The effect of organizational culture on customer satisfaction in AFB and NDK Financial Services
Today, organizational culture and customer satisfaction are running the operations of firms. The organizational culture of the firm is the way of life of the members of the organization whereas customers with high satisfaction levels, are more likely to repurchase the services and products of a firm. The ability of firms to provide satisfaction to their customers is dependent on the values, thoughts, actions and beliefs of the organization. These attributes fall under organizational culture. This suggests that there is a relationship between organizational culture and customer satisfaction. Due to the continuous financial scandals-Ponzi schemes, which are being run by fraudulent financial institutions, people are losing faith in the financial system of the world. A firms ability to retain its customers can go a long way to increase their profitability and retention of customers can be done through customer satisfaction. This study sought to find the relationship between organizational culture and customer satisfaction. A mixed methods approach was used to collect data that could be generalizable and in-depth unlike past literature that used only a quantitative analysis. Data was analyzed using Pearson’s ‘r’ correlation coefficient and regression analysis. Results showed that three out of the four types of culture; clan, adhocracy, and hierarchy had a significant relationship with customer satisfaction levels. However, the result of the market culture was inconclusive. Qualitative results served as a complement to the results of the quantitative study, showing similar outcomes. Based on the results of this study, firms can concentrate on improving their current culture or changing it if need be in order to boost their customer satisfaction levels. Organizations can also work on receiving feedback from their customers in order to make the necessary adjustments and put in place the right structures, to increase their profitability.
Thesis submitted to the Department of Business Administration, Ashesi University, in partial fulfillment of Bachelor of Science degree in Business Administration, April 2018
Ghana, organizational culture, customer satisfaction, financial sector