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Importance of Value Statement

A recent report released by the Highway Loss Data Institute discovered "no reductions in crashes (auto) after hand-held phone bans take effect." In the book The Ten Commandments for Business Failure, the author Donald R. Keough wrote: We can never pass enough laws to make men ethical. He then went out to cite the 71,000 pages of federal regulations along with the SEC and NYSE rules specific to the Enron scandal. The U.S. XVIII (Prohibition) was repealed by the XXI.

The evidence is overwhelming external rules and regulations cannot regulate bad behaviors. Yet, this appears to be the solution for many and is costing U.S businesses billion dollars in lost productivity, health care costs, legal costs, lost customers to ineffective training and development.

Effective organizations identify and develop a clear, concise and shared meaning of values/beliefs, priorities, and direction so that everyone understands and can contribute. Once defined, values impact every aspect of your organization.

Often the hardest part of the process is honestly determining what your business is. For instance, suppose your business provides a payroll processing service. In its simplest sense its business is providing financial convenience to its clients. The company performs a task that other companies would rather not do. Seeing your business in this light, provides a broader picture of financial convenience extending beyond simply doing the payroll. Why not add book keeping, tracking and collecting receivables, and personnel consulting? In this way, the planning process not only is a process for achieving goals, but prompts questions that may turn into opportunities.


Polls

When two or more people work together, the difficulties of achieving goals multiply. Everyone has their own idea of how to make the vision happen. Individual abilities must be taken into account for a group to work together optimally. What this means practically is that group members need opportunities to exchange ideas and make decisions about how to achieve the mission, values and vision.

One way to focus such a meeting is to lead a "guided fantasy" of the group's activities five or ten years down the line, then discuss the ideas it brought up. Doing an exercise like this can encourage people to develop their visions, loosening imaginative powers rather than falling into a polarized argument. A common mistake is to think you can determine your mission without changing anything you're doing. A mission is about making changes in the way you do your business. If stating your mission, values, and vision hasn't changed anything, it hasn't worked.


If you want the values you identify to have an impact, the following must occur.

  1. People demonstrate and model the values in action in their personal work behaviors, decision making, contribution, and interpersonal interaction.
  2. Organizational values help each person establish priorities in their daily work life.
  3. Values guide every decision that is made once the organization has cooperatively created the values and the value statements.
  4. Rewards and recognition within the organization are structured to recognize those people whose work embodies the values the organization embraced.
  5. Organizational goals are grounded in the identified values.
  6. Adoption of the values and the behaviors that result is recognized in regular performance feedback.
  7. People hire and promote individuals whose outlook and actions are congruent with the values.
  8. Only the active participation of all members of the organization will ensure a truly organization-wide, value-based, shared culture.

Vision and Mission Statements

Stakeholder Analysis

  1. Vision and Mission Statements
  2. What is Mission Statement?
  3. How to write Mission Statement?
  4. Mission Statements examples
  5. What is Vision statement?
  6. How to write Vision?
  7. Vision Value
  8. Vision statements examples
  9. Importance of Values statement
  10. Organizational goal setting
  1. What is a Stakeholder?
  2. Stakeholder approach
  3. Stakeholders in Corporate responsibility
  4. Different stakeholders
  5. Identifying stakeholders
  6. Stakeholder mapping
  7. Stakeholder mapping analysis
  8. Why Stakeholder Analysis?
  9. Shareholders vs Stakeholders
 

Strategic planning

SWOT and PEST analysis

  1. Strategic planning methods
  2. Strategic planning implementation
  3. Corporate planning strategy
  4. What is Situational Analysis?
  5. Planning strategic
  1. Business SWOT analysis
  2. Elements of SWOT analysis
  3. How to do a SWOT analysis?
  4. Use of SWOT analysis
  5. What is PEST analysis?
  6. Elements of PEST analysis
  7. How to write PEST analysis?
  8. Use of PEST analysis
  9. SWOT and PEST analysis
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