Culture for a long time has been a critical part of a company’s success. A good culture can be a hidden origin of a company’s greatness and always makes the company customers loyal to the firm. With the changing environment in which many companies operate in, it important that any company wishing to remain relevant align it values to the emerging trends. A company’s culture is informed by the core values the company is identified. In many online webs paged of companies, it common to find companies listing what they consider being their core values. The dedication of a whole section to explain the core values of the company shows how critical core values are in marketing the company. For a long time many companies have been finding it difficult to develop core values that will represent the culture of the firms. What constitutes a company’s core values? What’s the relationship between core values and the culture of a company? Does the core values have any impact on a company’s performance? And how does the management of the company cultivate certain values to shape the company’s culture, this paper seeks to provide answers to this questions.
There exists a strong relationship between core values of a company and its culture. Principles and core values are what informs the behavior of a company’s employees. Among the common values for many companies include; innovation, integrity, and respect. When one relates the frequency and importance of these values to measures of short duration and long-time performance of the company, there always exists a significant correlation. Thus, core values seem to inform a company’s culture which is always geared towards assisting the company achieve its set objectives and remain competitive in the market.Good core values translate into a good company culture which enhances productivity. A good set of company core values are the virtues the company stands for and wishes to be associated with at all times.
Core values help streamline operations of a company and in the process efficiency of service delivery s enhanced. High levels of integrity within companies has resulted in the companies having better industrial relations and such companies have reported higher rates of customer loyalty. Certain core values have far-reaching benefits that behind them. For example, for a company that acknowledges respect as one of its core values tolerates diversity in all its activities. The activities may be in the skilled manpower which through respect can ensure everyone is included in decision-making activities this eliminates unnecessary industrial actions. Respect at workplace recognizes the development of both the physical assets as well as the manpower. With respect, it is easy to have a dignified workforce that is well empowered and dedicated to their work.The top management of any firm is responsible for shaping the company culture by leading by example in adhering to the company’s core values. The managers have to act with professionalism at all times. The existing structures within the firm must be well utilized to avoid internal friction.
In general, core values are directly related to the culture of a firm. Various studies have shown that core value of a company greatly affect the financial aspects of a company and determine whether the company can prosper or fail. Employees are also attracted to companies with good core values.
References
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