role in establishing and maintaining a good corporate culture through various legislative measures.

Running head: BUSINESS LAW
Corporate Culture
Name of the Student
Name of the University
Author Note

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The term culture means anything that manifests the intellectual achievements and reflects
the idea, customs and social behavior of a particular society. The term corporate denotes
something that relates to the big companies. Therefore, the term corporate culture denotes a
system where the idea, customs and behavior of the company can be traced out. Development of
a company is very much depended on the positive corporate culture. Internal management of a
company is required to be assessed systematically and it is very important to close up every form
of the corporate works. In this case, the notion of corporate culture helps a lot. According to the
application of the corporate culture, it can be stated that the corporate atmosphere can identify
the standard of a company. It has been observed that the corporate culture is based on certain
things like employees, client satisfaction. The base of the company can be developed if a
transparent management interaction observed in between the employer and the employees. The
ultimate function of the company is to make the clients satisfied. In this competitive world, the
term corporate culture plays an important role. The employees of a company should have to
maintain certain ethical acts for the development of the corporation, it is very important to
establish the ethical consideration made by the employees. Good corporate culture helps to
maintain the same.
Australia is a business country and it is an obvious fact that most of the economic
framework of the country has been based on the companies. Therefore, it can be stated that the
companies incorporated in this country should follow the corporate culture to get a good
corporate structure. Further, it can be stated that corporate culture is an inevitable part of the
corporation law. This process can be applied by different strategies and through good employee
communication. There are various examples where a good corporate culture can be observed

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such as Apple Inc. according to Harris (2014), not only the company, but also the culture and
standard of the country has also been disclosed by the good corporate culture.
In Australia, much legislation has been enacted to help the companies creating good
corporate culture. It has been mentioned in the Corporation Act 2001 that a director of the
company has to take proper care regarding the maintenance of proper corporate culture. Further,
there are certain provisions mentioned to regulate the good working atmosphere within the
corporation. Apart from the Corporation act, certain other legislations such as Fair Work Act,
Australia Securities and Investment Commission Act 2001 act as guiding legislations for the
maintenance of corporate culture within the company. Therefore, it can be stated that the
government of Australia has taken many steps to create good corporate culture. This helps to
boost the economic background of a company. Further, certain employment-oriented rights have
also been established by the corporate culture that is important to settle the industrial disputes. A
fair working criteria has been established by this corporate culture and all these effects made the
role of the corporate culture significant.

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Reference:
Corporation Act 2001
Fair Work Act 2009
The Australian (2018). [online] Available at: https://www.theaustralian.com.au/...sino-australia-
oil-and-gas...fraud/.../ab757958e67dd... [Accessed 18 May 2018].
The Conversation. (2018). Financial advice reform: have we learned enough from Storm?.
[online] Available at: http://theconversation.com/financial-advice-reform-have-we-learned-
enough-from-storm-5299 [Accessed 18 May 2018].