Corporate values are the principles that govern the private conduct of an organization as well as its relationship with partners, shareholders, and customers. They are usually compiled in the companys statement of the core values or the mission statement. The values dictate the behavior and action, and they help the company to know whether it is on the right track or not and if its fulfilling its business goals. On the other hand, the practice of allowing change to happen in an organization by explaining the needs and recommending solutions to the stakeholders to deliver value is known as business analysis (Paul, Cadle and Yeates, 11). It is imperative to note that having the corporate values do not do anything. The values must be put into action in the group to ensure that any required change in the company has been achieved. For the company The corporate values help the company to make a change in decision making. An example is when a corporations core value is in producing high-quality goods then they must ensure that the goods produced are reaching the satisfactory standards to avoid automatic elimination. This ensures that the companys decisions have been made on what activities are to focus on more and which ones yield the highest impact. One should also consider the task that is most relevant to the stakeholders. The stakeholders opinion is paramount because they normally have an interest or concern in how the business is running. The first and most essential thing to know is what your stakeholders find important and the impact of that decision. To achieve this, you need techniques and processes to help in the determination. The decisions made will either benefit or cause losses for the company. When the decisions are finally made, the company must undergo new changes because new ideas have been added to the organization.
When one wants to enable change in the organization, it is imperative for the managers and the employees to communicate the reason for the change and also the processes needed to make the changes (Huang 78). If a management team wants to improve the production of goods in the workforce, they need to implement a procedure to do so. The new system implemented will need the first labor, and the management should communicate why it is important to make the changes. If the employees understand the reason for the change, they will agree to the implementation. Another core value that will help to allow a change in an organization is training. For employees to adopt a change in an organization, then they have to be well trained and educated. If the unfamiliar process is put into place, then it will be difficult to fit into their daily workflow, and so training in a situation like that is very essential. Employees may not be confident enough to ask for assistance where they do not know because they may fear to lose their jobs. Employees tend to think that if you ask something, it means that you do not know and this instills fear in them to ask for help. This will help them become familiar with the new processes to achieve the companys goal.
An essential step in managing a successful change is to monitor how the changes made in the organization are playing out (Thomsen 36). This can be achieved by looking at how the employees are performing and checking the historical data with the change implemented compared to how they were performing before. Additionally, it is the role of the management team to monitor how the overall production process is being affected by the change. If the modification has negative results, then they will go back to the fundamental process, and the management team will take a look at the new process to ensure that the change becomes successful when implemented. This explains that a company needs to have a corporate value which will govern them to make the necessary shifts in the organization.
To some people, a significant change leads to them being uncomfortable. When a drastic change occurs in the organization, the human resource team has to offer personal counseling programs which will help the affected employees Koehn 143). This corporate value of providing personal advice in the group is a great way for the employees to adapt to the new changes that have been implemented in the organization. The process of offering the counseling to the workers help them to get used to the new situation, and they even start to find ways of coping so that they can become relevant to the organization.
The corporate values show the companys character; the values tell people on how to behave and interact with each other in the organization. This reveals what is essential in the body because it strives hard for how decisions are made, how to communicate and the freedom they experience in that company. This sends good messages and is a positive driving force for the business to achieve its goal and objectives. Corporate values and business analysis is a double-edged sword, though. When its negative, corporate values and business analysis sap a little business and its workers. Most companies give their employees a sense of identity which is a way to encourage them. A business does not stand still even if there is no much change happening and when the management team decides to make changes it threatens employees identity. The employees may be worried about their new position after the changes have been made and this is very natural to feel that. Every company can be improved even if it is doing so well but the management team should always ask themselves if the proposed change is going to improve the companys ability to achieve its set goals and objectives. The problem with most businesses is that they mistake change for progress and assuming that if workers are always kept busy, then there will be high productivity which is wrong. Some employees tend to resist change which at times leads to hostility.
Organizations that have high culture may find it tough to adapt to highly volatile situations. Employees may find it easy to embrace the initial perspectives and to get less interested in learning the new alternatives of doing things in that company. It becomes very hard to replace a set of corporate values with something new when you have firmly embraced the initial ones. This makes it even hard to implement change because most organizations insist on a culture of continuous movement. Being unsatisfied with the current status quo of a company is a great drive to making changes in your business but what we all know is that there is wisdom in old age. We can say that if it is not broken then do not fix it. Another thing that may be negative about change is that it is never free. This means that change has an opportunity cost which will cost the company. When the company is adjusting to the new changes implemented there will some intangible cost incurred like customer satisfaction and morale. The management team should try and weigh if the cost of change is outweighed by the positive outcome of the modification.
Of course, what you might be asking yourself is whether having strong corporate values that grasp exploration, adaptability, and creativity as its primary values might allow the organizations enjoy their cake too. The answer is no, and the reason is that you can have it both ways. The strength of corporate values depends on the companys ability to adapt to the new changes implemented. When there is a change made in the organization, then resistance may appear often. The resistance is always from employees fear that the change may cause them their jobs, change in time used to complete the tasks or the possibility of change in work itself. Due to this effect, the companys leaders and managers should have a strategic way of implementing change which will ensure its maximum effectiveness in that organization. The central question is whether organizations can, over the long load, successfully move to and fro between the change implemented during stable and harsh times.
Huang, X. "An Analysis and Classification of Problems in Small Business". International Small Business Journal 18.1 (1999): 73-85. Web.
Koehn, Daryl. "A Role for Virtue Ethics in The Analysis Of Business Practice". Business Ethics Quarterly 5.3 (1995): 533. Web.
Paul, Debra, James Cadle, and Donald Yeates. Business Analysis. Swindon: British Informatics Society Limited, 2015. Print.
Thomsen, Steen. "Corporate Values and Corporate Governance". Corporate Governance: The international journal of business in society 4.4 (2004): 29-46. Web.
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