What are core values and why are they so important for successful business?

Core values are the fundamental beliefs or guiding principles of a person or organization.

- yourdictionary.com

Why have core values 1

These guiding principles dictate behavior and can help people understand the difference between right and wrong.

Why have core values 2

Core values also help companies to determine if they are on the right path and achieving their goals.

Why have core values 3

Core values can dictate how working life should be lived. Guiding employees to reach their worklife objectives.

Here are three examples of core values...

Passion

Showing an intense desire or enthusiasm for something.

Positivity

The practice of being or tendency to be positive or optimistic in attitude.

Respect

A feeling of deep admiration for someone or something elicited by their abilities, qualities, or achievements.

How to choose your own core values

There are many core values, so you will need to choose the ones that are right for you. Consider the guiding principles that truly represent your organisation. For example, 'Honesty', 'Expertise' or 'Openness'. Consider how these values are reflected in your day to day business.

It can help to reflect on a time of business success (or failure!).

Perhaps you won an industry recognised award or lost a contract to one of your competitors. List the principles or values which may have contributed to that time. You may find that you won that award because of a high level of 'Collaboration' between employees or maybe lost that contract because of a lack of 'Motivation' from managers and staff.

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