SEOUL, May 27 (Korea Bizwire) – For the sustainable growth in business, what’s needed most is the management of values centered on people, a business guru urged.
Junn Sung-chull, CEO of the Institute of Global Management (IGM), stressed the values of management in his speech titled “Values management inspiring the wave of creation” at a recently held Ulsan Economy Forum sponsored by the Ulsan Chamber of Commerce.
Junn of the Korea’s most recognized management research and executive education organization said, “The values management sets up the ‘thoughts’ of employees. Although most enterprises place the slogans on the wall in the name of visions, these are in most cases just gestures.”
Taking Tirebank and SMRT, Singapore’s state-owned railway company, as examples, Junn said, “The successful businesses have actionable visions without exception. Their visions not only affect the daily lives of the employees and every decision-making process but play core roles in making employees strive to achieve their goals.”
“Everyone has values in one way or another. It’s just that most people don’t conceptualize the values. CEOs need to conceptualize and clarify their values and lead their employees to put the values into practice by making them recognize the values and feel the same way, not by just reiterating the slogans,” he added.
He also said, “The values management can reduce the cost of time and resources as it follows the path of consistent and clear standards. As the values are made together with the employees, the values add new meanings to all the constituents and make them work on their own volition. Consequently, the values management can improve the overall organizational performance.”
As for the seven commandments for the business with living values, Junn picked the conceptualization of values that all the constituents dream and want together, values with logical validity and understanding, emphasis on the values at least for 700 times, praise and reprehension based on the values, review whether main decisions correspond with values, research on strategy, customs, systems fitting with the values and business management centered on people.
Written by John Choi (email@example.com)