2 Core ValuesBuilding your company’s vision (Collins & Porras, 1996)Companies that enjoy enduring success have core values and a core purpose that remain fixed while their business strategies and practices endlessly adapt to a changing world.
3 Core Values Core values - A small set of timeless guiding principles Only a few values can be truly coreTo identify the core values, determine the values that are central and passionately heldValues must stand the test of time, they do not change with the market, company’s change markets to remain true to core values.
4 Core Values Core Purpose is the organization’s reason for being Reflects people’s idealistic motivation for doing the company’s work.Captures the soul of the organization.You might achieve a goal or complete a strategy, you cannot fulfill a purpose.Nike’s core purpose - to experience the emotion of competition, winning and crushing competitors3M’s core purpose - to solve unsolved problems innovativelyWalt Disney’s core purpose - to make people happy
5 Core ValuesGeneral Electric "I believe that our reputation for integrity and honorable dealings is our most important asset. Your GE team believes that strong integrity is the foundation of great performance. I hold myself to a high standard, and I know you will do the same." Jeffrey Immelt, Chairman & CEO
6 Core ValuesGoogle “We’re building a culture rooted in transparency, innovation, and scale.”Sergey Brin & Larry Page
7 Core ValuesThe Soul of Dell - Dell's success is built on a foundation of personal and professional integrity. We hold ourselves to standards of ethical behavior that go well beyond legal minimums. We never compromise these standards and we will never ask any member of the Dell team to do so either. We owe this to our customers, suppliers, shareholders and other stakeholders. And we owe it to ourselves because success without integrity is essentially meaningless. Michael Dell, Chairman
8 Core ValuesPeople who articulate core values must answer a few questions:What core values do you personally bring to work?What would you tell your children are the core values at work and that you hope they will hold at work someday?If you awoke tomorrow with enough money to retire, would you continue to live those core values?If you start a new organization, what core values would you build into the new organization?
9 Core Values of Carroll School of Management Honesty & Integrity, We are committed to promoting the highest standards of honesty and integrityMutual Respect, We are committed to fostering an environment in which every member of our community nurtures the spirit of trust, teamwork, openness and respectPursuit of Excellence, We are committed to creating an environment where all members of the community pursue the highest possible level of academic performance and personal development.Personal Accountability, We are committed to fostering an environment where every member of the community understands and accepts responsibility for upholding and reinforcing our values
10 Why are Core Values Important? There is a need for alignment between personal values and organizational valuesWhen there is misalignment, bad things usually happenWhen there is alignment, your potential increases significantly