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Ethics Inventory Assessment

In: Business and Management

Submitted By mvl535
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Building a Vision-Guided, Values-Driven Organization
By Richard Barrett PART I: WHY VALUES ARE IMPORTANT
Organizational values are more important today than at any other time in history because the personal and societal context within which business operates is changing. Who you are as an organization, and what you stand for, are becoming just as important as what you sell. The values that an organization lives by are important to a variety of stakeholders: • Society: Organizational values need to meet society’s expectations with regard to environmental stewardship and social responsibility. Failure to support society’s values can have a very significant impact on financial performance.1 Shareholders: Organizational values need to meet the needs of the new breed of shareholders that are only investing in companies that: (a) meet socially responsible investment criteria; and (b) compete to be the best companies to work for, or other quality awards. Potential employees: To attract the best people, the organizational values need to meet the needs of potential new employees who are choosing to work in organizational cultures that align with their personal values. Existing employees: To retain the best people, the organizational values also need to meet the needs of existing employees and support them in finding personal fulfillment at work.







Employee Fulfillment Whilst attention to all stakeholders needs are important, the most critical are: (a) How existing employees feel about their organization, and (b) The ability of the organization to attract the best employees. Both these issues can be addressed by building a vision-guided, values-driven corporate culture that focuses on employee fulfillment. Research shows that: • • Corporate performance, including financial success is strongly correlated with employee fulfillment – 39% of the variability in

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