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Values Management System

  • 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.

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Metadaten
Author of HS ReutlingenSchmiedeknecht, Maud
DOI:https://doi.org/10.1007/978-3-030-02006-4_408-1
ISBN:978-3-030-02006-4
Erschienen in:Encyclopedia of sustainable management
Publisher:Springer
Place of publication:Cham
Editor:Samuel Idowu, René Schmidpeter, Nicholas Capaldi, Liangrong Zu, Mara Del Baldo, Rute Abreu
Document Type:Part of a Book
Language:English
Year of Publication:2022
Tag:CSR management system; ValuesManagementSystemZfW; compliance management system; values management
Page Number:6
First Page:1
Last Page:6
PPN:Im Katalog der Hochschule Reutlingen ansehen
DDC classes:330 Wirtschaft
Open Access?:Nein
Licence (German):License Logo  Lizenzbedingungen Springer