Core Values are often overlooked as an important, in fact vital, part of strategic planning for a company. While Core Purpose is the Mission and identifies why the company exists, Core Values fundamentally outline what the company is and how it will operate. Hence, it is a critical base upon which to build the company’s plan.
Core Values are essential and enduring tenets which prescribe the attitude and character of an organization. They are a small set of timeless, guiding principles that require no external justification, but have intrinsic value and importance to those inside the organization. Therefore, there is no universally right set of Core Values. Companies generally have only 3-5, since only a few values will be truly core.
Can you see the critical strategic importance of the Core Values stated below for these four companies? They clearly define and help shape the direction of the company. You will note that only one mentions honesty and integrity. That doesn’t mean that the others do not value it. In most cases, it is a given. Companies just cannot survive in any business without it and so it is generally not stated for inclusion. Look at the values and see the impact that they have on their organizations. I suspect that you will be nodding in agreement with most of them as you reflect on each company.
Corporate social responsibility
Unequivocal excellence in all aspects of the company
Science based innovation
Honesty and integrity
Profit but profit from work that benefits humanity
Service to the customer above all else
Hard work and individual productivity
Never be satisfied
Excellence in reputation; being part of something special
Elevation of the Japanese culture and national status
Being a pioneer – not following others; doing the impossible
Encouraging individual ability and creativity
Nurturing and promulgation of wholesome American values
Creativity dreams and imagination
Fanatical attention to consistency and detail
Preservation and control of the Disney magic
What are your personal Core Values? What are the Core Values for your company? How closely are they aligned? If they are not well aligned, you had better start looking for a new company because you will ultimately become very unhappy.
If we can help you with not only crystalizing the Core Values, but helping you to build the strategic plans on them, contact us.
Maver Management Group