Values Theory
Just what do we mean by “values”?
Values are the ideals that give significance to our lives, that are reflected through the priorities that we choose, and that we act on consistently and repeatedly.” (Brian Hall, Values Shift)
Defining Organizational Values:
As personal values are to an individual so are organizational values to a group or a company; “quality” is a commonly cited example. Corporate or organizational values can be defined as that which represents what your company stands for and prioritizes as a business and for better or worse, these values are demonstrated every single day. Your organization's values are demonstrated through
your products and services, operations in the marketplace, employment and customer practices, community involvement (local and global) and environmental commitments.
In the world today, with a myriad of challenges to human well-being on a global level, focusing on our organizational values presents the opportunity for corporations to bring about sweeping change- an overhaul to the way we do business, government, even our own lives. Corporations with a values-based culture can truly “do well by doing good”.
Importance of Values:
Why are corporate values important? In the simplest sense, sharing an idea- or an ideal larger than oneself, for the common good is just good business. And producing and maintaining a values-based environment can have lasting positive consequences internally as well as for the world as a whole. For example, Jack Welsh, General Electric's visionary CEO had a simple mantra: To dominate your markets, you must focus on what will increase your reputation and productivity or decrease your costs of regulation. Your success in managing these three factors will determine the success of your business”. GE is clearly an example of a company that has made the leap from success to significance by focusing on their values.