How Many Core Values Should a Company Have?

By Willard Hanson Posted 10/07/2020 in BUSINESS

The term “core values” has come into common use in today’s business world and it is a valuable concept for every business. Core values are the central principles, beliefs, or philosophies that shape a company’s actions, guide decision-making, and create its culture. They help an organization work effectively as a team towards common goals. They are not a rambling list of virtues but should represent a company’s highest principles and most important driving forces. As Tony Hsieh, entrepreneur and CEO of Zappos said, “Your personal core values define who you are, and a company’s core values ultimately define the company’s character and brand. For individuals, character is destiny. For organizations, culture is destiny.”

Why it is Important to Define Core Values?

It might be said that core values act as a “guiding light” for an organization regarding what things are most important and how the organization should act. Core values help companies: