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?

A) stories
B) symbols
C) espoused values
D) basic underlying assumptions
E) ceremonies

E) ceremonies

Explanation:

In an organization's culture, ceremonies are extremely important for what they represent, not necessarily for the monetary amount of a price. A ceremony is a formal event and in this case it occurs in front of almost all the employers of the retail chain. The employee that is awarded the prize is not only given money, he/she is also being recognized for being the employee of the year in front of everyone else.

E) ceremonies

Explanation:

Base on the scenario been described in the question, the components of the organization which is being done every year is ceremonies

Ceremonies are events which are formal, that is been done generally in front of an audience of organizational members. Some types of ceremonies objective celebrations is for certain purpose, like meeting quality goals, launching a new product, reaching a certain level of profitability.