a)
i. The Role of Culture in an Organization:

• Guiding Behavior: Organizational culture serves as a framework that guides employee behavior and decision-making processes within the company. It shapes how employees interact with each other and approach their work, thereby influencing overall organizational performance.

ii. Four of the Six Inter-related Elements of Culture Suggested by Johnson and Scholes:

1. Symbols: The use of symbols, such as logos, language, and rituals, that represent the organization’s identity and values.
2. Rituals and Routines: Established practices and ceremonies that reinforce the organization’s values and promote a sense of belonging among employees.
3. Values and Beliefs: The core values and shared beliefs that shape the organization’s identity and influence employee behavior.
4. Stories and Myths: Narratives that convey the organization’s history, values, and lessons learned, serving to reinforce cultural norms and inspire employees.

b) Analysis of the Stakeholder Theory of Corporate Governance:
The stakeholder theory posits that organizations should consider the interests of all stakeholders—such as employees, customers, suppliers, investors, and the community—in their decision-making processes. This approach contrasts with the traditional view that prioritizes shareholder interests above all else.

Two Considerations Underpinning This Theory:

1. Inclusive Decision-Making: The stakeholder theory emphasizes that businesses should engage with and address the needs and concerns of all stakeholders. This inclusivity can lead to better decision-making and enhance the organization’s long-term sustainability.
2. Long-Term Value Creation: By considering the interests of a broader range of stakeholders, organizations are better positioned to create long-term value. This approach fosters loyalty and trust among stakeholders, which can lead to improved reputation, customer satisfaction, and ultimately, profitability.