THE STRATEGIC POWER OF CORPORATE VALUES

International business leaders recognize that defining and implementing the right corporate values is a top priority for them and a vital influence on the success of their organization. A survey in the UK shows that 80 per cent of organizations have written statements of values, the most important being people, competitiveness, customers, quality and productivity. The lowest ranked were social responsibility and profitability. Values have to integrate with strategies, structures and systems and engage those who must implement them. In an increasingly networked world, values provide common understanding and cohesion. The article proposes a five stage action plan for implementing corporate values in an organization.