Market Based Management

Values and ethics are essential in the workplace. It establishes how a company is run and remains profitable. Leaders are the key to demonstrating and creating the organization’s culture, ethics and values. It has to start at the top of the organization including the Chief Executive officer, board and owners. Leaders’ internalization and manifestation of the values in how they operate have a great influence on the employees. Every organization must start with a foundation, a code of conduct, code of ethics and a statement of values ( Ferrell, O.C., John Fraedrich, and Linda Ferrell).

The organization culture as a leadership concept has been identified as one of the many components that leaders can use to grow a dynamic organization. Leadership in organizations starts the culture formation process by imposing their assumptions and expectations on their followers. Once culture is established and accepted, they become a strong leadership tool to communicate the leader 's beliefs and values to organizational members, and especially new comers. When leaders promote ethical culture, they become successful in maintaining organizational growth, the good services demanded by the society, the ability to address problems before they become disasters and consequently are competitive against rivals. The leader 's success will depend to a large extent, on his knowledge and understanding of the organizational culture. The leader who understands his organizational culture and takes it seriously is capable of predicting the outcome of his decisions in preventing any anticipated consequences. What then is organizational culture? The concept of organizational culture has been defined from many perspectives in the literature. There is no one single definition for organizational culture. The topic of organizational culture has been studied from many perspectives and disciplines, such as anthropology, sociology, organizational behavior, and organizational leadership to name a few. Deal defines organizational culture as values,

Consequently, the values are passed on from one generation or a group of people to another through imitation and communication. In academic study and education, organizational culture comes forth as one of the key issues in both organizational theory and management. In corporate life, cultural aspect is central in all aspects of organizational life. For that reason, how engineers in an organization think, feel, value and act are aided by ideas, meanings and beliefs of cultural nature.

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The values of the organization express its culture and act as guiding tenets for influencing thoughts and behaviors. Values define the character of the team. In crafting a values statement for my organization, I must consider the following: loyalty, duty, respect, selfless-service, honor, integrity, personal courage ethical behavior, relationships, success, and

Thompson, Gamble, and Strickland (2006) define a company’s values as “A company’s values are the beliefs, business principles, and practices that guide the conduct of its business, the pursuit of its strategic vision, and the behavior of company personnel” (p.19).

In order to achieve the strategic objectives of a company, it is necessary to develop a culture based on customer value so that the idea of customer value is deep in the heart of everyone in the workplace.

Understanding employee values is extremely important for management as many companies consider employee’s to be their greatest asset. To create value it is important that employees’ values are congruent with organizational values (Pohlman, 1997). Decision makers have to recognize what each employee values and determine ways in which they can be incorporated into the organization to create the most success. Once firms find employees with values congruent to the organization it is a continuous process to ensure employee, customer and the organization’s cultural value remain harmonious. With this continuous

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Culture within an organisation is a system of shared values, beliefs and norms of individuals in the organisation and how the value consensus creates a way in which people behave. The shared values have a strong influence on the individuals in the organisation and dictates how a person acts, dresses and performs in their job. A unique culture is developed and maintained by an organisation which provides guidelines and boundaries, through informal means, for the behaviour of the people within the organisation.

Management differs today than it did in the past. In the past, managers were considered “bosses” and their job mostly consisted of giving employees orders, monitoring performance and reprimanding unproductive behavior and misconduct. Many managers still manage employees in such fashion; however, some managers now tend to be more proactive and have changed managerial functions for the betterment of company operations and performance to accomplish organizational goals. Effective management for company success now entails guiding, training, supporting, motivating and coaching employees verses

The works cited help to navigate corporate values through the knowledge of cultural context. Corporate values is often time directly correlated with the influence of the corporate culture. In fact, Greg Medcraft suggests corporate culture is created through the implementation of corporate value (2016, p. 456). This research seeks to help prove the notion that corporate values, translated to principles within the organization help to build a genuine perception which can motivate employees within an organization. Ickis (2016) writes research that shows the importance of acknowledging corporate values among a shift in cultural context, specifically in South America. Recognizing that culture shapes an organization’s values prove the importance or knowing the culture within which the organization is found, which is known as relatedness. Sokhartov and Folta (2015) discuss the connection of relatedness as the drive of corporate values. More simply put, or corporation’s relation to the culture within which it operates will influence the corporates values. This is simply another way to state what Medcraft argues in his

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A company should establish a series of values as the basis for culture such as honesty, excellence, attitude, respect, and teamwork. A company that creates the right culture will have an advantage when it comes to attracting and keeping good employees.

A company 's values are the beliefs, traits, and behavioral norms that company personnel are expected to display in conducting the company 's business and pursuing its strategic vision and strategy.