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Your Value Statement:

Develop a Definition of Values in Your Business

A value statement needs to be part of your business HR strategic planning process. Your definition of values (including values, morals, ethics and integrity) needs to be the heart of your strategy, your business culture and your hiring and management policies.

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Value statements are intended to provide the organization with a structure or a foundation from which the business will operate.

Business values or culture guide you in managing your business and they also provide a framework for key stakeholders (your employees, your customers, and your suppliers).

Build a statement that reflects values you support and stay focused on the type of corporate culture you want in your business when writing business plans.

Develop your statement through the Human Resources (HR) Strategic Planning Process. Including the statement as part of your simple business plan outline will help you keep your values in focus, and in the plan.

Ensure that your small business management is aligned with your company's values, as well as your mission and vision statements.

vision, mission, values

For example, when decisions need to be made make sure that you make those decisions in the context of your values. If you need to reduce spending do you lay-off staff or do you cut in other areas first? If you need to choose between one supplier and another (and price and quality is equal) do you select the supplier that has values similar to yours?

Communicate your values from the front office to the back office of your organization. All of your employees need to understand what your company stands for and how your values relate to your business. It's a good idea to post your vision, mission and values statements where all your employees, and even other stakeholders, can see them.

Business owners who understand what they value, also understand the positive impact their statements will have on decision making, effective problem solving, managing change, resolving conflict, and leadership.

A value statement for your business environment might read as follows:

We will:

  • Conduct our business with integrity;

  • Strive for excellence in all we do;

  • Embrace continuous improvement;

  • Treat all stakeholders with dignity and respect;

  • Allow our customers to define quality;

  • Display reliability and consistency by delivering what we promised, when we promised;

  • Commit to a learning culture.

Whatever values you define important (and the above list is just a sampling of what you might value), needs to be included in your statement.

strategy and values

But don't make it a long 'shopping list' of items that sound good but you will never act on.

Keep your focus on what you believe in and what you want your employees to commit to.

And make sure that your values are in alignment with your vision statement.

Your statement should become part of your Strategic Plan to ensure that you build those values into how you plan to operate your business.

This statement is your business' commitment to operating with honesty, values, morals, ethics, integrity and your commitment to social and environmental concerns.

Make your statement meaningful to you and your business. And then make sure you consistently operate your business in alignment with those values.

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The Importance of Strategy

Why is strategizing important to your business?

Because it enables you to more clearly understand what you need to do to more your operation in the direction you need, and want, to go.

Doing a thorough analysis and review will enable you to implement more effective strategies, tactics and techniques.

Results and Strategy

strategic results

Definition of Business Model: It's Different

The type of tactical planning you complete as you strategize is important because it forces you to make difficult choices and difficult decisions.

(Make sure you understand the definition business model - the practices, and focus, of the business on delivering the value proposition - to engage in a strong and successful strategic planning process).

Also write down your choices and decisions to plan the actions necessary to move forward (use samples to provide you with a model for your own action plan).

The action plan is your road map. You must ensure that you are managing the direction you take.

Once you begin this planning process you will need to ensure that the plan you develop is do-able; make sure you include effectiveness measures in your plan.

And remember that your plan for strategy in business needs to be reviewed on a regular basis and be adapted as market and economic conditions change.

The end goal is not the plan but rather the results therefore make sure you have measurements in place to track results.

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Tools for Strategy Planning

Start with your SWOT (strengths, weaknesses, opportunities and threats) analysis.

Add aspirations and results to the SWOT (some do SOAR (strengths, opportunities, aspirations, and results) as a separate activity) to ensure that your vision for your business is incorporated in your goals and objectives.

Conduct a market opportunity analysis and look for unmet needs that align with your objectives.

Doing a thorough analysis and review will enable you to implement more effective strategies, tactics and techniques.