What is Core Value and Why is it important?
Core values are the things that you and your company believe in, this is important especially on the way you work. It also should determine your priorities and the priorities of your company. Most importantly this supports the vision of your company and it helps in shaping the company’s culture, principles, beliefs, and philosophies. Many companies make mistakes in focusing more on their technical competencies but often forgets the underlying competencies that make their companies run smoothly. Establishing strong core values that provide both internal and external advantages to the company.
It’s challenging to identify and understand your company’s core values but this is important. Your company’s values are a central part of the company- and it conveys where you want to go and how will you get there. The core value can become your guide in making the best choice in any situation.
Some business and life decisions are really about determining what you or your company value most. When many options seem reasonable, it’s helpful and comforting to rely on your values – and use them as a strong guiding force to point you in the right direction.
Value-based choices may not always be easy. However, making a choice that you know is right is a lot less difficult in the long run. When you empower your employees to make decisions, the best way is to have them base their decision on the core values of your company.
How can you determine your core values?
Always remember to not just copy another company’s core values unless you have examined them very closely and know that they will fit. Develop your own core value, after you have developed the list ask yourself these following questions:
- Do these values make you feel good about yourself and your company?
- Are you proud of your top three values?
- Would you be comfortable and proud to publish these values?
- Do these values represent the things you would support, even if your choice isn’t popular?
For Design Source Media these are our core values:
Finally, always remember to regularly reaffirm your company’s core values to your employees or post them on the wall in your office where they will serve as a reminder to them. That’s what we do, every 1on1 meetings we check if the team are able to practice the core values and if not we asses together on what went wrong and how we can deal with it. Solid core values will reinforce your business relationships and help employees and management conduct their business in a fair and ethical manner.