I have been pondering over this question for many years and now believe that more and more companies are beginning to recognize the importance of strong corporate culture based on shared vision and values of all stakeholders (more importantly of their own employees) in achieving the bottom line.
Even though the idea of vision and values has been explored extensively by numerous academicians and business leaders, and the impact or consequences of developing effective values and vision are well documented, I am surprised to observe that many organisations fail to develop a vision and values that are lived and are resonated with everyone within an organisation.
Furthermore, in recent years, the question about increased investments in people processes has become topical and it is argued that building intellectual capital of employees based on the shared vision and value is connected to a better degree of employee’s alignment with their organisation, and hence is crucial to any organisation’s success story.
Most organizations, in response to the needs of the global competitive environment, require their managers and executives to deliver products and services that are in line with external or environmental requirements, stakeholder expectation and to be profitable while all the time working to appease a diverse community of consumers worldwide.
Many argue that the enhanced organisation’s performance can become a reality once the leader becomes a visionary leader and cultivates the strategic intent of the organizations. And for many businesses, leadership with vision as a core component is the answer or at least the most important piece of the Jigsaw puzzle.
However, in my opinion, for a vision and corporate values to have an impact on the organisation’s performance, having a visionary leader is just a starting point. The real impact should come once the corporate vision and values are fully integrated and shared among all employees of an organisation, which forms the basis of the organisation’s culture.
Similar to a shared vision, building a values-driven culture where employees find an alignment between their personal values and the organization’s values is the key to organizational success. In my opinion, employees should be included in the development process of core corporate vision and values. This will lead to improved internal communication, building a performance-enhancing corporate culture that facilitates leadership and employee’s alignment with the strategic goals of the organization and in the end the organisation’s bottom line.