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Work culture is based on universal values -- physical values (e.g. speed and punctuality), organizational values (e.g. systematic functioning and coordination) and psychological values (e.g. integrity and respect for the individual). Work culture is the foundation for all productive activities. ‘’Elevating the work culture will raise operational efficiency far more than can be done through traditional approaches. It is done by effectively imparting the higher attitudes of senior executives to those at lower levels of the organization.’’
Corporate culture is a very broad term which includes the orientation of the company and its people to all the qualitative dimensions of interpersonal interactions and business performance. Values represent the most conscious core of corporate culture, rather the effort of management to consciously elevate some aspects of corporate culture to a higher level of performance.
We measure the value of a value in terms of the extra profit it generates.
Every corporate value can be converted into profit-value.
A systematic effort to raise operational performance on key corporate values can serve as a powerful lever for integrating separate business units into a more cohesive group and energizing an organization to multiply its profits. The most successful companies in value implementation either implement one value 100% or several values 10%. To be comprehensive and achieve maximum results, implementation of all essential work values must approach 100%.
While many companies espouse high corporate values and urge their people to realize them, these efforts are usually limited to a commitment by top management, communication programs to staff, and inclusion of values in the performance appraisal process. ‘’In practice, the result is usually more talk than action and the actual levels of value implementation achieved remain far less than optimal. The amount of energy required for implementation is an accurate index of overall corporate efficiency. The higher the efficiency, the less the time and energy required for elevating values.’’
Values lend themselves to systematic implementation just as readily and completely as the quantitative objectives covered by the strategic planning process.
A comprehensive approach must also include formulation of quantifiable and measurable standards for each value in each area of operations, assignment of responsibility for achieving these standards to people all the way down the line to the production floor, systems for implementing and monitoring performance on the values, and essential skills to elevate performance. ‘’’Use value implementation as a higher level strategy to energize organization and make it come alive. A comprehensive program of value implementation can dramatically improve performance and profitability.’’’
See Also Living Values