For any organization with aspirations to outperform both the markets and competitors, values should not only form the very foundation of the organization but also be deeply embedded at the organization’s very core. There is an increasing body of research highlighting the competitive advantages enjoyed by companies that have successfully embodied their core values. At Audere Partners, we have seen this firsthand. Working with our clients across geographies and cultures, what separates the great companies from the good companies remains consistent – an organizational culture built on core values!
Organizations that have successfully built a values-based culture always start with a clear vision that supports their values, in turn, shaping the culture, reinforcing the values, attitudes, and beliefs of the people in the organization, as well as people interacting with the organization. It is this virtuous circle that separates companies that are great places to work, are more competitive, and likely deliver higher levels of performance.
There is no shortage of case studies over the past 50 years, where companies that rely on their products, commercial or operational performance solely for competitive advantage, in the long-term, often fall short. It is challenging to stay competitive and deliver continuous progress in a world where market conditions are uncertain and fluid. Where competitors are relentlessly threatening to seize market share, technology is highly dynamic with the pace of change and progress unrelenting. Customers are continuously demanding more, and employee expectations are changing. Given these and many other factors, a competitive advantage that is tough to copy is a company’s culture, which we have said, should be built around the company’s core values. A company’s culture is unique to the firm and can help mold its brand positioning, increase personnel retention rates, and serves as an inspiration to its employees.
Organizations are now more aware of the competitive advantage of strong values and robust company culture. Based on the recent Global Human Capital Trends survey, 82% of the respondents considered that the company culture is a definite competitive advantage. Companies with values-based cultures are more innovative than those without strong core values. It is fair to say, and undoubtedly true from our own experience, company culture is the primary driving force of innovation. We also find that in such organizations, empowered employees find new ways to solve problems faster and better, driving employees to work together for a common mission and with shared outcomes.
Values underpin, elaborate, and are the essence of who and what we stand for as a company at Audere Partners. They are an expression of what we are passionate about, what we strive to express, as individuals as well as a collective. They are vital elements of our identity that define who we are, our daily behavior, and help determine what we deliver at the “touchpoints” when we interact with clients.
We believe that a values-based culture will help further differentiate us in the marketplace and deliver the competitive advantage that firms like ours strive to achieve.