Every year, 7 Days, a large retail chain, organizes a large annual function in which it gives an "Employee of the Year" award to a deserving employee, along with a $5,000 cash prize and an opportunity to launch the retail chain's new product.This is an example of which of the following components of organizational culture?

Question

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The annual function where the "Employee of the Year" award is given, along with a cash prize and an opportunity to launch a new product is an example of a ceremony, which is a component of organizational culture. Ceremonies are formal events that recognize and celebrate important milestones, achievements, or events in an organization.

Every Year, 7 Days, a Large Retail Chain, Organizes a Large