In society, culture in broad terms is the social heritage of a group (organized community or society). It is a pattern of responses discovered, developed, or invented during the group's history of handling problems which arise from interactions among its members, and between them and their environment. These responses are considered the correct way to perceive, feel, think, and act, and are passed on to the new members through immersion and teaching. Culture determines what is acceptable or unacceptable, important or unimportant, right or wrong, workable or unworkable.
In business or an organization like a club or council, culture illustrates the accepted norms and values and traditional behavior of a group. Some may say “the way a we do things around here.” Culture evolves over time by a set of collective beliefs, values and attitudes just like inside a country. Business culture will encompass as organization's values, visions, working style, beliefs, and habits.
Culture is a key component in business and has an impact on the strategic direction of the business. Culture influences management, decisions, and all business functions from accounting to production. Business culture is its own unique dimension that includes getting off on the right foot, meetings, negotiation, formalities, social media use, internships and work placements and other elements.
We say that culture is an inexpensive way to attract and retain the most impressive talent in the industry. Of course, wages need to align with industry standards, but many employees will stay with their company if they love it and their boss.