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Strategic business planning top tips - The importance of values

Posted by Nicky Hawkins on Nov 16, 2018 5:00:34 PM

Strategic business planning top tips - The importance of values

The importance of values

Values are the essence of a corporate culture as they set out what characteristics are important to your organisation. If these values are widely shared across the organisation and are reflected in the everyday actions of employees at all levels, both individually and collectively, then this reinforces the culture of the organisation.

We would recommend that there are not too many core values for an organisation – typically no more than five.

Examples may include; honesty, teamwork, professionalism, embracing diversity, customer focus, commitment, and so forth. It is important that these values are supportive of your organisations vision.

How to develop values:

  1. Hold a values meeting with stakeholders.
    1. This may be attended by managers, key employees, and stakeholders.
    2. Paint the picture of what you are about.
  2. Get individuals to consider their personal values and how these may reflect the organisation.
  3. Combine these value suggestions and have clear definitions of each.
  4. Draft a shortlist of values and share for feedback.
  5. Finalise the values and communicate them to all stakeholders.
  6. Roll out core values and integrate into everything that your organisation does.

Once this step is completed the next stage you need to move onto is to complete STEP analysis.

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Topics: Performance management, People Management

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