As America seems to be less and less about values in the eyes of most of my boomer friends, one has to wonder if they matter in business. I call my business a values-based business, because we stated the values that underpin the business in our business plan before the business launched.


We share those values with potential clients and on our website. Much bigger and stronger businesses such as Starbucks, IBM, HP and Merck built their ethical and moral foundation on stated values through which they filter business decisions. I've begun to wonder if anyone cares.
The 2004 "Cone Corporate Citizenship Study" revealed that 80% of Americans trust companies that work for good causes, a 21% increase since 1997. Social outreach is only one factor in a values-based business but I believe it is the most apparent one to those outside the company.
"Our report is the nation's longest study of American attitudes toward corporate support of social issues," says Carol Cone, CEO of Cone, a Boston-based strategic marketing firm. "This study, in a series of research spanning over a decade, shows that in today's climate, more than ever before, companies must get involved with social issues in order to protect and enhance their reputations."
On the flip side, the research found that Americans will react negatively to companies that behave illegally or unethically. Those surveyed said they would likely respond in a variety of ways:
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Consider switching to another company's products or services (90%).
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Speak out against that company among my family and friends (81%).
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Consider selling my investment in that company's stock (80%).
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Refuse to invest in that company's stock (80%).
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Refuse to work at that company (75%).
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Boycott that company's products or services (73%).
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Be less loyal to my job at that company (67%).
Based on the research, values seem to matter. But another study by Cone raises serious questions to what extent they matter.
Business leaders need to understand what customers are thinking if they are to meet their wants and needs. Cone's research showed what Americans most value:
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Quality of products and services (98%).
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Fair-priced products and services (97%).
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Employee benefits (93%).
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Laws and regulations (93%).
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Human rights and manufacturing (93%).
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Support of a social issue (80%).
Note that quality of products and services ranks first, just one percentage point above pricing. One can argue that values are intrinsic to quality and fairness. One can also argue they aren't.
So I ask you: Are business values important to most Americans or are they just words on a piece of paper that make us feel better about ourselves? Many of you know where I stand based on my book and my other writings. But where do you stand?