It is important to understand the role of value underperformance differentials and inter-firm competition. Value creation in relation to technology and product functionality gives an understanding of technological capabilities. Research has contributed to increasing knowledge about value creation under performance improvement. This mechanism highlights the cultural significance of the strategy to differentiate products (Tohidi, 2012). Research demonstrates wide principles regarding multiple disciplines such as cultural sociology, anthropology, technical performance, and cultural terms (Thai & Anh, 2016).
The strategy scholars highlight the meaning of the product and its relation to the differentiation source. Strategy research also identifies religious values under wide-reaching social institutes. The scope of culture and society is expanded with the expansion of sociology research (Ives & Kidwell, 2019). The social influence of religion is clear from society because it aligns and modifies social values. The current study is about investigating the role of culture/religion in influencing value. It will elaborate on literary studies with the relation of societal values and religious influence.
One of the possible determinants is a culture that is widely acknowledged to show decision making power. This activity demonstrates the cultural background of companies under specific motivation, attributes, and entrepreneurial orientation (Mãguez). It is discussed in studies that people from different cultures capture different opportunities under particular tactics. Cultural differences work to shape ventures as a value creation process. The disruptive markets show a process of complete markets where some resources established businesses (Gupta, 2019). Digital disruptors in specific industries allow for improvements in products and services. Literature about entrepreneurship discusses the influence of culture on business motivation. Studies have revealed that cultural factors are important to highlight key differences in the organizational framework (Ives & Kidwell, 2019).
Culture is an influential factor because it works significantly for organizations and modifies the structure. Multiple approaches work inherently for the creation of a business environment because it is the role of culture that describes structural implementation (Tohidi, 2012). Some business models at the conceptual level illustrate the organizational background and corporate culture as they are influenced by societal values. A significant influence of religion is also seen in wide social institutes that appear through different societies and cultural spheres. The scope of culture and its relation to societal settings escribe clear evidence of the influential perspectives. The ubiquity of social influence is clear from the regional diversification.
Religion is primarily based on diverse values, beliefs, and practices that are helpful to modify the transnational movement. The research studies describe religion as a set of values that show peculiar decision making and establish a belief in culture (Gupta, 2019).
With the diverse array of structure and cultural significance, it is seen that institutionalized teaching has played a powerful role in the elaborate significance of religious systems. For some cultural practices, an embedded approach is discussed to express values and their meaningful approaches. Through various literary aspects, it is clear that religion plays a crucial role in shaping societal values so to create value. The concept of social values is related to the sustainability of society. It is all linked to the cultural understanding of future based aspects that work inherently to shift the traditional practices (BENTONVILLE, 2017). Research studies have focused on many perspectives of social and religious values that show transition when applied to society. This transition elaborates on the fundamental shift in growth centered society, where it appears important to discuss for human-based society.
If the cultural significance is focused on products, it is important to focus on the central insights of cultural anthropology—the collective understanding of the functionality of the product and its recognition of different descriptive kinds of consumer cultural beliefs. The cultural perspective is different when viewed in terms of sociologists’ perception because these scholars have related multiple theories to culture. The discussion of social value and the concept of value creation is linked to multiple business opportunities (Thai & Anh, 2016). In this way, it is crucial to highlight the required resources, expertise, and enterprise role. The enterprise’s creation is also valued significantly when it comes to discussing organizations.
The scope of entrepreneur creation is to assemble interdependent activities and create a logical sequence that develops some outcomes (Gupta, 2019). With the help of the value creation process, case-specific identity is made that works in multiple stages, for instance, when it comes to evaluating multiple business ideas that are feasible (Kang, 2019). In this regard, opportunity recognition plays a crucial role since it is linked to start a new project. The prospective entrepreneurs define the structural significance of the product and its linkage with value. The business opportunities are identified when there is a sophisticated need to work on values, either religious or societal (Ghazali et al., 2016). In successful organizations, the role of culture is rational, and value cannot be attained without culture. Value creation is attributable to employees, customers, and investors because these groups are linked inextricably.
Culture works most significantly in terms of organizational structural alignment and creating value. In some instances, where it is difficult to know about value creation about social values and religious values, it is important to identify the structure of the workplace and prevailing factors that are contributing to value or outcomes (Ghazali et al., 2016). This paper discusses some significant roles of culture and religious values in creating value. Corporate culture creates value for the organization’s development. It works to produce better goals of management and improves the financial performance of the firm. The scope of religious and cultural values is extensive because it prevails in many perspectives.
Research Question and Objectives
The research question of this study is how culture/ religions play a major role in creating value?
The study is important to identify how influential culture is:
- To prove a successful work environment, and
- To identify the process of value creation.
Case Study and Methods
The study involves a qualitative analysis of Walmart as a retail Distribution Company to understand the components of value creation. When a company engages with fast and rapid production methods, it tends to generate value. The process of value creation is not simple because it involves key integral cultural factors that play a crucial role in determining the success ratio. In this way, the scope of the workplace, employee participation, and, most importantly, the culture of the company plays an inherent role (Thai & Anh, 2016). The value of culture and religion is significant, yet needs examples to understand. The case study selected for this paper is Walmart Retail Company. Walmart is the corporate leader in managing culture and creating value.
The role of retailor in encompassing social and environmental system is based on transparency and trust. Through the positive mechanism of the workplace, enhanced productivity, and improved collaboration of employees have shown a key contribution in value creation (BENTONVILLE, 2017). The value-maximizing strategy employed by Walmart has shared its value with society, business, and its customers. The scope of work under aspirational goals is defined through the vision and approach of the company, and this aspect is evolving continuously. The sustainability, the opportunity is inherent in the community because they have shown a clear direction for the shared value, so involved true integration (Ghazali et al., 2016).
Retail supply chains are working on intense competition lines while Walmart has used increasing economic opportunity framework to support the community. It has addressed challenges that were impeding the career advancement of its employees (Asaael, 2019). The scope of Walmart’s profit in 2017 is based on investment because of huge investment in education; training has generated higher wages, so contributed to the value creation. This structural significance of Walmart Retail strategy is key to consider the role of social values and its influence on the value creation (BENTONVILLE, 2017).
Social values also played a major role in accelerating frontline mobility of jobs beyond the company. Due to sector-wide efforts, the company has made it easy to strengthen the skills transferability in the US (Thai & Anh, 2016). Research has indicated that Walmart has invested greater than $59 million to train its employees, educate them, and build educational institutions (Gupta, 2019). Walmart has invested in American jobs and supported many small, local, and diverse businesses thus highlighted the role of value creation.
Walmart Retail Company has multiple ventures, and its scope of operations is large. This extensive framework is not limited to the prevailing culture but also societal values as well as innovation. Many research studies have indicated that how value creation is carried out within regional diversity. The framework of value creation under Walmart has enhanced operations sustainability as well as the significance of the value chain. The concept of corporate culture is important to understand in large organizations because they work internally and transform the structure of organizations.
Walmart’s case study has highlighted that employee commitment is a strong component that contributes to value creation. Through the concept of value creation, it is recognized that better performance can be attained by improving the culture and structure of the organization. It not only contributes to the financial gain but also engages employees in the longer term. Culture is not a single entity that works to change the existing pattern, but it depends on the continuity and existence of core values. The success of the company is attributable to the right culture and the prevalence of strong values. It is a form of glue that keeps the organizational part together and guides all the decisions. The culture contributes to value, and in a society, it declares positive power for decision-making aspects.
There is a significant contribution of employees in Walmart because improving corporate culture brings innovation. This innovation is likely to enhance productivity and fulfills the mission of the organization (Gupta, 2019). This core way starts with trust and integrity. Corporate culture in Walmart has been proved a powerful factor for the long term success of a company. The significant part of strategy making is also positively related to the culture (Asaael, 2019). Value creation is a process that undertakes a set of values to modify the overall behavior of the organization. Walmart has contributed to the sustainable value chains, so it has set goals for the sustainability index. The case study highlights that retail brand is working under leadership to get a defined direction for long term profitability. In other words, this is a positive sign to contribute to value creation. Social qualities additionally assumed a significant job in quickening cutting edge versatility of occupations past the organization. Because of area wide endeavors, the organization has made it simple to reinforce the abilities transferability and to acknowledge the key framework that attributes value creation.
Conclusion and Future Research
The research study has explored the complex impact of values, i.e., social on value creation. The study has indicated the role of social values in the context of value creation and discussed the role of contributory studies. It is safe to say that consistent trends change the dimensions of value creation. It is also important to discuss that social and political aspects work differently to understand value creation. There are different ways to discuss the concept of value creation, yet for the case study of Walmart, it is inferred that corporate culture plays an inherent role in creating values. In societal matters, value is created when relevant factors are considered. The literary studies have answered the research question of this study because values are recognized in societal norms, and social practices play a considerable role in understanding shared value. The creation of value is linked to marketing and customer satisfaction in some perspectives.
Limitations of the study exist because of its limited scope to discuss social/religious influence to create values. The business philosophy is extensive, but there is the future scope for this research because it only explains limited variables, and their context is limited.
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