What are core values?

What are core values? 5 steps to determine core values for your business

4.8/5 - (10 votes)

What are core values?? For any individual or organization who needs to locate their values, creating core values is extremely important to help individuals or organizations gain prestige and voice in society. In business, this is also a key factor determining the price and positioning of products in the market. So what are core values? Let's Johnson's Blog Find out in the following article.

What is the concept of core values?
What is the concept of core values?

What is the concept of core values?

In the modern business world, we often hear phrases like core values, mission, vision, corporate culture, ... associated with every step and all business activities of the company. To be able to see and define correctly, readers must first understand the basic concepts of these categories. 

Core values are the essential and enduring system of guiding principles that influence an organization's decisions and actions. That means even if the company's mission and plans change, the core values remain the same. This is also the belief system that affects how people behave towards others or between groups. Core values are considered "soul" and "root" in the organization, helping to form a shared mentality and create a culture. 

Not only that, core values are everything in business that cannot be measured by material values and are the basis for the unit to build its common rules. 

>>> See more: What is the SWOT model?? Effective application of SWOT in business

Components of building the core value of the business

Each company will have its own development orientation and establish specific core values associated with the company trademark for the unit. Core values of the product It is also a factor that companies need to pay attention to. It is important to stand out from the competitor other.  

Components of building the core value of the business
Components of building the core value of the business

To form a core value for the business, the organization needs to identify some of the following elements:

  • Responsibility: For actions, decisions, policies. It applies to each individual as well as to the collective as a whole.
  • Balance: Towards an ideal working environment where work and employee health can be maintained.
  • Commitment: Concerning standards of product/service quality.
  • Community: Actively contributing to society, demonstrating responsibility and ethics.
  • Empowerment: Encourage the initiative and creativity of members.
  • Innovation: The pursuit of innovative, world-changing things.

Besides defining for themselves a separate way of positioning, businesses can completely refer to famous brands such as: What are Apple's core values?, the value that microsoft brings... This will be a valuable lesson for organizations in the first steps. 

>>> See more: What is KPI?? How to build effective KPIs? 

5 steps to determine the core value of a business

Identify personnel in charge

It is extremely important to identify the person or group responsible for establishing and maintaining core values. This provides consistency in how you are held accountable and ensures core values are upheld in day-to-day business operations. Elements of an organization's core values are linked from day-to-day operations to the company's sales policy and growth plan. 

>>> See more: TOP 8 OKR software Effective goal management for businesses

Find out inside the business

Find out inside the business
Find out inside the business

The basis for forming core values are based on the company's available resources, so it is paramount to identify the elements that the company has. Businesses can refer model 5m with components: Material - Machine - Man - Method - Measurement. 

>>> See more: Maslow's Hierarchy of Needs what? Analyze the 5 levels of Maslow's hierarchy of needs?

Analyze business resources

Depending on the company, what they consider important to their business is different. Therefore, the construction of core values cannot be "imitation" by any other company. 

A few important questions need to be answered at this stage:

  • What drives the business in the market?
  • What do we want our company to be known for?
  • The difference of the business compared to competitor?
  • What motivates employees to join the organization?

>>> See also: The role of vision and mission for businesses today

Remove inappropriate values

To refine the list important corporate values, administrators must go through a “retain, discard, and combine” process to select from 10 to 15 optional characteristics that are truly important to the organization. 

>>> See more: Business strategy consulting - The key to success

Check and make the final decision

Check and make the final decision
Check and make the final decision

To create The company's complete set of core values, the manager must make it to the final stage by reviewing the list of 10-15 options above to choose the 5 - 10 most important values for your company. Typically, a company has 3-7 core values that are aligned and represent the team. 

>>> See more: Business strategy what? Effective business strategies 


Here is an article about core values but Johnson's Blog bring to readers. To continue to follow useful management articles in the future, please follow us regularly!


Johnson Vu – Deputy General Director of Viindoo Technology Joint Stock Company

  • Address:
    • Headquarters: 6th floor, Taiyo Building, 97 Bach Dang, Ha Ly, Hong Bang, Hai Phong, Vietnam.
    • The Hanoi branch: 8th floor, CIC Building, 219 Trung Kinh, Cau Giay, Hanoi, Vietnam.
  • Phone: + 84.225.730.9838
  • Website: https://johnsonvu.com

Leave a Comment

Your email address will not be published. Required fields are marked *