Core values shape organisational attitudes and employee behavior, and in today’s business climate they are essential to achieving a competitive edge. You might think of works like “quality”, “excellence”, or “customer service” when thinking about what core values might be applicable to your business. While these words and attributes are definitely positive additions to your business’s core values, they are somewhat cliché and perhaps don’t assist as much as others could in creating core values that will give your business a competitive advantage.
For this reason, the core values we at Maxum focus on “strategic values”, as described by Richard Osborne in the article referenced below. Osborne talks about how core values should be thought of as part of a company’s strategy.
Osborne states that core values and also the cultural values of an organisation should “enhance and extend a firm’s strategic values rather than, as increasingly occurs, serve as an independent expressions of corporate beliefs” (Osborne, 2016). Core values contribute to a competitive edge when organisations create them with both a comprehensive knowledge of their business environment, and a high level of clarity about their objectives and goals.
While it’s one thing to understand the advantage that core values – or as we are talking about them here ‘strategic values’ – can add to your business, it’s another thing to create and implement them. If you’re interested in knowing more about how you can create and implement core values, contact Maxum Corporation today. We specialising in business and entrepreneurial coaching and mentoring, with a wide range of programs from our Entrepreneurial Greatness Program to our custom corporate retreats. For more details, click here.