StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Benefits of Core Values to an Organization - Research Paper Example

Cite this document
Summary
From the paper "Benefits of Core Values to an Organization" it is clear that generally, to keep a company competitive and focused on its mission, vision and goals, a discussion of its core values should be done during each annual business planning event. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER94.5% of users find it useful
Benefits of Core Values to an Organization
Read Text Preview

Extract of sample "Benefits of Core Values to an Organization"

? Benefits of Core Values to an Organization Introduction Every organization has a purpose it operates and the goal it works toachieve. In order to achieve its goals, it has values that it observes to form the platform on which tasks and work, also employees code of conduct. Core values are different from business strategies, job description, and responsibilities; they guide employees conduct, interactions while in business and defines the road map to fulfill the mission statement of the organization. These are the daily practices carried out daily in the organization in every task and assignments. When employees understand the company core values, they prove aligned with the company’s objectives. Values are long-term drive for mission and goal achievement. When these values are well formulated, stated, and understood, they make a business prosper. Concisely, values have played inevitable roles in a company such as, guiding business processes, articulation what the company stands for, governing and controlling employees relationships and guiding the organization on how to reward employees and the society as a whole (Rossenfield, 2009). They also offer guidelines on how to teach and train employees and decision-making. Values are thus key aspects for every organization focused towards organizational goals and objects as they contribute significantly to these. Benefits of core value It is arguable that, a company with well-set and understood cores value performs excellently. This is for the reason that, the working atmosphere is restricted by those principles; processes are conceded out within the standards. This makes sure that employees remain focused on the mission of the company. As a result, assets are well utilized, and high profits are acknowledged. When employees understand and work within the company value, they feel that their working environment is favorable. As such, the employee will show their increased interest to work for the organization for a long time (Blanchard, 2009). In return, there is talent retention and prospective employees with new talents and technology would be very willing to join such an organization. When a company has high employees’ retention, it cuts down on costs associated with recruiting and retraining new employees. Furthermore, core values persuade best people into a company by attracting, advancing, and maintaining the excellent personnel. Values test employees and consequently subject them to a constructive approach towards tribulations and decision-making processes. When employees identify with and hold on to the core values, customers are happy and willing to be linked with the company. As a result, customers have a propensity to purchase more, purchase time after time, and even share the experience amongst friends who come to purchase to have a feel of the company. This tightens the connection between the customer and the business hence a long-term bond between the company and the customers. This guarantees client value formation by remaining receptive and focused to customer needs and value delivery (Rossenfield, 2009). Core values ensure that there is one global network and a standard product. For example, if a company has several branches or outlets, these core values are applicable to all its outlets, therefore, maintaining a standard product quality and services (Blanchard, 2009). This creates a condition whereby customers experience exceptional service. In addition, core values govern employees’ personal relationships as they lay the platform on how interactions are to be done. The explanation of this is that the set code of conduct in the company helps create a healthy relationship. When employees behave as expected, chances of conflicts are minimal, eventually helping each of them to present their expected results towards the company’s growth. The management have smooth running because theirs is a clear cut on how employees should respond to their supervisors therefore, it enhances obedience and respect in a company. Conflicts destroys working environment and employees reduce their productivity since they do not feel at ease to consult each other or even to work as a team. If conflicts are not solved as soon as they emerge, the organization can collapse gradually since there is no coordination and cooperation. Therefore, core values places the organizations interests before individuals’ interests. Therefore, core values foster respect between employees in an organization as diversity is valued and controlled. Further, the values help in treating each employee and customer in a manner that reflects the company values (Lawrence, 2008). Core values make sure that integrity is upheld in a company since every employee observes professionalism, transparency, and honest when executing tasks. Moreover, core values adds confidence to employees since they gain courage and confidence especially when making decisions and performing any assigned task for they know how they should conduct themselves and the expectations on their output (Rossenfield, 2009). Well stated and understood core values make processes easier and shorter due to the fact that instructions are clear and short, every employee has a vivid idea of what is expected of him and can execute it at ease. Effective processes increases production since there is no time wastage and resources are utilized maximally. When production is optimal, shortages are kept at bay hence continuous supply of goods and services. This on return influences the achievement of the mission of the organization. Decision-making is also made easier by values since there is a model or lay out on how consultations are made and who to be consulted (Blanchard, 2009). These decisions are made focusing on the purpose or mission of the company. When an employee is aware of the core values and has to make a choice, then such an employee makes own decision whether the resolution is about to make aligns with the organization’s core values. If it contradicts those values, the employee abandons such option and goes for a more focused one (Charles, 2006). This enables the employees avoid future frustrations, but the lack of values allows an employee to decide on personal assessments on time of crisis and this may make him stray more from the objectives of the company. Lawrence (2008) believes that when employees understand the values and behave accordingly, safety in the company increases. This is because employees carry out procedures as stated, are keen on every task they undertake. This reduces occurrence of accidents since t here is order and protocol. In an organization where there is no order, chances of accidents are likely to occur since tasks are executed at random which can create a state of confusion. Values also play a major role in quality production and customer satisfaction; when employees observe the company values, they will produce quality goods and services that are customized to their customer needs (Isobel, 2005). In return, when these customers are happy, they are likely to stick to the company for a longer time hence sustaining the company market share. This ensures the company stays profitable, and growth is evident. Core values creates a stewardship mind set in employees since they focus on both present and future business operations and out puts. They guide toward building a stronger and resilient organization for the future age bracket. The stewardship spirit also enables the company to be focused on the stakeholders’ expectations by developing employees and helping them improve both the society and global environment. Arguably, core values are coupled with the mission statement and vision of a company. When correctly and effectively defined between the employer and employees, they provide a consistent and transparent recruitment processes, rewards and penalties to employees. When dealing with market environment, these values help to define the organization regardless of subjected changes. Values create a vibrant support on running day to day operations. When a company is not keen with its values and belief system on executing tasks in both long-term and short term, the employees will work under their own value structure. The result is their interests will conflict with the company and will start work avoidance, interfere with ideas and projects because many employees’ values are dissimilar to the employers. When the values are not aligned together, there is a negative impact on employees’ productivity and engagement. When values get shared and understood by consistently by employees, there is a strong plat form that allows management and workforce decide in alignment what is fine for the company as a whole. As stated earlier, when a company misses to state its values, the employees and management keep on drifting from the objectives and mission of the company (Lawrence, 2008). In such situations, they no longer base decisions on the business perspective but rather on conditions and influences therefore gratifying personal expectations. Before management notices the drift, there is a lot of resource wastage and objectives abandoned along the way since focus is on the individuals interests. In conclusion, to keep a company competitive and focused on its mission, vision and goals, a discussion of its core values should be done during each annual business planning events. However, for the organization to perform effectively, an environmental scan should be carried out to identify the organization’s performance graph. Consequently, this information influences the next step to be conducted to cater for right decisions for the company future. In conclusion, well distinct and understood values contribute largely to the company success and prosperity in the future. References Blanchard, R. (2009). Creating Wealth With a Small Business: Strategies, Tactics and Models for Entrepreneurs. Charleston: Ralph Blanchard Charles, C. (2006). Core Success Journal. Lulu.com Isobel, D. (2005). Strategic Marketing Decisions In Global Markets. EMEA: Cengage Learning . Lawrence, J. (2008).The Future of Business: The Essentials. EMEA: Cengage Learning. Rossenfield, R. (2009).African American Core Values : A Guide for Everyone . London: iuniversal Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The benefits of employees embracing and understanding the employers Research Paper”, n.d.)
The benefits of employees embracing and understanding the employers Research Paper. Retrieved from https://studentshare.org/management/1459286-the-benefits-of-employees-embracing-and
(The Benefits of Employees Embracing and Understanding the Employers Research Paper)
The Benefits of Employees Embracing and Understanding the Employers Research Paper. https://studentshare.org/management/1459286-the-benefits-of-employees-embracing-and.
“The Benefits of Employees Embracing and Understanding the Employers Research Paper”, n.d. https://studentshare.org/management/1459286-the-benefits-of-employees-embracing-and.
  • Cited: 0 times

CHECK THESE SAMPLES OF Benefits of Core Values to an Organization

Organizational Analysis: Deloitte & Touch Tohmatsu Limited

Deloitte's human resource management is integrated with organization's strategic management, as evident from a report published by its Chief Human Resource Officer (CHRO).... Deloitte considers HR as one of the core functions and includes this function at strategic management by considering HR officers as HR business partners that share critical responsibility of the organization in managing employees.... Deloitte's knowledge-based work requires highly experienced and competent staff that can sustain the organization's position through competitive performance....
8 Pages (2000 words) Essay

Personal and Organizational Ethics and Values between For-Profit and Not-for-Profit Organizations

Influence of ethics in an organization Value and ethics of a particular organization can affect the four components of the structure of an organization.... Values go a long way towards deciding the culture and style of an organization.... For a profit-making organization, the main aim is to earn a profit (Tribe, 2011).... Every business organization needs to have some values and principles that would be the guiding principles while deciding on their strategies and morality of business work....
11 Pages (2750 words) Case Study

Organisation Value Strategies and How These Are Supported by Modern Technology

The success of an organization is highly dependent on the values and strategies used to attain those values.... For an organization to be competitive, it must have a well-established business strategy that will be pivotal in helping it achieve its values.... Within an organization, value statements dictate how individuals will behave.... Some of the most common values that can be embraced in an organization are; individuality, equality, responsibility, accountability, loyalty, credibility, and honesty among others....
17 Pages (4250 words) Dissertation

How Investment in Management Consultancy Can Represent Value for an Organization

Consultants who introduce the desired value to an organization are the consultants who stand out as being the most effective and are considered as to be having the ability to carry out different roles within the required time and are able to move from a client to the other without mixing up their responsibilities.... The idea of this research emerged from the author's interest and fascination in how investment in management consultancy can represent value for an organization....
8 Pages (2000 words) Essay

Effective Organization Structure

The paper 'Effective Organization Structure' presents McKinsey 7s model which explains how an organization goes about analyzing how well it is positioned to achieve its intended objective.... Successful organizations are those that have reckoned out the finest way to assimilate and harmonize its key basics, which depends on the model chosen by an organization for a referral.... When organizations approach, ecological forces and the organizational structure itself apt well, such an organization accomplishes well....
9 Pages (2250 words) Case Study

Organization Theory

Leaders are mainly different due to many factors, therefore each of which tries to lead in the organization that he is working at in the manner that will achieved the desired objectives.... Employees in any organization have different objectives, ideas and characteristics that affect their performance.... Therefore the role of the leader is to find a compromise between all of his employees to perform the organization objectives....
14 Pages (3500 words) Essay

An investigation into perceptions of employee benefits in UK

As a result companies have not integrated benefits and compensation system into their core management.... However, from early 1900s, there has been an increase in the usage and acceptance of various employee benefits as a compensation form apart from the direct wages (Rudman, 2003). ... onsidering the large difference in compensation pay and benefits across the Employee benefits can be short term, long term and termination benefits....
9 Pages (2250 words) Literature review

The Code of Ethics Organization

thical leadership is mostly applied by leaders in an organization to boost employee's morale and loyalty to workers.... The code of ethics an organization uses will determine the set of principles that will act as a guide in the organizational policies and programs hence ethical leadership is a guide.... Ethical leadership enhances organizational reputation in the community and the financial market since a solid reputation for integrity and ethics will improve an organization's business activities....
5 Pages (1250 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us