Define Values- Based Management and Discuss the Purposes of Shared

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The Answer is "Values- based management" is an approach to managing in which managers establish, promote, and practice an organization's shared values. An organization's values reflect what it stands for and what it believes in. The values that organizational members share serve at least three main purposes. The first purpose of shared values is that they act as guideposts for managerial decisions and actions. Another purpose of shared values is the impact they have on shaping employee behavior and communicating what the organization expects of its members. Shared corporate values also influence marketing efforts. Finally, shared values are a way to build team spirit in organizations. When employees embrace the stated corporate values, they develop a deeper personal commitment to their work and feel obligated to take responsibility for their actions. Because the shared values influence the way work is done, employees become more enthusiastic about working together as a team to support values that they believe in.

Define Values- Based Management and Discuss the Purposes of Shared

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