Posted 01-28-2011 6:02 pm by
A value is a mission, a belief, or a philosophy that is really meaningful to a company. An example of a business value is customer satisfaction. Another example of a value is being truthful and ethical.
An example of a business value is customer satisfaction. Another example of a value is being truthful and ethical. Every company has one or more values, whether they are consciously aware of it or not. Another way of saying it is that a value is a statement of the company’s intention and commitment to achieve a high level of performance on a specific qualitative factor.In many recent business management books and journals, adopting, developing, and implementing values has been identified as the single key in the success of many high growth, high profit companies.
A passion for a value and its implementation into the daily activities of work was identified by many as the single key to their business success.When defining a value for your company, it’s a great idea to try to describe it in detail. For example, a company may adopt the value “Customer Delight.” That’s the value’s name. The description for the value could be something like: “We recognize that in today’s highly competitive market providing excellent service is not sufficient to satisfy customers and ensure their loyalty. Our goal is to convert the customer’s interaction with our company into a thoroughly and unforgettably enjoyable experience. The positive emotional response and joy that the customer feels from interaction with the company’s people, products and services should be a goal for all companies. The most successful businesses have discovered a formula that goes beyond product and service. Their business is providing delight to their customers by understanding their specific personal interests, anticipating their needs, exceeding their expectations, and making every moment and aspect of the relationship a pleasant experience.Most often, the chief desire and ability of a company is to improve the lot of the employees working for it. Businesses are most successful when the leaders are not merely concerned with their interests (success, sales, profits), but with the concerns of the customers, and even more so to their own employees. Total concern for employees brings the business to a state of unity, which can attract infinite accomplishment.The commitment of the company to focus on the social needs and aspirations of the society. Their greatest growth occurs at moments when companies align the development of these internal engines with the explosive emergence of new forces in society. Companies that can attune their business strategies to reflect the evolutionary changes of society in several of their growth engines (products, services, market, finance and people) catch the growing swell of the wave of social advancement. By synchronizing waves of this energy, they are catapulted forward and upward to levels ten times more.To completely implement and institutionalize a value in a company the following steps need to happen:Selection – Choose the values that you are interested in implementing in your company.Commitment – There needs to be a definite commitment to implement the chosen values. Management and other employees need to fully commit to those values; commit to improving performance of those values.Standards – A set of standards for each activity in the company needs to be implemented for every value.Structure – The company needs to have the right structure (of divisions, job positions, departments, etc.) to implement values.Activities, Jobs and Systems – The company has to have clearly defined job positions, activities and streamlined systems to facilitate to implement the values. Values need to be incorporated into every job position, activity and every system. Standard operating procedures and individual job position tasks need to be linked to these values.Employees Responsibility – The responsibility of every person to implement each value must be clearly defined and understood (in their job description, orientation, from their manager, etc.)Skills – Everyone has to have the skills to achieve high performance on the values. Every person should have the skills they need to fulfill their responsibilities for the values. If necessary, additional training should be implemented to upgrade the skills for value implementation. If you are thinking of selling your business, taking heed of all of the above will best position you for a great sale.
AARON MULLER| ADVANTAGE COMMERCIAL BROKERS
BUSINESS BROKER, COMMERCIAL PROPERTY SPECIALIST
DIRECT: 425.766.3940
FAX: 425.882.2547
CHECK OUT MY LISTINGS AT www.acbrokersinc.com
