Perhaps when you see the word ‘values’ your mind instantly envisions moral values or principles like honesty, integrity, compassion, or gratitude. While these moral values are laudable, business values are a little different.
To me, business values are about a business placing a stake in the ground and declaring what the company stands for: Customer Service, Fun, Superior Quality, People First, etc. Business values are:
- The rules by which business is transacted 100% of the time.
- The measuring stick by which employees are evaluated.
- And the guiding principles that employees can use when they encounter a situation that is new to them.
When well defined business values are disseminated across an organization they raise awareness of what is important. They lead employees to question how they are currently doing business. They guide leadership to develop appropriate strategies. And they become a daily part of how business is done. In short, they become imbedded in the company culture.
Business values are integral to your company’s growth, to your ability to authentically empower employees, and to defining your brand.
What are your business values?
Are they defined and documented for all to see and live?
Do you use them to guide decision making and evaluate performance?
If not, what is stopping you?