But that does not mean that values do not matter. In organisations
that are innovative, profitable, and responsible — widespread dialogue about
the interpretation and application of values enhances accountability,
collaboration, and initiative.
Here are ten essential ingredients that make values work to
produce organisational value.
Values are a priority
for leaders, invoked often in their messages and on the agenda for
management discussions.
The entire work force
can enter the conversation; employees are invited to discuss or interpret
values and principles in conjunction with their peers, who help ensure
alignment.
Principles are
codified, made explicit, transmitted in writing in many media, and reviewed
regularly to make sure people understand and remember them.
Statements about
values and principles invoke a higher purpose, a purpose beyond current
tasks that indicates service to society. This purpose can become part of the
company’s brand and a source of competitive differentiation.
The words become a
basis for on-going dialogue that guides debate when there is controversy or
initial disagreement. Decisions are supported by reference to particular values
or principles.
Principles guide
choices, in terms of business opportunities to pursue or reject, or in
terms of investments with a longer time horizon that might seem uneconomic
today.
As they become
internalized by employees, values and principles can substitute for more
impersonal or coercive rules. They can serve as a control system against
violations, excesses, or veering off course.
Actions reflecting
values and principles — especially difficult choices — become the basis for
iconic stories that are easy to remember and retell, reinforcing to
employees and the world what the company stands for.
Values are
aspirational, signalling long-term intentions that guide thinking about the
future.
Principles, purpose,
and values are discussed with suppliers, distributors, and other business
partners, to promote consistent high standards everywhere.
In short, it’s not
the words that make a difference; it’s the conversation. Frequent
discussion about organisational values can be engaging and empowering. The
organisation becomes a community united by shared purpose, which reinforces
teamwork and collaboration. People can be more readily relied on to do the
right thing, and to guide their colleagues to do the same, once they buy into
and internalise core principles. People can become more aware of the drivers
and impact of their behaviour.
And, as you
can see in leading companies, active consideration of core values and purpose
can unlock creative potential.
For more, see: http://blogs.hbr.org/2010/06/ten-essentials-for-getting-val/
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