Why can't you ignore it? If a company doesn't stick to its own beliefs, it will always be noticed by consumers of goods or services, which will lead to a loss of trust and a decrease in sales. It will also undermine the morale of employees, which will affect the quality and results of work.
In this article:
What are company values?
6 Functions of Corporate Values in Business
What role does the value system play in a company?
Can a company operate successfully without values?
Types and kinds of company values
4 Basic Values of Any Company
10 Requirements for Company Values
How to Form Company Values: A Guide from Top Managers
3 Tips for Implementing Company Values
Typical mistakes when implementing a company's value system
How to Maintain a Company's Value System
How to effectively communicate company values
What is the difference between a company's values and its mission?
Successful examples of Russian companies' values
8 Signs It's Time to Rethink Your Company's Value System
Frequently Asked Questions About Company Values
In-Depth Guide: How to Cut Your Ad Costs by 25% with Artificial Intelligence
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What are company values?
The corporate values of a company are the theses on philippinen vorwahl whatsapp which any enterprise is based in the process of both internal and external communication.
Corporate values can be:
integrity;
authenticity;
honesty;
diversity;
innovation;
teamwork;
leadership;
stability;
originality;
productivity.
The internal values of the company influence the interaction process between managers, employees and the team. So, if the organization values independence and the ability to take responsibility, then managers will have to monitor the status of each task and check the work of each performer on a daily basis.
What are company values?
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Corporate values determine how a company will build its work with the outside world. That is, with clients, users, partners, and the state. If such interactions have uniform principles, then the work, services, and communication style will be the same regardless of the situation.
Thus, if a manager needs to go on vacation or change jobs, his regular clients will be transferred to a colleague. Since the company has uniform corporate values, there will be no difference in interaction for consumers, and no one will wait for the first manager to return from vacation to conclude a deal, nor will anyone follow him to a competing company.
Read also!
"9 Types of Customer Loyalty Programs"
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6 Functions of Corporate Values in Business
It is almost impossible to overestimate the importance of a company’s value system:
The principles serve as a guideline for the formation of correct employee behavior, simplifying the decision-making process. As a result, the company achieves its strategic goals faster.
Thanks to values, the corporate culture of the organization is formed - together with the business, they act as its foundation. Such a system also motivates and inspires people, increasing their level of involvement and responsibility in their work.
Common principles bring the team together, giving a sense of community. Every person wants to be part of a team of people who are similar to each other, who have common views and interests. A group of like-minded people is formed precisely due to their commitment to the same versions of the company's values.
Thanks to specific principles, the number of hiring errors is reduced - already at the interview stage, the HR specialist has the opportunity to assess to what extent the candidate shares or is ready to share the company's values. If they are not close to him, then there is a high probability that the person will not be able to "settle" in the organization. This approach can reduce turnover and improve the adaptation of new employees.
Principles help to differentiate from competitors - the behavior of the company's employees and everything it broadcasts to the world affects the formation of the image and reputation of the business. Thanks to a unique image, a company can stand out in the market and demonstrate its competitive advantages.
The company's values form a strong emotional connection with clients and business partners. People feel more comfortable working with people who are similar to themselves and have similar ideals. For example, animal lovers will be more willing to visit dog-friendly establishments and communities, and those who adhere to healthy eating will not go to fast food for dinner.
The internal values of a company are necessary not only for selecting behavioral guidelines and making management decisions. In the long term, the principles should make the organization more sustainable and profitable, since the business has a stronger corporate culture, a cohesive team, and a strong emotional connection with clients and partners.
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Alexander Kuleshov
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