In total, there were 32 values listed. Across industries there was no extreme difference, but when companies did differentiate themselves from the others, there was a positive impact on their performance. It is also important to change your values over time. When you keep your corporate values unchanged, the effect on your performance is weaker. Discussions and articulation of your values all enable you to reform and improve your company.
Generally speaking, the list that contains more values beats the shorter lists. However, it is obvious that simply writing down a long list of values is worthless. You want to avoid confusion, but don’t just list the bare minimum, and don’t be afraid to deal with potential inconsistencies. When comparing stability versus innovation, both can be important. Demonstrate your willingness to find effective tradeoffs.
1. Try to articulate all the things that are core to your company.
2. Differentiate your company from your competitors.
3. Update your corporate values as the organization and whole market evolve.
-jk-