ORGANISATIONAL CULTURE AND SUSTAINABILITY OF SAVINGS AND LOANS COMPANIES IN GHANA- CASE STUDY OF SELECTED SAVINGS AND LOANS COMPANIES IN THE KUMASI METROPOLIS.

ABSTRACT

The main purpose of the study is to assess organisational culture and sustainability of savings and loans companies in Ghana - case study of selected savings and loans companies in the Kumasi Metropolis. The researcher used descriptive research design for the study. Quantitative research approach was used. The population for the study was 160.  The simple random and purposive sampling technique was used in selecting 120 respondents for the study. Questionnaire was the main instrument that was used to collect data. Computer data analysis such as Statistical Package for Social Sciences (SPSS) was used to analyse data. The study findings concluded that the company’s culture helps to shape the behavior patterns of employees in the Savings and Loans Company. Moreover, the company’s culture provided a sustainable vision to direct the progress of the business. To add more, the culture places a premium on career development, goal setting and pay-forperformance, all with the intent of maximizing employee performance and customer service. Moreover, the organizational culture influences the recruitment and selection activities of the company. Furthermore, the company’s culture supported employee training and development. Also, the company’s culture support creativity and innovation that sustains the business growth. The study concluded that the company’s culture promoted total quality management (TQM) and customer satisfaction. The challenges faced by the savings and loans companies were, the issue of Non-Performing Loans (NPLs) and inadequate Regulation and Supervision. The study recommended that the Bank of Ghana should intensify its monitoring, regulating and supervision duties in order to ensure that all the savings and loans companies possess an organisational culture that has been built on trust and good reputation for customers service and TQM.