Presentation on theme: "Core Values Timeless Guiding Principles. Core Values Building your company’s vision (Collins & Porras, 1996) Companies that enjoy enduring success have."— Presentation transcript:
Core Values Timeless Guiding Principles
Core Values Building 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.
Core Values Core values - A small set of timeless guiding principles Only a few values can be truly core To identify the core values, determine the values that are central and passionately held Values must stand the test of time, they do not change with the market, company’s change markets to remain true to core values.
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 competitors 3M’s core purpose - to solve unsolved problems innovatively Walt Disney’s core purpose - to make people happy
Core Values General 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
Core Values Google “We’re building a culture rooted in transparency, innovation, and scale.” Sergey Brin & Larry Page
Core Values The 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
Core Values People 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?
Core Values of Carroll School of Management Honesty & Integrity, We are committed to promoting the highest standards of honesty and integrity Mutual Respect, We are committed to fostering an environment in which every member of our community nurtures the spirit of trust, teamwork, openness and respect Pursuit 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
Why are Core Values Important? There is a need for alignment between personal values and organizational values When there is misalignment, bad things usually happen When there is alignment, your potential increases significantly