por The institutional values of the administration They are those principles, ideas and beliefs that express what a company appreciates, in addition to supporting the mission and giving a profile to the organizational culture.
Many companies are mainly oriented towards technical attributes, often forgetting what are the underlying capabilities that make them run smoothly, which are institutional values. Establishing strong values provides the company with internal and external advantages.
In the modern era of administration, terms such as institutional values, culture and mission statements are regularly heard, which have been integrated into business language among many other terms.
A company needs to have a system or pattern of values that helps it to operate ethically and to be able to satisfy the requirements of the environment in which it operates. Every modern organization should seek to have institutional values, because by obtaining them they will incur directly in their improvement.
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What are institutional values for?
Just as each individual has their own values, companies implement criteria to give meaning to the way of working and identifying with their environment. It also makes them universal by transmitting them to those who make up the organization and relate to it.
For the organizational culture of a company, the institutional values are the platform of the motivations, attitudes and expectations of the workers. They are the main foundation on which their actions are based.
The values are not adjustable nor are they elements that define an industry. The same institutional values as competitors can be maintained, as long as they are authentic to the company and its employees.
If it is decided to invest resources and time in this work, the result will be the establishment of a strong organization, where its members can achieve the objectives in a more satisfactory and efficient way, feeling motivated and united by being part of it.
Decision support
The institutional values of the administration are useful in the decision-making process. For example, if one of your values is to support product quality, any product that does not meet a satisfactory quality standard will be automatically removed.
illustrate to customers
They enlighten both current and potential customers about what the company is all about, thus clarifying their real identity. Being able to have a specific set of values to display to the public is definitely a competitive advantage.
Tool for employees
On the other hand, institutional values are becoming important tools for recruiting and retaining workers.
With today’s ease of researching companies, job seekers can do the homework of finding out what identifies different companies, weighing up whether or not they hold the values they find important.
Importance
The institutional values of the administration are the most important issues that are put into consideration to regulate the conduct of workers in order to fulfill the commitments of the organization.
Companies are increasingly aware of the importance of promoting and deciding their institutional values, in addition to the impact that this generates in the internal and social sphere.
These values are not only influential in work environment contexts, but are also decisive in areas as diverse as the creation of services for clients, competitiveness strategies, innovation processes, investment decisions or work relationships.
company commitment
It must be emphasized that the institutional values of the administration allow the company to have its own personality within the market in which it operates. These values make up the organization’s commitment to its consumers, its investors and its environment.
The challenge for companies is to understand that when they refer to institutional values, the way in which they will act will be much more important than what they can say and think.
However, for the institutional values to make sense in human work teams, it is essential that the members share what these proposed values mean.
The values must have a practical meaning so that they do not become just good intentions posted in a frame on the wall, but that their content has a clear practical benefit for all members.
To achieve this, all the members must know them, they must agree with their meaning, understand the actions that they imply and agree to put them into practice.
Examples of Institutional Values
Responsibility
Assume and acknowledge responsibility for actions, policies, decisions, and products. It can be applied both to the liability of the company as a whole and to the individual liability of the workers.
Commitment
Commit to making excellent products, services and other initiatives that impact life both inside and outside the company.
Balance
Seek to adopt a proactive position in order to create and maintain a healthy balance between the work and personal lives of workers.
empowerment
Encourage employees to take initiative and do their best. Promote an environment that understands mistakes in order to empower employees to lead and make decisions.
Diversity
Respect diversity and give the best possible of that composition. An employee fairness program should be established, ensuring that internal processes are open, barrier-free and unhindered
Innovation
Pursue new creative ideas that have the potential to change the world. Foster an environment that rewards risk-taking and creativity on the part of employees, responding to opportunities to improve all aspects of the company for the public good.
Excellence
Aspire that products and services have a level of excellence that is recognized both nationally and internationally, characterized by high quality standards.
Integrity
Act with honor without compromising the truth. Adopt the values of fairness, honesty and respect when carrying out all professional activities, as a fundamental means of serving others.
Security
Guarantee the safety and hygiene of workers, going beyond legal requirements in order to provide an accident-free workplace.
Opening
Promote and facilitate a work environment in which information is widely shared, decision-making processes are respected and understood, broad participation is promoted, and feedback is valued.
References
Administration (2010). Institutional Values of the Company. Taken from: citlali-solis.blogspot.com.
Trade and Justice (2015). The importance of values in organizations. Taken from: comercioyjusticia.info.
Wendy Pat Fong (2013). Company Core Values: Why to Have Them and How to Define Them. The official 7Geese blog. Taken from: 7geese.com.
Western University (2020). Institutional principles and values. Taken from: president.uwo.ca.
Lumen Learning (2020). Mission, Vision, and Values. Taken from: courses.lumenlearning.com.