Values as the basis of corporate culture

Abstract

Methods. The results are obtained with the following methods: abstraction – in determining the essence of the concept of «corporate culture»; comparative analysis – in establishing differences between approaches to the classification of corporate values; synthesis – when forming recommendations for companies on the need to make changes to the value-based management system during the pandemic. Results. The variety of approaches to corporate culture management depending on the analysis of structural elements of the organization is revealed. It is shown that an important element is the norms and values that change and evolve over time. The analysis of approaches by various scientists (S. Schwartz, P. Cardona, K. Rey, I. Malbashich, N. Posarych, S. Dolan, S. Garcia) to their classification is carried out. These approaches have been shown to be important for a comparative analysis of the values of international companies. Based on the analysis of Fortune 100 companies, it is shown that corporate culture has «old» and «new values», which determines the differences between organizations of the twentieth century (support the culture of control) and those operating in the 21st century (characterized by the culture of learning and development). Novelty. The analysis of the analytical reports of international companies and firm practices in the pandemic found that corporate values played an integrative role for businesses. Companies have begun to make changes to their value-based management system to achieve the goals of quality, safety, sustainable development, social justice, equality and environmental awareness. Practical value. A system of measures has been proposed to achieve success in establishing the values of security, sustainable development, social justice, equality and environmental awareness. In particular, companies need to build a high level of trust in employees and consumers, which, in addition to competence, requires them to show humanity and ensure transparency by providing information both «top-down» and «bottom-up» through various channels. Owners and top management have to play a leading role in the formation and dissemination of new values.