The Importance Of Core Values In An Organization

1.Core values

• What are core values?

The core values are the guiding principles that dictate behavior and action. The core values are used as a guidance to know what is right and what is wrong; they can help organizations to determine if they are on the right track in reaching their business goals and objectives.

Company’s values are from the core of the organization’s soul that guides it through its growth. These values drive the existence and stay the same during all procedures in the business company. They promote a feeling of unity and helps the company direct its productivity in one purpose. The spirit that drives the company initiative and size and helps it work through different situations and obstacles. The business core values contribute

The core purpose represents the organization’s fundamental reason for existing. A valid core purpose reflects the importance people attach to the company’s work—it taps their idealistic motivations—and gets at the deeper reasons for an organization’s existence beyond just making money.

3.Visionary goals

The visionary goals are the lofty objectives that the company 's management decides to pursue. This vision describes some milestone that the company will reach in the future and may require a decade or more to achieve. In contrast to the core ideology that the company discovers, visionary goals are selected.

These visionary goals are longer term and more challenging than strategic or tactical goals. There may be only a 50% chance of realizing the vision, but the company must believe that it can do so. These goals should be challenging enough so that people nearly gasp when they learn of them and realize the effort that will be required to reach them.

Most visionary goals fall into one of the following categories:

• Target - quantitative or qualitative goals such as a sales target.

• Common enemy - centered on overtaking a specific company.

• Role model - to become like another company in a different industry or

Clearly define the purpose of the organization and to establish realistic goals and objectives consistent with that mission in a defined time frame within the organization’s capacity for implementation.

2. Communicate those goals and objectives to the organization’s constituents.

3. Develop a sense of ownership of the plan.

4. Ensure the most effective use is made of the organization’s resources by focusing the resources on the key priorities.

5. Provide a base from which progress can be measured and establish a mechanism for informed change when needed.

6. Listen to everyone’s opinions in order to build consensus about where the organization is going.

Other reasons include that strategic planning:

7. Provides clearer focus for the organization, thereby producing more efficiency and effectiveness.

8. Bridges staff/employees and the board of directors (in the case of corporations).

9. Builds strong teams in the board and in the staff/employees (in the case of corporations).

10. Provides the glue that keeps the board members together (in the case of