Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested. Some companies embed values directly into their mission statements, while others develop a separate list of corporate values to bundle with their vision and mission statements. Values are also an increasingly important component of organizations’ business ethics and corporate social responsibility initiatives.
The Starbucks mission statement describes six guiding principles that, as you can see, also communicate the organization’s values:1Retrieved October 27, 2008, from http://www.starbucks.com/aboutus.
- Provide a great work environment and treat each other with respect and dignity.
- Embrace diversity as an essential component in the way we do business.
- Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee.
- Develop enthusiastically satisfied customers all of the time.
- Contribute positively to our communities and our environment.
- Recognize that profitability is essential to our future success.
Similarly, Toyota declares its global corporate principles to be:2Retrieved October 27, 2008, from http://www.toyota.co.jp/en/vision/philosophy.
- Honor the language and spirit of the law of every nation and undertake open and fair corporate activities to be a good corporate citizen of the world.
- Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in the communities.
- Dedicate ourselves to providing clean and safe products and to enhancing the quality of life everywhere through all our activities.
- Create and develop advanced technologies and provide outstanding products and services that fulfill the needs of customers worldwide.
- Foster a corporate culture that enhances individual creativity and teamwork value, while honoring mutual trust and respect between labor and management.
- Pursue growth in harmony with the global community through innovative management.
- Work with business partners in research and creation to achieve stable, long-term growth and mutual benefits, while keeping ourselves open to new partnerships.
Management 2020 text remixed from multiple sources under a CC Attribution-NonCommercial-ShareAlike 4.0 International License. View a complete list of original sources.