What Are the Important Functions of Corporate Culture in an Organization

question 46

Essay

What are the important functions of corporate culture in an organization?

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Definitions:

Legal Right

An entitlement derived from a legal system that allows or empowers a person to act in a certain way or requires others to interact with the person according to specified rules.

Binding Contract

An agreement between parties that is legally enforceable in a court of law.

Promissory Estoppel

Promissory estoppel is a legal doctrine that can enforce a promise in the absence of a formal contract when a party has relied on that promise to their detriment.

Consideration

Something of value that is exchanged between parties in a contract, making the agreement legally binding.