What are core values? Meaning, principles and effective applications

Core values are an important factor for the survival and development of a business. Building a set of fundamental values will help the company survive in the long term and increase its competitive position in the market. So what exactly are core values , and how to apply them in practice? Let's find out with 1C Vietnam in the article below!

1. What are core values?

Core values are a term that refers to the separate fundamental elements of a business, including: development principles, orientation, values, beliefs, ideals, etc. Experts evaluate core values The core is the "soul" of the business, directly associated with culture, mission, vision and business orientation, thereby creating its own brand identity.

To build core values , businesses need to consider both subjective and objective factors. Specifically:

• Objective factors include employee opinions, customer needs and expectations.
• Subjective factors include the ideals of business leaders and the values that the organization wishes to convey to customers and the community.

1.1 For humans

A person's core values include the virtues, principles and perspectives that a person wants to express through their actions and decisions in life. These are fundamental aspects of morality and personal identity and shape how each person interacts with the world around them.

Core human values include: Respect, honesty, self-discipline, empathy, learning, creativity, responsibility, tolerance. These values not only affect personal life but also contribute to creating a better society and building better quality relationships. Humanistic core values will promote the sustainable development of the entire society.

1.2 For employees

Core values for employees at work are the principles, behaviors and virtues that each member of the organization will value. These are factors that contribute to shaping the culture of the organization as well as contributing to the success and development of the business.

Core values of employees include: Professionalism, dedication, cooperation, creativity, learning, self-motivation, respect, advancement, positivity. These values help create a team of strong, quality employees who make valuable contributions to the success of the organization.

1.3 For businesses

Core values in a business are the essential principles and principles that an organization adheres to and promotes in the company's field of operation. This is the key point that shapes corporate culture as well as the deciding factor in choosing employees to work for the organization. Core values are usually not affected by the business environment and do not change over time. Besides, core values also play an important role in deciding the long-term development strategy of a business.

The core values of the business include: quality, dedication to customers, transparency, creativity, social responsibility, and management vision. These values will be expressed in practice through the enterprise's business activities such as building trust with customers, creating a positive image for the community, and attracting good talents.

2. Meaning of core values - foundation for sustainable business development

Core values are the key factor that determines whether a business can operate and develop sustainably or not. This is an important factor that carries great significance for the organization, specifically:

2.1 Attract and retain talented people for businesses

By building solid core values , businesses will increase their reputation, build a sustainable brand and attract more talents to the organization.

2.2 Uniform communication messages

When a business clearly identifies its core values and all employees understand them, marketing and communication messages will be more consistent. From there, the business image will also be more trustworthy and reputable.

For example, if the core value of the business is "Dedication to customers", communication strategies will be designed to best meet customer needs. At the same time, businesses will also focus on conveying devotion to customers through advertising messages and content of Marketing campaigns.

2.3 Connecting staff

Correct, clear core values will help employees understand the desired direction of the business, create solid trust as well as bring a sense of security to the entire staff team. From there, businesses can promote and increase employee motivation, improve quality, productivity as well as create a positive working environment.

2.4 Help employees behave properly

With clear core values , employees will clearly understand that they are contributing to the development of the business. Especially in today's volatile social environment, employees' belief in the core values of the enterprise as stated is an important factor in promoting the sustainable development of the entire organization.

2.5 Guideline for businesses

Core values are always the guideline for all activities and business strategies of an enterprise. This is also the foundation for building business ethics. When this value is clearly communicated, employees will have a correct awareness of their position and responsibilities in the organization. From there, the business will operate in accordance with the mission and vision set out.

3. Core principles when building core values

To build a set of quality core values , businesses need to pay attention to the following principles:

• Respect the proposed cultural values: Cultural values in businesses often come from the leadership team. If core values are not truly consistent with this culture, it can cause conflicts and conflicts within the business.
• Set clear goals: Along with building a set of core values , businesses need to set specific goals. These two elements will accompany, complement and complete each other to help the organization grow strongly.
• Building a positive working environment: If businesses can build a healthy, friendly, and open working environment, it will create cohesion and consensus to join hands in building core values between employees. HR machine.
• Short, easy to grasp, easy to understand: Core values will stick with the business throughout its operation as well as be a message for many generations of employees. That's why core values need to be concise and easy to convey so that people can remember.
• Stay up to date with reality: With the current rapid market fluctuations, the production and business conditions of businesses may also change. Therefore, these core values also need to adapt to the actual situation. Periodically re-evaluating the value set is necessary, but changes also need to be carefully considered so as not to lose the corporate identity.

4. The relationship between core values, vision and mission

Besides core values , vision and mission are also concepts mentioned in determining the business's development goals and strategies. So what is the relationship between these factors? Let's find out with 1C Vietnam now!

• Core values and vision: Core values shape the direction of the vision, as well as the decision about whether or not to pursue that vision. Meanwhile, vision reflects the lofty goals of the organization built on the core values that have been set.
• Core values and mission: Core values assist in shaping the mission. Meanwhile, the mission reflects the specific goals that the organization is implementing at the present time and is built on core values.

5. Apply core values to a comprehensive business

After building a set of core values , businesses need to put them into practice in all specific aspects:

5.1 Products and services

When applying core values to product development, businesses can identify the most important factors such as creating higher value for customers. At the same time, businesses can create differences and be more unique than competitors in the market.

5.2 Advertising and communication

Core values are the most effective communication messages. Possessing quality values will help increase brand recognition and uniqueness in the eyes of customers. When communication is unified based on core values , businesses can minimize confusion between brands, while increasing customer interaction with products.

5.3 Recruitment and human resource management

Businesses that build good core values will be able to attract quality personnel as well as increase competitiveness in finding human resources. With a clear set of values, identifying suitable candidates also becomes easier. From there, the recruiting department ensures that new employees can grow and advance within the organization.

Core values are an important factor that determines development strategy as well as carry great significance for each organization and business. Hopefully through the above article, your business will have more useful knowledge and be ready to build a set of quality core values . If you have any questions, please contact 1C Vietnam for support.