Project Status: Planning Date: 1/05/2013
Proposer : Admin
Sponsor(s): POSE Ltd
Many corporations have value statements or ethics that they list on their websites and in their corporate literature. Some of these firms are doing well incorporating their values into their working practices. Other companies’ principals fade into the background when profits are at stake. Analysis of the 2008 economic crisis highlights many complex and varied issues. While the list of contributing issues may be long, suspect business practices and lack of integrity are clearly key factors. If all corporations where living up to their stated values could this have happened? In order to live corporate values more successfully and to reduce the risk of another global economic disaster, four areas need to be addressed:
- What corporate values best support a thriving business and wider economy?
- What corporate environment is required to support the stated values so that employees can live those values?
- What do the stated values look like in practise and how can we measure their practical outcomes?
- What can be done to incentivize corporations to adopt a useful set of values and then live those values?
- What are the benefits of living corporate values to the company itself and how can they be measured?
Living corporate values proposal is about working with corporations to:
- Answer the questions above.
- Share findings.
- Developing a plan for effective incentives to encourage living corporate values.
- A framework to analyse success and the rewards from that success (ie increased profits, staff retention etc).
- Develop a customised set of corporate values for partner corporations.