What is the corporate value of the organization?
Corporate value is the operating philosophies or principle that guides an organization’s internal conduct as well as its relationship with its customers, partners, and shareholder. A core value of an organization is usually indicated in the mission statement of the company which communicates on how it achieves to serve its key stakeholders and organization’s reason for being. A study by the consulting firm Bain and Company reports that 90% of the 500 firms surveyed issue some form of mission and vision statements. Every organization follows specific forms of values and norms and a leader has to follow all these values to lead the organization at a standard position. For instance, King’s College Hospital NHS communicates the organization’s values: Understanding you, inspiring confidence in our care, working together, always aiming higher, and making a difference in our community. That is why the managerial tools have to be set accordingly.
For Edgar Schein, a renowned author in the field of organizational culture, organizational culture is a set of basic assumptions that a group has devised, discovered or developed on learning how to deal with external adaptation problems and that have worked sufficiently well to be considered valid and taught to new members as the right way to perceive, think and feel vis-à-vis these problems. By the given definition, the leaders have to set up managerial activities knowing and following all these cultures. In the healthcare system, a business organization who is concerned for public welfare along with profit-making does not permit to include fake or poor quality products and services with a good one.
In these cases, based on the culture, values, and objectives the roles of leaders/managers vary.