What Is a Value Statement?
Value statements are often referred to as "guiding principles" and can mean different things depending on who writes them. Both companies and individuals can have value statements. A value statement tells the customer and the employee where the company stands and what the company believes in.
Definition
A value statement is an expression of a company's or individual's core beliefs. Companies write the statement to identify and connect with the consumer. Additionally, the declaration allows for the company's staff to be aware of the priorities and goals of the company. For example, a company might list one of its guiding principles as "Customer service is priority one."
Significance
The value statement, along with a mission and vision statement, will form the corporate culture and climate. Guiding principles are positive statements about the core mission of the agency. They share the company's aspirations with their customers. An example is the following: "We will embrace diversity within our organization and celebrate our employees' differences."
Personal value statements depend on each individual. Priorities and values can change through the years, so a company or person's value statement can be modified depending on the needs of the person or company writing the value statement.
Example: Microsoft
Microsoft's value statement is as follows: "As a company, and as individuals, we value integrity, honesty, openness, personal excellence, constructive self-criticism, continual self-improvement, and mutual respect. We are committed to our customers and partners and have a passion for technology. We take on big challenges, and pride ourselves on seeing them through. We hold ourselves accountable to our customers, shareholders, partners, and employees by honoring our commitments, providing results, and striving for the highest quality."
Example: Starbucks
Starbucks' mission statement and guiding principles are as follows: "To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow. The following six Guiding Principles will help us measure the appropriateness of our decisions: Provide a great work environment and treat each other with respect and dignity; embrace diversity as an essential component in the way we do business; apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee; develop enthusiastically satisfied customers all of the time; contribute positively to our communities and our environment; and recognize that profitability is essential to our future success."
Summation
Value statements usually contain one of the following words: "value"; "responsibility"; "individuality"; "strive"; "recognize" or "provide." Value statements should be shared with customers and employees. If the guiding principles are of a personal nature, sharing with family and friends is appropriate.
