Adopting a Values-Driven Corporate Culture to Create Resiliency
Today's economy serves as a reminder that there are no guarantees in business. Many companies are finding themselves struggling to stay afloat – and many are sinking.
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Today’s economy serves as a reminder that there are no guarantees in business. Many companies are finding themselves struggling to stay afloat – and many are sinking. In better economic days, a company could survive with a moderate profit margin achieved through dedicating attention to its bottom line. However, to be truly resilient through an economic downturn, a company must be based on values, not profit margins. Focusing on values increases performance levels, improves service, reduces employee variability, and supports sustainability. A values-driven culture not only helps a company’s bottom line, but also sets groundwork for establishing a powerful legacy that can have a positive social impact for generations.
Struggling companies may believe that the only way to outlast today’s economy is by having an obsessive focus on the bottom line, thus ignoring their values and creating a profit at all cost. These companies are operating within the first three levels of corporate awareness, as defined by Barrett’s Values Centre, which focus on pursuit of profit, need-based relationships, and day-to-day best practices. In times of financial stability, this might be enough for moderate success. However, for companies aiming to survive through the worst of times and thrive through the best, higher levels of corporate awareness are needed. To reach these levels, companies need a supportive, creative culture of shared values including: strategic alliances with customers and the local community; physical, emotional, mental, and spiritual employee fulfillment; environmental stewardship and sustainability; and long term perspective for improving and empowering future generations.
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