Structuring organizational value statements

Abstract

PurposeThe purpose is to propose a structure for corporate value statements, which is useful as an underlying organizing principle that makes them more comprehensible, and at the same time identifies values that can serve as criteria for strategic decision‐making.Design/methodology/approachThe main approach is theoretical development of value categories. It is followed up by an empirical investigation of value statements on corporate web pages to see if the proposed principles are applicable.FindingsThe paper proposes a comprehensive value system that consists of three main value categories juxtaposed on the same level: Core values prescribe the attitude and character of the organization. They are often found in sections on code of conduct, values statement, or credo. Protected values are protected through rules, standards and certificates. They are mostly found in sections concerning health, environment and safety. Created values are the values that stakeholders, including the shareholders, expect in return for their contributions to the firm. They are often found in sections on objectives and always in the annual report.Research limitations/implicationsThe empirical research is limited to companies listed on two stock exchanges. Further research should include other types of organizations.Practical implicationsIt is hoped that the proposed value system can contribute to making corporate value statements more comprehensible and useful for strategic decision‐making.Originality/valueIt is believed to be a new idea to propose a holistic value system for value communication that can incorporate all values.