Values Driving Value
I think that the new old word is “values.” I just read Joe Nocera’s column from yesterday in The New York Times. Nocera was quoting what he anticipates Starbucks‘ CEO Howard Schultz as saying next week at his annual shareholder meeting, “The value of your company is driven by your company’s values.” There you have it. That’s the defining word of this decade. In this fast moving decade, I am growing convinced that character, values and ethical conduct are going to make and break reputations. And I think that social media is going to act as the arbiter and meter that keeps company behavior on track. Social media will keep companies honest because the downside is so great. Just this week, Ethisphere released the 2012 most ethical companies in the world. They say that their applications for this award have increased since its inception six years ago. I am not surprised considering how important it is for business and reputation.