Value System - Corporate Value Systems

Corporate Value Systems

Fred Wenstøp and Arild Myrmel have proposed a structure for corporate value systems that consists of three value categories. These are considered complementary and juxtaposed on the same level if illustrated graphically on for instance an organization’s web page. The first value category is Core Values, which prescribe the attitude and character of an organization, and are often found in sections on Code of conduct on its web page. The philosophical antecedents of these values are Virtue ethics, which is often attributed to Aristotle. Protected Values are protected through rules, standards and certifications. They are often concerned with areas such as health, environment and safety. The third category, Created Values, is the values that stakeholders, including the shareholders expect in return for their contributions to the firm. These values are subject to trade-off by decision-makers or bargaining processes. This process is explained further in Stakeholder theory.

Read more about this topic:  Value System

Famous quotes containing the words corporate and/or systems:

    The generation of women before us who rushed to fill the corporate ranks altered our expectations of what working motherhood could be, tempered our ambition, and exploded the supermom myth many of us held dear.
    Melinda M. Marshall (20th century)

    We have done scant justice to the reasonableness of cannibalism. There are in fact so many and such excellent motives possible to it that mankind has never been able to fit all of them into one universal scheme, and has accordingly contrived various diverse and contradictory systems the better to display its virtues.
    Ruth Benedict (1887–1948)