A successful brand strategy always stems from strong core values . Core values are the compass that guides all business activities, from product development to customer interactions. When core values are communicated consistently and authentically, the brand will build trust and a deep connection with customers.
What are core values? The secret to building a strong corporate culture
Core values are the compass that guides all activities of a business. It is like a road map, helping businesses and employees clearly define goals, actions and decisions. Core values are not just beautiful slogans but also principles of life, deep beliefs shared by all members of the organization.
Core values and corporate culture
Building a strong corporate culture: Core values are the solid foundation for building a unique and compelling corporate culture . When core values are communicated clearly and consistently, they become the guiding principles for every employee’s actions, from top to bottom. This creates a positive work environment where everyone feels connected and shares a common goal.
Creating cohesion: Core values act as a glue that binds members of an organization together. When people share the same value system , they will easily cooperate, support each other and overcome difficulties together. Team spirit will be strengthened, creating a great combined strength for the business.
Guiding Behavior: Core values not only guide strategic decisions but also shape the behavior of individuals within the organization. They help employees understand what is expected and what is not acceptable, thereby creating a professional and effective working environment .
For example, if a company has a core value of “customer centricity,” then every decision the company makes, from product development to customer care, must be geared toward meeting customer needs and expectations.
Why are core values important?
- Create competitive advantage: Unique core values help businesses differentiate themselves from competitors and build customer loyalty.
- Attract and retain talent: People who share the same values will feel connected to the business and want to stay for the long term.
- Increased productivity: When people work towards a common goal, productivity improves significantly.
- Building a strong brand: Core values are the foundation for building a strong brand that customers trust.
Core values are the core factor that determines the success of a business. By building and maintaining a strong core value system , businesses not only create a positive working environment but also achieve sustainable success.
Core Values Guide Successful Business Strategy
Core values are not just beautiful slogans, but also the compass that guides all business activities. Like a compass at sea, core values help businesses clearly define their direction, overcome storms and reach new heights.
Strategic orientation: Core values are the guiding principle for all activities.
Core values act as a compass that guides all strategic decisions of a business. When a business has clear core values , building and implementing a business strategy becomes easier than ever. All goals, plans and activities are aligned with the core values .
- Focus on goals: Core values help businesses clearly define long-term and short-term business goals . Thanks to that, all business resources are focused on the most meaningful activities.
- Make quick decisions: When faced with difficult situations, core values will be the yardstick that helps businesses make the right and quick decisions.
- Building a strong corporate culture: Core values are the foundation for building a unified and cohesive corporate culture . When everyone in an organization shares a common set of values , they will be able to collaborate and work more effectively.
Create sustainable competitive advantage
Unique core values are the most sustainable competitive advantage of a business. While competitors constantly change and imitate, core values always remain strong and become an invaluable asset.
- Differentiation: Core values help businesses differentiate themselves from competitors, attracting customers and partners.
- Building Loyalty: Customers will feel attached to a business when they perceive consistency between the core values and the products/services the business provides.
- Strengthening your brand: Core values are the foundation for building a strong and trusted brand .
Ensuring business sustainability
Core values not only help businesses achieve short-term success but also ensure sustainable development in the future.
- Overcoming crisis: In difficult times, core values will be the compass that helps businesses overcome challenges and find new opportunities.
- In line with development trends: A business with strong core values will easily adapt to changes in the market and society.
- Creating value for the community: Core values encourage businesses to make positive contributions to the community and society.
For example, if a technology company has a core value of "innovation", then all of the company's activities are geared towards developing new products and services, meeting customer needs, and creating technological breakthroughs.
Core values are not just an abstract concept but also an effective tool to guide business strategy. When built and implemented consistently, core values will help businesses achieve sustainable success.
The challenge of building core values
Building and maintaining core values is not an easy process. Businesses will face many different challenges. This article will help you better understand those difficulties and provide effective solutions.
Difficulty in identifying core values
Identifying core values can be more difficult than you think. Here are some common challenges:
- Lack of unity: Each individual in the business may have different views on core values .
- Core values that are too general: Giving core values that are too general will not bring much meaning to the business.
- Fear of change: Some people may feel uncomfortable changing old habits and ways of doing things.
Lack of consistency in core value implementation
Once core values have been identified , the next challenge is to get everyone in the business to understand and practice them.
- Lack of clarity: Many people don't really understand what core values mean and how they relate to their work.
- Lack of commitment: Some people may not truly believe in the core values or be unwilling to change their behavior.
- Lack of support from above: If leaders do not clearly demonstrate commitment to core values , employees will have a hard time following.
Not living up to core values
Even when there is consistency in core values , businesses can still have difficulty practicing them.
- Pressure from business results: In some cases, the pressure to achieve short-term business results can cause businesses to forget their core values .
- Lack of flexibility: Core values are not rigid rules, but need to be adjusted to suit each specific situation.
- Lack of discipline: There is no system of control and evaluation to ensure that everyone adheres to core values .
Building and maintaining core values is a long-term process that requires perseverance. However, when done correctly, core values can bring huge benefits to a business.
Examples of successful businesses with clear core values
To better understand the importance of core values and how they impact business success, let's analyze some case studies of leading businesses in the world and Vietnam.
1. Case study analysis: Famous businesses and their core values.
Big businesses in the world such as Google , Apple , Amazon all build for themselves very clear and unique core values . This helps them create a difference, build customer loyalty and achieve resounding success.
- Google: Focusing on users is Google's top core value. This is demonstrated through their constant improvement of products and services to best serve the needs of users.
- Apple: Innovation, creativity and user experience are the core values that make up the Apple brand. They are always at the forefront of creating breakthrough technology products and bringing great experiences to customers.
- Amazon: Customer first is the guiding principle for all Amazon activities. They always put the interests of customers first and constantly look for ways to satisfy customers.
2. Lessons Learned: Draw lessons for your business.
From the above case studies, we can draw some important lessons:
- Core values are the foundation for success: When a business has clear core values , building and implementing a business strategy becomes easier.
- Core values need to be lived and worked: Core values are not just slogans but need to be demonstrated in every action of each individual in the business.
- Core values need to be clearly communicated: Core values need to be communicated to all employees and customers to create consensus and engagement.
3. Core values of leading Vietnamese enterprises
Vietnamese businesses have also paid great attention to building core values . Here are some examples:
- Vingroup: Customer focus , innovation , team spirit . These values help Vingroup become one of the largest multi-industry corporations in Vietnam.
- Viettel: Innovation , quality , social responsibility . Viettel constantly innovates technology to provide high quality telecommunications services and make many contributions to the community.
- FPT: Passion , creativity , team spirit . FPT is one of the leading technology enterprises in Vietnam with a young, dynamic and creative staff.
- EVN Hanoi: Customer service , quality , safety . EVN Hanoi always puts service quality first and ensures safety in the process of supplying electricity.
- Hoa Phat Group: Innovation , efficiency , sustainability . Hoa Phat is one of the largest steel manufacturing groups in Vietnam with a sustainable development strategy.
Core values play a vital role in the success of a business. Building and maintaining clear core values will help your business differentiate itself, build customer loyalty, and achieve long-term business goals.
Brand Manager Specializing in Providing Consulting Services on Core Values
Core values are the solid foundation for a brand's success. A professional Brand Manager can play a vital role in building, communicating and maintaining a business's core values .
The Role of Brand Manager in Core Values
A core value Brand Manager can take on a variety of roles, including:
- Identify core values: Help businesses identify core values that are consistent with their mission, vision and business strategy.
- Communicate core values: Create effective communication strategies to communicate core values to employees, customers and partners.
- Maintain core values: Ensure that core values are consistently practiced in all business activities.
- Evaluate effectiveness: Evaluate the effectiveness of activities related to core values and make necessary adjustments.
Why do we need a specialized Brand Manager?
A core values Brand Manager can bring many benefits to a business, including:
- Strengthening engagement: Core values help create engagement between employees, customers and partners.
- Enhanced credibility: A brand with clear core values that are consistently executed will have greater credibility in the marketplace.
- Revenue growth: Core values can help businesses attract loyal customers and increase revenue.
- Reduced risk: A brand with strong core values will be less affected by market fluctuations.
A Brand Manager who specializes in core values is a valuable asset to any business. They can help businesses build, communicate and maintain core values effectively, thereby creating long-term benefits for the brand.