Organizational culture has been studied widely by researchers over the past three decades and the literature on Organizational Culture is vast and diverse. This paper intends to find answers to certain questions such as: 'how does culture evolve in the organization?' and 'Can culture really impact corporate performance?' and 'can culture be managed?' Literature related to organizational culture reinforces the fact that culture is crucial to organizational change initiatives; management of human resources across nations and leadership to effect organizational performance. To a large extent it supports the firm to develop long term corporate sustainability. This paper aims to understand the dynamics of Organizational Culture with contrast to Organizational Performance and the underlying research which has been under taken in this context.