What Do Values Mean and Who Are They For?

I write and speak about values. I even think and dream about values (yes, I’m strange). But just because I’m clear on what values mean, doesn’t mean everyone else is.

Recently I received the following question regarding an upcoming presentation I’m doing for a group of HR professionals:

Exactly what values are you referring to?

Good question. The term “Values” can mean different things to different people.

A reference to values can mean any or all of the following:

• Ethics and governance
• The third component of Vision-Mission-Values
• Defining expected behavior
• Setting strategic direction

While I do take these different aspects into consideration, my primary focus is on defining differentiating values that create competitive advantage. When the leaders of a company can point to 2 or 3 values that matter most to their organization – values used to hire and fire people; and that defines the brand – they are setting themselves apart from their competitors.

This then leads to another question

Exactly who are these values for and what’s expected of them?

To answer this, I like to use the C.E.O.S. model outlined by Ken Blanchard in his book Managing by Values:

• Customers – values are used to set the expected brand experience
• Employees – values are used to set expected behavior
• Owners – values are used to set the expected ROI and impact on the community
• Significant Others – values are used to set expected support from suppliers, families of employees, and other interested parties.

In other words, values apply to everyone and every aspect of a business. While that might seem like a tall order, it’s the recipe for success that can turn a good company into a great company.

 

What do values mean to you?