Introduction Organisational culture is a set of rules and priorities which help the company meet its mission and vision, complete tasks, satisfy customers’ needs, and create its image. Depending on the country the company performs into, the principles of the organisational culture may differ. The innovation in organisation change may vary because of the peculiarities of business running in a particular country. The innovation is a set of actions aimed at solving the problems by setting up new decisions, approaches, etc. Considering the problem of innovation, change, and organisational culture and applying the issues to personal experience, it may be stated that the main purposes of this paper are to review the theories of the nature of organisational culture. We are going to dwell upon the impact of innovation in those theories and critically discuss how the leaders of an organisation can affect the change. We will examine how culture influences behaviours related to innovation and change in an organisation in the investment banking, and recommend the strategies and actions that could be implemented by the organisation’s leaders to improve or create a fitting culture. A critical review of the theories of the nature of organisational culture, including how it may impact innovation, and how it may be affected by the leaders of an organisation The notion of organisational culture is similar to understanding business and leadership. However, there are several differences noticed only because of the organisational culture. Therefore, some sources claim that the leadership is a notion, which has the same definition in different cultures, however, due to the cultural differences, the organisations usually point at the characteristic features of the leaders. Thus, being charismatic personalities, the leadership style under such characteristic feature aims to seek for transformational style of leadership with the purpose to set up innovation. Thus, in some cultures “one might need to take strong, decisive action in order to be seen as a leader, while in other cultures consultation and a democratic approach may be the preferred approach to exercising effective leadership” ( [email protected] 1999, p. 1). Considering such approach as the nature of innovation and the difference as the personal characteristic feature set on the leader, it may be stated that the failure to meet the requirements of the leadership in a particular organisational culture may lead to failure to run business. The organisational culture is to meet the social processes, corresponding to the environment and meet the rules prescribed in the country. Dwelling upon the nature of the organisational change, many scholars believe that there are three layers of organisational culture which imply the correct functioning of business in the frames of one specific tradition. The lower layer of the organisational culture is the assumptions, the issues that are taken for granted. The next level is the beliefs which control behaviour. The upper level is considered to be the values which usually cover the mission, the vision and the objectives of the company. Each of these layers performs a particular purpose that cannot be substituted. Moreover, each layer is responsible for particular