Topic: Diagnostics of corporate culture. Study of current regulatory and methodological documents, established procedures for working with personnel, decision-making, etc.

The corporate culture of the company, especially the one that was formed a long time ago and has remained unchanged since then, may require adjustment in accordance with the requirements of today and the realities of the market. In this case, all changes should be carried out only on the basis of a diagnosis of the company's corporate culture, which will help determine the right direction for its adaptation.

From the material you will learn:

When diagnosing the corporate culture of the company;
What methods of diagnostics of corporate culture to use;
How corporate culture diagnostics will help to understand what employees want;
How to unite staff with the help of diagnostics of corporate culture.

When to diagnose the corporate culture of the company

The fact that the existing corporate culture of the company has ceased to correspond to the realities of the time can be evidenced by a whole range of signs. These are high staff turnover, low motivation and loyalty of staff, low labor productivity, lack of team spirit, general decadent moods, etc. corresponds to the strategic objectives of the organization.

How to diagnose organizational culture and what you should pay special attention to, we will tell in the article.

Methods for diagnosing corporate culture

When the company's management has questions and claims to the existing organizational culture, when it becomes clear that it does not meet the requirements of today, it must be corrected or a new one should be formed. But, before changing anything, it is necessary to diagnose the corporate culture and identify those problems and directions in which to act.

In some cases, to diagnose corporate culture, it will be enough to observe the team and internal relationships, in some cases, to interview employees and find out from them what shortcomings they see in the proposed system of corporate values, and in some cases, to find out the opinion of managers.

Be that as it may, it is necessary to understand how effectively the main mechanisms for transferring corporate culture operate in the enterprise, which are presented in the figure below.

It is possible to correctly diagnose the corporate culture of a company only by fully immersing yourself in it, talking with a large number of employees - from managers to line personnel, finding out their needs and determining how they differ from the real state of affairs. If such an analysis showed that corporate values have an impact on the activities of employees and are shared by the majority of the company's personnel, we can say that the organizational culture is working. It is also important to understand how it affects the mood of employees and how, in turn, it is affected by the rejection of some members of the team.

View the corporate culture template

Methods and models proposed by K. Cameron and R. Quinn, F. Trumpenaars, G. Hofstede, K. Levin are also used to diagnose corporate culture. They should be applied taking into account the fact that corporate culture has many levels and traditional quantitative and qualitative methods can be used to study the surface level (room design, dress code, traditions, emotional atmosphere): surveys, focus groups. The main difficulties may arise in the study of the basic values of personnel. In this case, you can use the case method, assessment center, N. Tichy matrix, business games, other methods of personnel assessment and self-assessment.

How corporate culture diagnostics can help you understand what employees want

Conducting a written survey, in which all employees of the enterprise will take part, will help to understand the needs of the staff. It is necessary to draw up a questionnaire and make it as short as possible, but meaningful (a sample is given below). It can consist of both open-ended questions that require detailed answers, and those that can only be answered with “yes” or “no”. Questions should be understandable, not allowing double interpretation, and the form of the questionnaire itself should be convenient for further processing.

In order for the results of corporate culture diagnostics to be reliable, before conducting a survey, it is necessary to explain to employees what is meant by the term "corporate culture". This is necessary because many employees believe that having a voluntary health insurance policy, a subscriber to a fitness center or a foreign language course is the corporate culture and corporate values. Very often, many do not see the difference between the social package and corporate culture. You can, as an experiment, add the item “What do you think corporate culture is?” to the questionnaire, I think that you can learn a lot about this.

How to bring staff togetherdiagnostics of corporate culture

When conducting diagnostics of corporate culture and its subsequent adjustment, as well as in the formation of a new corporate culture, it is necessary to interact as closely as possible with leaders, both formal and informal, since their opinion is important for most employees of the company. It is necessary to carry out explanatory work with them, involve them in the process and, thereby, immediately enlist their support, make them accept the established rules and norms. In addition, leaders are, as a rule, people who have a certain life experience and a formed system of views and beliefs, so they can bring something new, some unaccounted values and positive images into the process of creating a new corporate culture. Such people will become conductors of corporate culture, its personification.

Managers conducting corporate culture diagnostics and creating new corporate values need to do this taking into account the scope of the company's production activities. For example, in those companies that operate in the service market, you need to instill in the staff respect and love for customers, a sincere desire to help them. In such companies, values should be aimed at creating an atmosphere of customer focus, attention to the desires and needs of customers, the desire to do everything to make them satisfied. At manufacturing enterprises, whose employees value stability, values are associated with long-term cooperation and partnerships.

Once a corporate culture diagnosis has been made, it will be easier to find the factors that unite staff. So, in some companies, employees can be united by a possible external threat (for example, competition). True, the disadvantage of such a unifying factor is the short duration of this incentive - as soon as the threat ceases to exist, it is urgently necessary to look for a new unifying factor.

findings

All changes must be made based on the diagnosis of the existing corporate culture. It is possible to determine in which direction the work should be carried out using a survey of employees.
The formation of a new and adjustment of the existing corporate culture should take place with the direct participation and approval of formal and informal leaders, taking into account the specifics of the enterprise's production activities.
Identify employees who do not share any values or norms of corporate culture, find out why this is happening and try to convince them.

1.4 Methodology for researching the type of corporate culture of the organization and its impact on the effectiveness of the organization

The main goal of diagnosing or monitoring corporate culture is to create tools and a framework for making managerial decisions in the field of current business tasks, in the field of strategic tasks (increase in market share, growth in profitability), as well as to predict the company's potential in a situation of change (structural transformations, mergers, acquisitions, arrival of new owners). Diagnostics of corporate culture assesses the overall organization of business processes and the effectiveness of the interaction of employees in them. Culture diagnostics is also necessary before planning changes in the culture itself.

A step-by-step plan for conducting culture diagnostics may include the following steps:

1. Determining the subject of diagnostics: setting the managerial task and determining the goals of the study.

2. Definition of the object of diagnosis: the choice of the studied aspects of culture.

3. Choice of measurement strategy. Development of methodological and practical tools.

4. Taking a measurement.

5. Analysis of the obtained characteristics of culture, determination of its type.

6. Base for forecasting and making managerial decisions. Development of a set of measures (specific recommendations). Forecasting possible problems in the field of personnel management and in general in the work of the enterprise.

The diagnostic tools of corporate culture include: analysis of documents, tour of the company, questionnaire survey, observation, interview, experiment.

Traditionally, there are three main strategies for studying corporate culture, each of which includes its own methods of research and analysis:

Holic strategy implies a deep immersion of the researcher in the culture and acting in it as a deeply involved observer, consultant, or even a member of the team. These are the so-called field methods of studying the situation by actually immersing yourself in it. The main goal of the researcher is to become "their own person", and then use the entire arsenal of means of observation and obtaining information. Tools for such an analysis: timekeeping, diary keeping, the method of empirical observations, stop exercises, experience of confession, etc. Modern consultants also use such forms of work as working groups consisting of consultants and employees of the company, seminars-discussions with key persons of the company.

Metaphorical (language) strategy consists in studying samples of existing regulatory and methodological documents; documents regulating the system of relations and information exchange between various parts of the organization; reporting, as well as the peculiarities of the language of these documents, tales and legends, stories and myths, anecdotes and jokes, communication stereotypes, slang, hymns and mottos of the company. For example, as one of the methods for discovering and describing values, E. Shein offers a content analysis of intra-organizational documentation.

Quantitative Strategy involves the use of surveys, questionnaires, interviews, focus groups and other similar methods, borrowed mainly from sociology, as well as methods of model analysis. The advantages of questionnaires are that they allow you to cover all layers of the organization in a short time and get an objective picture of people's values and attitudes. In order for these methods to be truly effective, it is necessary to build questions in such a way that they reflect the basic value attitudes of employees (i.e., the culture itself), and not a secondary attitude to the essence of phenomena (for example, the social climate in the team). K. Cameron and R. Quinn propose to use within this method the procedure of analyzing some scenarios, in which the reaction of the respondents reflects the degree to which the written scenarios are significant for the culture of their own organization. Respondents may not be aware of the critical cultural attributes until they are struck by the hint included in the questionnaire script.

One of the most important sources of information about organizational culture is the study of the procedures for working with personnel that have developed at the enterprise: disciplinary practices and systems of reward and punishment, leadership style, features of managerial decision-making, control systems - all these elements clearly characterize the type of organizational culture of the enterprise.

There are many methods for diagnosing corporate culture. In our study, we used the method of C. Cameron and R. Quinn

The essence of this method lies in the fact that, based on various criteria, the main types of corporate cultures are distinguished and the culture of their organization is correlated.

K. Cameron and R. Quinn studied the performance indicators of large companies in two dimensions. The first dimension separates performance criteria that emphasize flexibility, discretion, and dynamism from those that emphasize stability, order, and control. The second dimension separates performance criteria that emphasize inward orientation, integration, and unity from those associated with outward orientation, differentiation, and rivalry. Both of these dimensions form four squares, each of which is a distinct set of organizational performance indicators. In other words, these four groups of criteria determine the core values by which the organization is judged (Fig. 5).

Rice. 5. Typology of corporate culture according to K. Cameron and R. Quinn

This typology is of practical value, as it covers the key characteristics of crops, incl. in the field of personnel management, allows you to get their qualitative and quantitative assessments and to diagnose changes in the culture of enterprises. A tool for assessing the current culture and its preferred state is the questionnaire developed by the authors of the typology (Appendix 3.4).

The methodology for constructing corporate culture profiles (OCAI) is quite well-known and popular among Western and domestic consultants.

Numerous studies conducted at Russian enterprises show that most companies are characterized by the desire of personnel to develop in the direction of the clan culture, especially in matters of leadership style, which is, in fact, the connecting thread between the organization and its employees. Therefore, for a modern Russian leader, the development of clan skills and competencies seems to be very promising and necessary in order to be an active conductor of organizational culture among employees.

Competing values in the model are measured using "scaled" questionnaires. Six dimensions of culture are assessed at their present and desired level: the most important characteristics of the organization, leadership and management style, employee management, the essence of the organization, strategic focus, criteria for success.

In this questionnaire, parameter "A" corresponds to the clan organizational culture, "B" - adhocracy, "C" - market, "D" - hierarchical. In accordance with the data obtained, two profiles of the organization are drawn - the existing culture and the desired one.

Benefits of this survey:

First, the overall model describes the values of the organization's culture in relation to each individual approach to performance measurement and compares the perspective of one approach with all others;

Secondly, it allows you to classify organizations on the basis of belonging to a particular type of culture and determine the strength of this culture;

Thirdly, the use of graphical profiles can serve as an effective tool for organizational diagnostics. Based on the analysis of the areas of the greatest difference between the profiles of the existing and desired culture, it is possible to outline ways to change and improve it.

Comparison of charts of different parameters for the same culture or common profiles for different departments allows one to draw a conclusion about the cultural alignment or inconsistency of the company. The equilibrium state of various aspects of culture in various departments leads to an increase in the cohesion of the company and the creation of a favorable social climate for making managerial decisions. It is also of interest to compare the organizational culture of a given organization with the average profiles of companies from the same industry or field of activity in which it operates; with the profiles of the main competitors; with companies operating in the same territorial entity or region.

Another technique used in studying the impact of corporate culture on the performance of an organization is a survey of express diagnostics of corporate culture (Appendix 5.6). This testing makes it possible to evaluate the factors of influence in direct form, where a total score of over 175 points indicates a positive direction of the corporate culture and its impact on the organization's activities.

The internal characteristics of corporate culture are difficult to measure, their study is associated with high administrative costs, since it requires serious research and analysis. Specialists in corporate culture regularly turn to various areas of economics, sociology and psychology, as well as practical activities in search of the most appropriate models, terms and techniques. The use of the entire set of research technologies and tools gives the most objective picture, allows you to explore different layers and aspects of culture.

To assess the possibility of implementing the company's strategy and decide whether to change goals and objectives or build a different corporate culture that meets the new strategy, diagnostics of corporate culture will help. Today, this tool is given increased attention in the professional community of HR specialists, as the effectiveness of its use is confirmed by the experience of many companies.

Poor relations between employees and an unfavorable work climate negatively affect the efficiency and, consequently, the company's performance. At the same time, the leadership corporate spirit, mutual understanding and support both horizontally (between employees) and vertically (between managers and subordinates) are the key to successful achievement of strategic goals.

To effectively manage a company, you need to know its corporate culture and be able to influence it. That is, it is necessary to understand which elements of the existing culture should be developed, and which should be abandoned.

It is important to comprehensively assess the organization of business processes and the effectiveness of the interaction of employees in them. For this purpose, the diagnosis of corporate culture is used. Moreover, this tool can be used when solving current business problems (for example, how to increase the level of staff loyalty) or strategic ones (increasing market share, increasing profitability).

Diagnostics of corporate culture has proven itself well in predicting the company's potential for various changes (structural transformations, mergers, acquisitions, the arrival of new owners, the introduction of a new information system, etc.).

Meanwhile, the main goal of diagnosing corporate culture is to create a basis for making managerial decisions.

Model Daniel Denison

There are several methods for diagnosing corporate culture. The most popular, perhaps due to ease of use, is Daniel Denison's model. Professor of Organizational Development at the International Institute for Management Development in Lausanne (IMD) (Switzerland) studied the interaction between organizational culture and organizational performance. The result of diagnostic studies was a model named after him. Today it is used by more than 1200 organizations around the world, including in Russia.

According to the Denison model, corporate culture is characterized by four interrelated factors (parameters) - involvement, consistency (consistency), adaptability and the mission of the company. Each of them has components.

Thus, the mission determines the strategy, goals and objectives, as well as the vision of the company. Consistency - coordination and integration, agreement, key values. Engagement ensures team orientation, development of abilities, transfer of authority. Adaptability - creation (change), customer orientation, organizational learning.

Diagnostics of corporate culture begins with the collection of information about the organization. Each employee is asked to complete a questionnaire. It contains four groups of questions (statements) on the main factors. Each group has three subgroups (see example). All statements are evaluated on a five-point scale (from 1 to 5 points).

After the questionnaires are completed, the arithmetic mean value is calculated for each subgroup - an index that can be represented as a percentage (the maximum index value is 5 points, or 100%).

Results processing

According to the Denison model, corporate culture can be represented as a circle (Scheme 1). The horizontal line divides organizational parameters into internal and external focus. Engagement and alignment characterize the internal processes in the organization, while adaptability and mission are external.

The vertical section of the circle draws a line between flexible organization (left half of the figure) and stable organization (right half of the figure). Engagement and adaptability determine organizational flexibility and propensity for change. And consistency (consistency) and mission determine the organization's ability to stability and manageability.

Mission and alignment have a greater impact on financial metrics such as ROA (return on assets), ROI (return on investment), and ROS (return on sales). A Mission and Alignment Index value between 3 and 4 typically indicates a high return on investment, assets, and sales, as well as an organization's operational strength.

Alignment and engagement (internal focus) affect quality, employee satisfaction and return on investment. Similarly, the value of the indices of these parameters from 3 to 4 indicates a high level of product quality, a lower percentage of defects and rework, the correct distribution of resources and a higher level of employee satisfaction.

Engagement and adaptability have an impact on product development and innovation. The index of these parameters in the range from 3 to 4 points means a high level of innovation in production and service, creativity, quick response to the changing desires and needs of both customers and their own employees.

Adaptability and mission (external focus) affect revenue, sales growth, and market share. When the values of these parameters are from 3 to 4 points, the organization is likely to experience a constant increase in sales and an increase in market share.

Thus, the Denison model, used to diagnose the company's corporate culture and process the survey results, helps the company's management answer the following questions:

do we know what we are doing;

how coordinated are our actions;

do we have organizational flexibility;

To what extent are employees involved in the development of the company?

In addition, the results of the survey make it possible to build the corporate culture that corresponds to the strategic goals and is necessary for the company to achieve them, and help to identify "levers of change", plan for culture changes, implement and track them (Scheme 2).

NOTE

Corporate culture helps:

form a decision-making system in the company;

set directions for activities;

manage the behavior of employees;

affect the performance and productivity of staff.

Questions (statements) of the Denison questionnaire characterizing the mission of the company:

1. Strategy:

the organization has a clear mission that gives meaning and direction to our work;
the organization has a long-term goal and direction;
I am clear about the strategic direction of the organization;
the organization has a clear strategy for the future;
the organization's strategy forces other firms to change their competitive strategies.

2. Goals and objectives:

there is full agreement about the goals of the organization between employees and managers;

leaders of the organization set far-reaching but realistic goals;

leaders of the organization speak formally, publicly and openly about the goals that employees are trying to achieve;

we continuously monitor our progress against our set targets;

employees of the organization understand what must be done to succeed in the long term.

3. Vision:

we in the organization have a shared vision for the future of the organization;

leaders of the organization are future-oriented;

short-term goals rarely conflict with the organization's long-term orientation;

our vision of the future inspires and motivates our employees;

we are able to meet short-term challenges without compromising our long-term prospects.

For a quarter of a century of the existence of the concept of "corporate culture", many methods for diagnosing this phenomenon have been proposed.

Diagnosis of corporate culture according to Shine

To assess the corporate culture of an organization, E. Schein proposed a method based on a consistent diagnosis of the group cultures of small groups that make up any organization4.

For each such group, the goals of the organization are formulated, and then a consistent discussion of the concept of culture corresponding to the solution of these goals is carried out; identification of artifacts and determination of the values of the organization. Then the artifacts and values are compared for their mutual correspondence.

Then the specified procedure is carried out with the second and subsequent groups.

Based on the identified values of the groups, the shared assumptions that exist in this organization are determined.

Thus, Shine proposes the following sequence of group diagnostics of corporate culture:

define the "business problem";
discuss the concept of culture;
identify artifacts;
define the values of your organization;
compare values and artifacts;
repeat the process with another group;
define shared assumptions.

Comparison of the shared values determined as a result of such a complex process and the formulated goals of the organization makes it possible to identify their compliance or inconsistency with each other.

In relation to M&A transactions, this means that we diagnose the corporate culture of the target company using the specified method for its compliance with the goals of the combined company (in the case of a merger) or the acquiring company (in the case of an acquisition).

Diagnostics of corporate culture according to Cameron-Quinn

Cameron and Quinn proposed to assess corporate culture using a method they called the Organizational Culture Assessment Tool (OCAI)5. The purpose of this tool is to identify the current culture of the organization and determine the culture that the members of the organization want to build so that the organization matches the predicted state of the external environment.

The OCAI method is based on the use of a six-item questionnaire requiring individual responses. In Cameron-Quinn's revision, these six points are formulated as follows:

the most important characteristics;
general leadership style in the organization;
employee management;
the binding entity of the organization;
strategic goals;
success criteria.

Each of the six items has four response options (Y B, C, D); however, the assessment methodology assumes that the researcher distributes 100 points between possible answers.

Further operations with the received answers are based on the use of a theoretical model called the “competing goals framework”. This model assumes the coordinates “internal control and integration - external positioning and differentiation” and “flexibility and individualism - control and stability” as key aspects of the classification. In these coordinates, the types of corporate cultures proposed by Cameron and Quinn are called CLAN, ADHOCRACY, HIERARCHY, and MARKET (Fig. 3).

Each quadrant in Fig. 3 is a set of certain values and basic assumptions, i.e. those elements that characterize the corporate culture. Numerous experimental confirmations of the described model allowed Cameron and Quinn to conclude that the OCAI tool allows one to reliably diagnose "the dominant orientation of the organization based on these core types of culture."

The practical significance of the OCAI instrument in relation to M&A transactions is as follows.

If, as a result of the diagnosis of corporate cultures of the merging organizations, it turns out that they belong to types located in the same quadrant of the “framework” (Fig. 3), then the chances of a successful merger are very high.

If the types of corporate cultures are located in diagonal quadrants (for example, "clan" and "market" or "bureaucracy" and "adhocracy"), then the chances of a successful merger are close to zero.

The location of the types of diagnosed crops in neighboring quadrants of the "framework" allows us to conclude that it is necessary to develop a particularly thorough integration plan for the merging companies.

The diagnostic methods described above provide a very accurate assessment of the corporate culture of the target company. The disadvantages of both procedures described above is the significant time (especially for the E.Shine method) of the analysis.

Nevertheless, these methods can be used in relation to M&A transactions, especially in cases where the target company is included in the operational management holding6, when the involvement of the corporate center in the activities of the acquired company is very high and the issue of compatibility of corporate cultures of the two companies becomes very relevant.

Application of system diagnostic methods

In some cases, to assess the corporate culture of the target company, the methods of system diagnostics described in the previous article can be used.

In this case, the use of the organization model (let's take Weisbord's "six cells" model for definiteness) in combination with the partially focused interview method allows us to draw certain conclusions about the mutual correspondence of the corporate cultures of the target and acquiring companies.

Example 1. Company "Combine"

A diversified holding (plastic film production, commercial real estate management and anti-crisis consulting) decided to expand its production activities and acquired a controlling stake in a large plant for the production of artificial films and packaging in the Central Region. When planning the acquisition, the owner of the holding formulated the strategic goals of the merger as follows:

increase market share by acquiring the target company;
reduce fixed costs by combining the distribution systems of the holding and target companies and by selling non-core assets;
reduce variable costs due to economies of scale in the procurement of raw materials;
increase the market value of the combined company by achieving the first three goals.

At the time of the acquisition, the Combine had serious debts to the Bank; a significant part of the shares was scattered among the employees of the Combine (privatized under the second form). The advantages of the transaction for the acquirer include relatively new equipment; to the minuses - the presence of numerous "daughters" operating on the premises and equipment of the Plant, a significant "social program" and non-productive assets. Given the high social significance of the Plant (the enterprise is a city-forming enterprise), the buyer secured the consent of the regional administration to take over the target company, as well as the Bank's consent to roll over the loan. After the acquisition of the Combine, the Holding took over the operational management of finance, sales and purchase services. To achieve strategic goals, the financial and commercial directors have been replaced, the marketing policy is completely determined by the "parent" company. In the near future, the Holding's management plans to replace all top managers of the enterprise, and in the longer term - to switch to strategic management of a subsidiary. The first year of work after completion of the takeover transaction revealed the problem of inconsistency between the corporate cultures of the parent (Holding) and subsidiary (Combine) companies.

According to the degree of intervention in the internal affairs of subsidiaries, the holding is an operational holding with a fairly developed structure and financial management skills. In a holding company, the system for making a significant number of decisions relies directly on the owner, while the company lacks the skills to manage large-scale production. According to the Cameron-Quinn classification, the corporate culture of a holding company belongs to the class of clan cultures. Over a long period of time, the plant developed in the same way as most Russian privatized enterprises: top managers accumulated a controlling stake in their hands; a large number of "daughters" appeared, with the help of which both profit from the main activity and financial flows from non-core activities were withdrawn from the Plant. According to the classification of Cameron-Quinn, the corporate culture of the Combine belongs to the class of hierarchical ones.

As follows from the above, the location of the types of diagnosed crops in neighboring quadrants (in this case, CLAN and HIERARCHY) allows us to conclude that it is necessary to develop a particularly thorough plan for integrating the Combine into the Holding structure. Neglect of such a plan, taking into account the shortage of qualified top managers who have the skills to integrate the acquired enterprise into the structure of the acquiring company, can lead to very negative consequences.

Example 2. Commercial bank

Two large local commercial structures decided to acquire a regional bank, which had previously been a subsidiary of a large "Moscow" bank for several years. The corporate culture of the new owners can be characterized as a combination of CLAN and ADHOCRACY (Fig. 3). Diagnostics of the management system and corporate culture of the Bank a year after the takeover led to the following conclusions:

1. Shareholders and top managers of the Bank have not defined a common approach to its development - whether it should be a tool for solving business problems of companies owned by shareholders ("corporate bank"), or be an independent player operating in a competitive banking market and increasing its capitalization (“open bank”). Therefore, when making operational decisions, the Bank's managers proceed from their own understanding of its strategy.

2. The change of ownership and the related arrival of new people to the management team in any company inevitably creates a division into "old" and "new".

3. The lack of communication management leads to the fact that employees do not get the impression that they work in a single organization and that the success of the entire organization depends on their daily work.

4. The labor market in the region is experiencing a significant shortage of bank employees, so it is practiced to lure employees from one bank to another. The inability to keep employees from moving to another organization turns the Bank into a source of personnel for the industry in the local labor market.

5. The inconsistency of leadership in the Bank with the level of staff development is also a serious problem, which was investigated from the point of view of the Hersey-Blanchard situational theory (Fig. 4). Under the previous leadership, which was characterized by a rigid authoritarian style (S1) of management, the Bank selected personnel that corresponded to this style (R1), and the combination of these two styles was effective. With the arrival of new shareholders and a change in the management of the Bank, the leadership style in the Bank changed to the S2 style, which is characterized by significantly less authoritarianism and direct control. The staff remained virtually the same (R1). This led, as interviews with the Bank's managers confirmed, to a decrease in the level of performance discipline: you can not do something or do it at the wrong time, and no sanctions will follow.

6. The corporate culture of the Bank is BUREAUCRACY.

One of the recommendations that can be given to new owners is not to try to integrate the Bank into the structure of existing financial and industrial groups, but to develop the Bank as an independent business unit associated with these financial and industrial groups only by common owners.

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