Core values are the guiding principles that can help define how the company should behave in business, and even beyond, if they have an additional mission to serve the community. In many cases — though not required — core values are usually expressed in the corporation's mission statement.
Some examples of core values for a company include:
A commitment to innovation and excellence. Apple Computer is perhaps best known for having a commitment to innovation as a core value. This is embodied by their "Think Different" motto.
A commitment to doing good for the whole. Google, for example, believes in making a great search engine and building a great company without being evil.
A commitment to helping those less fortunate. TOMS shoe company gives away a pair of shoes to a needy person for every pair it sells in an effort to alleviate poverty and make life better for others.
A commitment to building strong communities. Shell oil company donates millions of dollars to the University of Texas to improve student education and to match employee charitable donations.
If you’re stumped about what core values you’d like to adopt for your company, here’s a link to a list of 190 of them from some of the top countries in the world.
Important: Every hire you make, every management decision you lay down and every person you let go from your company must all be done with your core values in mind. There’s no wiggle room here. It’s crucial to the current success of our business as well as to the long-term sustainability of your organization on the whole.
“Culture eats strategy for breakfast” - Peter Drucker
According to Investopedia, “Corporate culture refers to the beliefs and behaviors that determine how a company's employees and management interact and handle outside business transactions.”
As you look at your business and its culture, do you see that you’ve established a culture where the people on your team want to be there, where they want to — and enjoy working with — the other people on your team, where the customers and their wants, needs and desires come before everything else.