Bridging the Values Gap (Audio)

How Authentic Organizations Bring Values to Life

Edward Freeman () | Ellen Auster (Author)

Bridging the Values Gap (Audio)
Bridging the Values Gap

Business has a values problem. It's not just spectacular public scandals like Enron (which, incidentally, had a great corporate values statement). Many companies fail to live up to the standards they set for themselves, alienating the public and leaving employees cynical and disengaged—resulting in lower productivity, less innovation, and sometimes outright corruption.

The reason, argue top scholars and consultants Edward Freeman and Ellen Auster, is that all too often values are handed down from on high, with little employee input, discussion, or connection to the challenges and opportunities facing the organization. Although the words may be well-intentioned, they aren't reflected in the everyday practices, policies, and processes of the organization. This practically invites disconnects between intention and reality.

To bridge this gap between the “talk” and the “walk”, Freeman and Auster provide a process through which organizations can collectively surface deeply held values that truly resonate with everyone, from top to bottom. Their Values Through Conversation (VTC) process focuses on four key types of values conversations: introspective (reflecting on ourselves and how we do things in the organization), historical (exploring our understanding of our past and how it impacts us), connectedness (creating a strong community where we work well together), and aspirational (sharing our hopes and dreams).

By developing values through discussions—casual or formal, one-on-one or in groups—VTC ensures that values are dynamic and evolving, not static words on a wall or a website. Freeman and Auster offer advice, real-world examples, and sample questions to help you create values that are authentic and embraced because they are rooted in the lived experience of the organization.

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Overview

Bridging the Values Gap

Business has a values problem. It's not just spectacular public scandals like Enron (which, incidentally, had a great corporate values statement). Many companies fail to live up to the standards they set for themselves, alienating the public and leaving employees cynical and disengaged—resulting in lower productivity, less innovation, and sometimes outright corruption.

The reason, argue top scholars and consultants Edward Freeman and Ellen Auster, is that all too often values are handed down from on high, with little employee input, discussion, or connection to the challenges and opportunities facing the organization. Although the words may be well-intentioned, they aren't reflected in the everyday practices, policies, and processes of the organization. This practically invites disconnects between intention and reality.

To bridge this gap between the “talk” and the “walk”, Freeman and Auster provide a process through which organizations can collectively surface deeply held values that truly resonate with everyone, from top to bottom. Their Values Through Conversation (VTC) process focuses on four key types of values conversations: introspective (reflecting on ourselves and how we do things in the organization), historical (exploring our understanding of our past and how it impacts us), connectedness (creating a strong community where we work well together), and aspirational (sharing our hopes and dreams).

By developing values through discussions—casual or formal, one-on-one or in groups—VTC ensures that values are dynamic and evolving, not static words on a wall or a website. Freeman and Auster offer advice, real-world examples, and sample questions to help you create values that are authentic and embraced because they are rooted in the lived experience of the organization.

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Meet the Author & Other Product Contributors


Visit Page - Edward Freeman

R. Edward Freeman is University Professor and Olsson Professor of Business Administration; Academic Director of the Business Roundtable Institute for Corporate Ethics; and an Academic Director of the Institute for Business in Society at the Darden School, University of Virginia. He is also Adjunct Professor of Stakeholder Management at the Copenhagen Business School in Denmark, Visiting Professor at Nyenrode Business School (Netherlands), Adjunct Professor of Management at Monash University (Melbourne) and Visiting Professor at the International Center for Corporate Social Responsibility at Nottingham University. He has held honorary appointments as the Welling Professor at George Washington University and the Gourlay Professorship at University of Melbourne. Prior to coming to The Darden School Mr. Freeman taught at University of Minnesota and The Wharton School, University of Pennsylvania.

Freeman is the co-author of Stakeholder Theory: The State of the Art(Cambridge, 2010) and Managing for Stakeholders(Yale, 2007). He is the author or editor of over twenty volumes and one hundred articles in the areas of stakeholder management, business strategy and business ethics. Freeman is perhaps best known for his award winning book: Strategic Management: A Stakeholder Approach (Cambridge, 2010) , originally published in 1984, where he traced the origins of the stakeholder idea to a number of others and suggested that businesses build their strategy around their relationships with key stakeholders. He was the editor of the Ruffin Series in Business Ethics (15 volumes) published by Oxford. He is the co-editor with Mette Morsing and Jeremy Moon of the Cambridge Series: Business, Society and Value Creation (11 volumes).

Freeman has a Ph.D. in Philosophy from Washington University, and a B.A. in Mathematics and Philosophy from Duke University. He was recently awarded an honorary doctorates (DHC) in economics from Comillas University in Madrid, The Hanken School of Economics in Helsinki and an honorary doctorate in Management Science from Radboud University in Nijmegen, Netherlands for his work on stakeholder theory and business ethics. Throughout his career he has received a number of teaching awards from the Wharton School, The Carlson School, the Darden School, the University of Virginia, the State of Virginia and the Academy of Management. He has received Lifetime Achievement Awards fromthe World Resources Institute and Aspen Institute, the Humboldt University Conference on Corporate Social Responsibility and the Society for Business Ethics. He has worked with many executives and companies around the world.

Freeman is a lifelong student of philosophy, martial arts and the blues. He is a co-principal in Red Goat Records, LLC found at redgoatrecords.com.

Click here for more information on R. Edward Freeman



Visit Author Page - Ellen Auster

Ellen Auster's research interests center on strengthening strategic capabilities and the dynamics of strategic organizational change. A persistent theme in her work is creating shared leadership, stakeholder inclusive, value creating approaches that inspire innovation and enable the firm to cultivate the short and long-run capabilities needed for continuous evolution and success. Adopting a multi-theoretical approach, recent projects focus on: the dynamics of stragility; exploring the intersection between leadership, values and authenticity; navigating the politics and emotions of change; analyzing the barriers to social justice in promotion decisions at the top, and strategies for emerging economy firms. She has also written on pedagogy and business teaching.

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Table of Contents

Foreword

Preface

Part I: Understanding the Values Gap in Business
Chapter 1: The Values Gap in Business
Chapter 2: Just Be Authentic: Not So Fast, Not So Easy
Chapter 3: Authentic Organizations: Is Yours One?
Chapter 4: Do Values Right or Don't Do Them at All
Part II: How Businesses Can Bridge the Values Gap
Chapter 5: Introspective Values: Reflecting on Self and the Organization
Chapter 6: Historical Values: Exploring the Impact of Our Past
Chapter 7: Connectedness Values: Creating a Sense of Belonging and Community
Chapter 8: Aspirational Values: Our Hopes and Dreams
Part III: Bringing the Conversation to Life

Chapter 9: Getting Started
Notes

Index

About the Authors

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Endorsements

“Freeman and Auster demonstrate how companies imbed or disregard values in their operations. With these examples, we learn why bridging the values gap makes a difference in economic and social value creation and long-term success. This book is a must-read for practitioners as well as academics.”
—Patricia H. Werhane, Wicklander Professor of Business Ethics and Managing Director, Institute for Business and Professional Ethics, DePaul University

Bridging the Values Gap should be essential reading for business leaders. Freeman and Auster demonstrate how business executives can use shared values to create platforms that engage employees and drive results. In my twenty-five-plus-year career at Procter & Gamble, I saw how its purpose, values, and principles provide the foundation for P&G's success. Simply put, values drive shareholder value.”
—Lisa Hillenbrand, former Director, Global Marketing, Procter & Gamble

“A lot has been preached about the importance ­ and unfortunate absence ­ of values in business. Freeman and Auster spare us the preaching and instead show us how values come to life in real companies. Most important, they then provide managers with specific tools for bringing values to life inside their organizations.”
—Joshua Margolis, James Dinan and Elizabeth Miller Professor of Business Administration, Harvard Business School

“Consistently living up to strong values—both organizationally and individually—is among the hardest challenges facing business leaders today. This is also why it is such a powerful force for competitive advantage. If you aspire to make values a key part of your business or your own career, Freeman and Auster will help you avoid the most common mistakes and see more clearly the panoply of opportunities that Values Through Conversation can create.”
—Robert Phillips, Professor of Management and Philosophy, Politics, Economics and Law, University of Richmond

“Freeman and Auster identify a problem facing most businesses—what they call the ‘values gap'—and they demonstrate how it impedes business success. They provide concrete ways that managers can bridge the values gap in their corporations. Their solution directly integrates values into business practice. This book will appeal to managers at all levels, and they will find that it is an excellent resource for their personal and professional growth and development.”
—Adrian Keevil, Partner, PlusTick Partners

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