Monday, July 6, 2015

Company Values : Are they necessary?

Most of the companies in the Fortune 500 list are built on strong foundations and they take it upon themselves to change the world as we know it. These companies follow their values to bring about changes through innovation, commitment, technological adaptation etc. These values are more like short term goals for these behemoths. IBM, one of the founder members of the computer revolution has its own set of values which I have discussed below.

IBM's values: Dedication to every client's success, Innovation that matters, for our company and for the world and Trust and personal responsibility in all relationships. These 3 values drive the work and personal ethics of each IBM employee. Every client is important to a company and it’s the onus on its employees to show their dedication where it matters and commit to the success of the client. Innovation drives us forward, be it the advent of wheel or internet or the space program. Without innovation, we would be still stuck in the stone-age. Innovation does not have to be something out of the box. It can be even doing the everyday work in a simplified way. Lastly, it’s the accountability of a person/company towards every relation it maintains, be it personal, social, socio-economic, corporate etc. This very accountability makes IBM the go-to company for many clients.

It’s not only IBM, every company has its own set of values. Employees follow these values to define their work and make a contribution to the parent company. These values are necessary to achieve the bigger goal, the company's long term vision. For example, Coca-Cola's values (Leadership,Collaboration,Integrity,Accountability,Passion,Diversity,Quality) go hand in hand with their vision which is grouped into these categories (People,Portfolio,Partners,Planet,Profit,Productivity). Without the values, Coca-Cola will find it very hard to follow the vision with which Coca-Cola was set up.

Company visions are the superset of company values, although at any point the company values can be changed to address immediate needs of both the company and its clients. Company values are necessary in a way that, they can be changed on a need basis but they should always be in alignment of the bigger visions of the company. In an ideal world, company values should further the cause of company visions.

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