Standards Vs Values -Why Both Matter-Part 1- Introduction
Running a business is not easy, and sustaining it
for years is a hardship. The world has witnessed companies that started in the
backyard of a house become household brands, like Amazon. The world has
witnessed global giants like Lehman Brothers falling like a pack of cards.
During my interactions with a few of my friends, one of the important topics we
dwelt upon was standards, how standards play a key role in shaping an
organisation, and how they increase the competencies of the people.
We would have come across this famous
quote-"Best or nothing"-by Mercedes-Benz, which is a classic example
of the standards they set for delivering the highest-quality cars. Imagine the
kind of processes, checks, and competency enhancement that would have occurred
at Benz to live up to its standards; those companies that live up to their
standards are likely to stay in business for many generations.
However, while setting standards, there can be
confusion between standards and values. Before setting standards for your
business, let us understand the difference between standards and values.
M.L.Narendra Kumar
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