I have been interested in listening to the news over the last couple of days about the crash of Lehman Brothers’ and the role it played as the catalyst of our current economic situation.
Additionally, this week, Gordon Brown and Barack Obama have spoken out about the governance of banks and in particular the payment of bonuses. It is clear that businesses have been driven by measures of financial performance almost in isolation.
Have we really learned from our mistakes?
We are working with an organisation who have taken what I believe to be a very enlightened approach. They are stepping back to understand their values. They are defining what they as a business stand for and how this translates into their every day work including their interaction with staff, customers and suppliers.
It is a big investment of time and money and requires a strong commitment from the leadership team. That investment and commitment is fuelled by the very strong belief that consumers are much more discerning than they ever have been about the ethical standards of businesses. This company see their values as becoming a differentiator and as a consequence will lead to improved profitability.
What do you think? Are values based businesses the way forward?
