Company values, also known as corporate values or core values, are the fundamental beliefs upon which your business and its behavior are based. They are the guiding principles that your business uses to manage its internal affairs as well as its relationship with customers. Once set, your core values need to be firm and unwavering — a mandate rather than a suggestion. They should affect every aspect your business, from employee benefit packages and workplace culture to marketing strategies and customers service.
Keep in mind that company values should be more than stated values; they must be practiced values. If your company doesn’t follow through on the values it claims to hold, you can’t expect your hypocrisy to go unnoticed — or unanswered — by consumers. Employees, likewise, will notice if your company isn’t living up to its values statement, which can damage morale.