TY  - CHAP
U1  - Buchbeitrag
A1  - Schmiedeknecht, Maud Helene
ED  - Idowu, Samuel
ED  - Schmidpeter, René
ED  - Capaldi, Nicholas
ED  - Zu, Liangrong
ED  - Del Baldo, Mara
ED  - Abreu, Rute
T1  - Values Management System
T2  - Encyclopedia of sustainable management
N2  - The ValuesManagementSystem (VWS) is a management standard to “provide a sustainable safeguard of a firm and its development, in all dimensions (legal, economic, ecological, social)” (VWSZfW, p. 4). It includes a framework for values-driven governance through self-commitment and self-binding mechanisms. Values promote a sense of identity and give organizations guidance in decision-making. This is especially important in decision-making processes where topics are not clearly ruled by laws and regulations.

VMSZfW must be embedded in the specific business strategy, structure, and culture of an organization. The following four steps describe the implementation of the ValuesManagementSystemZfW: (i) Codify core values of an organization, for instance, with a “mission, vision and values statement” or Code of Ethics, (ii) implement guidelines such as Code of Conduct and specific policies and procedures, (iii) systematize these by establishing management systems such as Compliance and CSR management systems, and (iv) finally organize and establish structures to ensure the strategic direction and operational implementation and review of these processes. The top management shows that values management is taken seriously by their self-commitment to the core values of the company.
KW  - compliance management system
KW  - CSR management system
KW  - values management
KW  - ValuesManagementSystemZfW
Y1  - 2022
SN  - 978-3-030-02006-4
SB  - 978-3-030-02006-4
U6  - https://doi.org/10.1007/978-3-030-02006-4_408-1
DO  - https://doi.org/10.1007/978-3-030-02006-4_408-1
SP  - 1
EP  - 6
S1  - 6
PB  - Springer
CY  - Cham
ER  -