In addition, they constitute their philosophy and guide their decisions and behavior.
Therefore, among the objectives of a company's values is to generate behaviors in accordance with these principles.
In an ideal scenario, every employee is able to remember and apply the company's values. However, reaching that point requires teamwork and commitment.
For example, leaders in each malaysia mobile number list sector of the company must transmit values in practice, both to employees and customers, which eventually generates identification with the organizational culture.
Why is it important to define a company's values?
Because a company’s philosophy not only defines its identity and position in the market, but also influences the value it places on its products. Indeed, purpose-driven consumers would pay up to 67% more for items from sustainable brands.
Furthermore, business values have a high impact on every sector, project or strategy. A strong organizational culture manifests itself when all collaborators accept and promote business values. These dictate everything from how the team communicates with each other to how they implement and encourage innovation in the workplace.
Risks of not establishing a company's values
Diffuse goals: the absence of values causes disorientation regarding a model of conduct to follow, which can lead to behaviors that damage the company's image.
Lack of direction: Without clear business values, there are no parameters for hiring people who share and identify with these principles.
Finally, defining a company's values is important because they are a tool for setting the direction of the business. Establishing transparent principles is essential for a genuine connection between your team, products or services, and consumers.
Business values are important because:
generate credibility;
ensure low employee turnover;
foster a strong organizational culture;
improve the company's economic performance;
facilitate the achievement of objectives.
Mission and vision: are they part of a company’s values?