5 October 2020

Business values, the key to success

business values

Table of contents

Business values are one of the signs of identity that differentiate companies from one another. Nowadays, you can find a multitude of companies that, in one way or another, offer a similar product-service. Therefore, consumers will opt for those that offer them something more. A plus that other brands do not offer. This is where corporate values make the difference. 

Business values: why are they the key to success?

If we analyse the supply of products and services offered by the large multinational companies, In the same way, the quality of the offer, as well as the customer service and after-sales services are the same or very similar. Globalisation, access to information technology and cheaper marketing and sales systems have meant that the corporate offer of products and services has also become globalised. As a result, the product-service we offer may not be enough to differentiate us from our competitors. 

So how can we attract new customers And to build the loyalty of the old ones? By offering them “something more”, an intangible plus that is unique and exclusive to our company. This plus has a name and a surname: business values.

What are corporate values?

Reaching and convincing our customers on quality or price is not as easy as it used to be. But it is easy to attract a huge consumer group who miss the corporate humanisation. These customers demand and buy those products and services offered by companies with specific values. In other words, they are committed to a certain ethic, a business culture and a “know-how” that identifies them and differentiates them from their competitors.

We are talking about something as simple and complex at the same time as professional ethics, respect for workers, awareness of certain social issues and commitment to the environment. Among many others. 

Personal values that must be incorporated into the company's philosophy and culture in order to make it something different, to bring to the organisation that differentiating factor to make it to stand out from the competition.

Some essential business values for success

In the preceding lines, we have pointed out various business values that are already part of the corporate culture of outstanding companies. Values that the transformational leaders have been able to incorporate the Corporate DNA and convey to its customer market as values of distinction, quality and success.

As is logical, the sector in which each company operates usually has an important influence on the business values of each company. However, beyond sectors, there are some business values that cannot be missing in the identity of any company today that aspires to be a benchmark of success. Some of the most important are the following. 

Self-criticism

Nowadays companies cannot be conceived solely as money-making machines. Companies aim to make profits, of course. But they are also seen as an agent of the societies in which they operate. This is why successful companies they should not be shy about self-criticism. It is necessary in order to be able to improve and offer a quality product-service to its customers, who are ultimately the heart of any economic activity. 

Respect for the worker

Another of today's most important business values is respect for the employee. Along the same lines as self-criticism, when it comes to understanding any company as a an institution that goes beyond “making money”.”, Today's successful companies seek to “take care of the employee”. The worker is the very soul of the company, so respecting him or her means respecting the company as a whole. In this sense, to implement certain social benefits, such as Ticket Restaurant, Transport Ticket o Childcare Ticket, The measures, among many others, are measures that aim to improve the working conditions of workers and that achieve better working conditions for them. work motivation

Commitment to equality

Regardless of the sector in which the company is active, a commitment to equality is one of the most important today's essential business values. In this sense, implementing measures that support equality between men and women, as well as other equality proposals within the company, are commitments that are among the corporate values of the main successful international companies.

Commitment to the environment 

The fight against climate change and the protection of the environment are two of the most important key issues in politics and economics in the 21st century. And any company that aspires to be an example of success and a benchmark in terms of business values must incorporate them into its corporate DNA. 

These are just some of the most important and common business values in most successful international companies, but there are many values that every company can incorporate into its own identity. But there are many values that every company can incorporate into its own identity. Would you like to add any of them?

Edenred Spain

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