It is important to acknowledge the

It is important to acknowledge the limitations of the present study. First, as in the case in most survey empirical studies, this study is static and may not capture the changes in organizational culture over time. To prevent this bias, longitudinal follow up studies would be required. Second, the self-report data may be affected by common method bias (Podsakoff et al., 2003). To prevent this, it is recommended that studies include different sample groups of people (e.g. different managers, different functions). Third, this study focuses on financial performance. Future research could explore the implications on non-financial measures.