Laying the Foundation: How Core Values Shape Strategic Planning

Whenever I get a request for Strategic Planning, I always ask the same first question:

“Has your team already developed core values?”

Most of the time, the answer to this is “no,” but sometimes I get a group that says otherwise. The groups that say “no” usually then share that they already have a mission or vision, but need it changed.

Updating your mission and vision is a normal part of growth. Your mission and vision aren’t set in stone – they’re able to be adapted as your team changes, whether your goals have evolved or your responsibilities have shifted. In fact, I would argue that a mission or vision that never changes is a sign of a stagnant team. For reference, Harvard Business School recommends revisiting your mission and vision every five years, but this can shift depending on your needs.

But before we can jump into changing either of those, you have to start with your values. How will you know who you are or who you want to be, if you don’t even know what’s important to you?

Everyone wants a beautiful, stellar mission statement, but a mission made without values is like building a house without a foundation. It likely won’t last long, and it’s probably not going to be an accurate reflection of what you want or who you are.

Source: Pixabay

Your team’s core values are the foundation for your mission statement. To begin discovering your core values, consider the following questions:

• What work does your team do, and who do you do it for?

• Why do you do the work you do?

• Why is the work you do important?

• How does your work make the world a better place?

From there, see if any items overlap. For example, if your team works with multiple departments, “collaboration” may be a value. If you’re student-facing, “student success” or “empowerment” may be values. Your values should be unique to you – some may overlap with other departments, but you should have a clear reason for choosing the values you did. If you have a hard time specifying how a value aligns with your identity, it probably isn’t a good fit.

Consider writing explanatory statements for each of your values. These statements can help others understand the “why” behind your chosen values and further enforce your commitment to them.

Keep in mind that you don’t want too many values, either. The longer your list gets, the more generic it seems, and the harder it is to remember them all. A study by MIT Sloan Management Review found that 73% of companies have between three and seven values, which tends to be the sweet spot.

No matter which values you pick, remember that acting on your values is much more important than simply listing them out. Review your team’s values regularly and be intentional about incorporating them into your work. The more your actions reflect your core values, the closer your team will get to achieving its goals.

Need additional help discovering your core values? Reach out today for coaching and development opportunities. I would love to help your team on your strategic planning journey.