Developing Financial Culture Management and the Sustainability of Workplaces in an Emerging Economy

Abstract

The quest for the sustainability of workplaces poses critical challenges, and studies have addressed the subject from several angles. This present research addresses this challenge from the angle of financial culture management (FCM). It has grown to become a particularly constraining issue for most businesses; regardless of workplaces experiencing higher profitability, it is more likely to be unsustainable due to a lack of proper financial culture. In order to accomplish this, the study used a descriptive survey approach. Based on factors like staff size, years of financial operations, and the locations of their offices both domestically and abroad, five (5) microfinance institutions in Lagos State, Nigeria, were selected as research participants. Findings revealed that financial culture management has a positive impact on the sustainability of workplaces, as evidenced by the results of the tested hypotheses using regression analysis. Leading to the conclusion that FCM supports and achieves workplaces' quest for sustained performance and viability.