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Why is there so much talk today about values in business? Because in a fast paced, changing corporate world, they are often the only things that don’t change! Clear corporate values can be maintained no matter what. Some of the most successful organisations go to great lengths to preserve their values and put them before profit maximisation.

Companies like Cadbury Schweppes, Johnson & Johnson, Hewlett-Packard for example have discovered that they make good business sense. These companies out-perform others that put profits first and provide a better return to their shareholders over time. Clear values communicated both within and outside the orgainsation help towards recruitment and retention as much if not more than any pension scheme or health benefits. They also help develop and keep customer loyalty.

Think about it! If you are clear about your organisation’s values and committed to their enactment on a day-to-day basis, you are in a good position to respond to change flexibly and effectively when it comes because your basis never changes.

What are values?

Values are basic human principles, the principles, which we as human beings, all know to be right and just. We did not need to be told these things by someone else; we have always known them to be true. They are not beliefs.

Beliefs come from our past and are accumulated through years of being told things by others and by confirmation through our own experience.

It is not to say that beliefs are unimportant; on the contrary, negative beliefs can inhibit our performance and limit our outcomes. Luckily, beliefs can be changed!

Remember values do not change, so no matter what changes come along or what business you are in, you have a set of values that can guide and determine your performance in the market place. These values will resonate with your staff and your customers because they too have the same values even though they may not yet be quite aware of them.

Key benefits of corporate values

Corporate values give a clear message to your staff and your customers of what you stand for. Customers will build up loyalty to these values, knowing that when the going gets tough, you will stick by them

Corporate values help increase and attract both customers and new employees. Research has shown that well-qualified candidates for jobs have a fair amount of choice but that, increasingly, they choose not by the most attractive benefits package offered but by the values of the company itself.

Personal values

Most people are incapable of separating their personal values from the corporate values, or if they do, then they often feel dissatisfied and unfulfilled within their organisation.

If you are in a position to formulate the guiding principles of a company or of your own business, you know that the two go together and you can put forward a clear values-led management strategy. If you are not (yet) a company leader, you can introduce the concept of values into your work with your team and your customers and can seek to influence the institution of corporate values at a higher level.

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beliefs, corporate values, management, management skills, management training, Personal values, values, values in business, Values-led management

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This entry was posted by Heather Buckley on Wednesday, April 18th, 2007 at 3:29 pm and is filed under Management Skills. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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