Great examples of values and effective business strategies: management by values as a powerful corporate management tool
The modern market economy is a constantly changing environment. A strategy of changes is incorporated in its very nature, involving a high degree of free activities of market agents. Thus, a successful organization is an agent of continuous and consequent changes. Effective management assumes that organizational changes should be exclusively rational. In other words, managers need to think out and plan adequate mechanisms of organizational changes in terms of changes in the market. Rational management is related to the adoption of decisions about changes. Currently, changes represent the basis of the scheme of rational decision-making, which is related to the creation of images of the future: the assembling of target states of an organization (management by objectives), or prognostic process imagining, or the creating of employees’ behavioral patterns (for control of instructions). The changes rather than affective or impulsive reactions are a direct result of a well-planned management strategy. What is business value and what are examples of values ? You obviously need to comprehend the rather large differences and minor similarities between the purposeful and instructional conceptions and an especially refined idea related to values from the standpoint of employing them as a tool for development of organizations – especially, if you are seeking for implementation of management of values as an alternative to the instructions for management by objectives. As well as instruction, value has both legal and regulatory nature in terms of management of the organization, but, in contrast to instruction, it is weakly formalized and requires immediate effective recognition and cultural legitimacy on the part of employees. The normative regulation of behavior is similar to the concept of the value of a goal but, in contrast to the latter, it cannot be set by managerial will or the group leader’s will, and is associated mainly with unconstrained recognition. Value requires a sense as a natural recognition of a set of judgments and actions, which are involved in the re-creation of emotions and deeply personal life experiences and shape both an individual and the organization. Instruction and aim demand the presence of values in the first place: there must be specific signs and language to define them as well as a clear behavioral criteria in their formulation – and any professional paper writing service will tell you pretty much the same. In addition, value features rational and irrational sides at the same time. From the point of view of rational consideration, adoption and translation of values should be recorded and preserved in formal organizational documents, such as codes of conduct, ethical principles and treaties. But this fixation makes, as far as we can conclude, just the ‘tip of the iceberg’ where it concerns the comprehension of values. The ‘underwater part is built from special and very often incredibly rare elements whose name is cultural artifacts, which every employee is emotionally and affectively aware of, which act as powerful regulators of the daily behavior and as directors of purposes. Thus, one can imagine management of values as a tool for staff self-building placed in their own hands; it is possible and advisable to share regulations, objectives, tasks and solutions in this very simple way and base management on a set of non-rigid (figurative, metaphorical, affective) representations of values.
Examples of values : management by values as the subject of development of an organization
In case your business is growing with increasing speed or moving to a higher level you should know that there is always a risk for small and medium-sized businesses to fail to jump successfully to the level of corporations, mostly because of the bad location or loosened efficiency of resources of the team’s leadership. This situation was highlighted in many papers written according to the method of case study since it is generally believed as very dangerous: loyal managers cannot apply power because they are not professionals, and professionals cannot quickly grow accustomed to the organization due to the fact they are not loyal enough. The main problems with examples of values that managers see in such a situation are as follows:
- the lack of employees’ understanding of the organization’s ideas and values or wrongful directives of the organization leadership in places where values are concerned;
- the overall low level of communications between employees in the organization;
- a sharp increase in the number of employees followed by a significant decrease in handling them;
- the absence of effective mechanisms of socialization;
- the lack of cooperative coordination between the structural units;
- the excessive differentiation of corporate culture on divisions and conflicts between departments.
In order to build an effective project of the organization development you need, first and foremost, to identify and preserve values that are inherent to the leader (the organization leadership); it is necessary to analyze as many coursework examples as possible and design scenarios of the socialization of professionals and instilling of corporate values to them every time you create business plans for your organization. After identifying values of the leadership – thanks to which the organization has risen from the level of small and medium-sized businesses to the level of a corporation – the leader have to provide a description of the identified values of the organization in the form of a legend, in other words, expose the history of the organization’s origination and success. The purpose of the legend is to preserve and develop the myth of the creation of an organization. The main requirement to the myth of creation – it must be anthropomorphic, i.e. the myth of creation must be a story about specific people, for instance, about the founders of the organization. The legend of the organization can include stories about workers who have achieved a high position within the company. All facts must be specific and reachable for every personality (the best result is when employees face growing awareness that by following an appropriate attitude to their duties they can achieve the same reward).
Overviewing examples of values : how to instill and preserve essential values
It has to be said that methods of cultural preservation of company’s values may be very different. Besides the already mentioned organization’s legends, we can distinguish many other types of organizational culture that can be attributed to values:
- the launching and operation of the system of corporate ethics. This can acquire either a form of a code of ethics or a committee of ethics;
- the launching of the system oriented on propaganda of values as well as prospects and missions of the organization (training, workshops, visual agitation, mentoring);
- the organization of internal corporate PR system (an INTRANET page, a corporate newspaper, wall newspapers and bulletin boards, contests, internal presentations and the system of press releases);
- the concordance of values, incentives and motivation systems (organization of awards and bonuses for public and corporate performance, non-financial incentives, such as awards and honor rolls).
Introduction of the governance of values should be slow, but nonetheless deliberate and continuous (again, the aforementioned case study method may come in handy). As a result, employees must form a holistic view of the organization, also there should appear manageable procedures of self-identity and affiliation with the organization, both of which are the main purpose of this management model. A project of organizational development aimed at setting of values for the control system may include the following conventional components: 1) the identification of a system of values already existing in the organization; 2) the establishment of a clear mechanism of correlating the corporate value system with the system of values of a particular employee (socialization of employees, institutionalization of values, creation of a ‘value observer’); 3) the creation of ways of forecasting the development of a system of values in terms of the interests of an organization and the whole society. The identification the system of current values and examples of values in the organization may occur by an interview. This makes it possible for several issues to come to light, namely: 1) value words, metaphors and images consistently associated with traditional values that are in the minds of employees; 2) an image of the time structure of the organization, a metaphor about its birth, its performance and about changes in the ‘past – present – future’ hierarchy; 3) the origin of values (the group of people within the organization who were initiators of values). The analysis of identified values is necessary if you want to determine their adequacy in terms of survival of the organization in the market. The qualitative interpretation of the data can be carried out with help of the concepts of “rational myth” of the organization and a highly effective myth design.
Values are created in the company not only by a leader, and not only for the leader. Therefore, it makes sense to look at problems from the direction of an employee who represents another element of the interested party – for instance, one may find it quite appropriate to conduct a case study interview. No one will entrust themselves to the enterprise that does not establish a social tie and avoid creating personal relationships with them. Almost two decades ago, USSR declared values of socialism through the prism of the well-known principle of centralism where the most valuable directive of communism builders was “the happiness of our offspring”. It has to be noted that in that era it was a common thing to hear a saying like ‘we work hard but our children will live happily ever after’. However, the old era is gone, and the inefficiency of values did so too. What are realities of the contemporary value determination? Most companies of the former Soviet Union are still consumers of competence of their staff and keep changing money on the workers’ skills. But a significant portion of these old rusty schemes have changed. Not only highly trained and talented workers need money and meaning both material and spiritual. Increasingly, we grow in interest to our feelings regarding what we are doing in the organization and what our final target is. Ideally, the exchange should include both skills and loyalty. Hence, the key values of the company not only are important for the entire organization but for its employees as well. To complete the picture you need to look at the values of your company, not only through the eyes of your colleagues (managers and workaholics) but also through the eyes of customers. We can see that more and more people and companies make their purchases in accordance with a number of eternal principles, which they accept and which, in their opinion, are really able to withstand the onslaught of time. And if the company’s examples of values correspond to the expectations of the consumer, then creating a ‘religion’ of some kind is a great and highly convenient way to instill these values. And if the principles are sticky and workable, then employees’ previous beliefs will never be achievable or desirable again. In its turn, the meaning of this is that no competition will be a dread to the company which offers its customers a joint path to perfection. That is why you should always remember that, depending on who or what you glorify, your employees and customers will praise and immortalize what feeds their values; and vice versa, your business might easily fail and reduce to ashes especially if the moral choice is not in your favor.
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