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Rituals (myths, stories, and sagas) are artifacts that convey organizational history and influence member understanding of values and beliefs. Values direct individual behavior such as loyalty and customer orientation. Acceptance of stated values underlies impressions about trustworthiness and supportiveness, while also informing member behavior.
Espoused values are the organization's stated values and rules of behavior. It is how the members represent the organization both to themselves and to others. This is often expressed in official philosophies and public statements of identity. It can sometimes often be a projection for the future, of what the members hope to become.
For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.
Organizational culture reflects the values and behaviors that are commonly observed in an organization. Investigators who pursue this line of research assume that organizations can be characterized by cultural dimensions such as beliefs, values, rituals, symbols, and so forth. [ 59 ]
In management, business value is an informal term that includes all forms of value that determine the health and well-being of the firm in the long run. Business value expands concept of value of the firm beyond economic value (also known as economic profit, economic value added, and shareholder value) to include other forms of value such as employee value, customer value, supplier value ...
Business anthropology and ethnographic methods can be used to empirically explore and analyse values and values-based cultural practice within and across organisations, or for different stakeholder groups. [25] [26] Values-based business modelling activities can facilitate the exploration and elaboration of values-based business model innovation.
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