Practice What You Preach

Win the Right Way

No one goes into business to lose, but can we preserve our values as we work toward success? In this video, Steve Reinemund, retired Chairman and CEO of PepsiCo, Inc., looks at how a business leader can live out his or her values. It’s important to have a vision and values for a company. But it’s even more important to actually live out those values. Listen as Steve relates an experience of his where values in the company shone through. 

It’s one thing to define values. It’s another thing altogether to live them out. Steve points out that, when a company lives contrary to its expressed values, those values have no meaning. They aren’t really values at all. 

Where do you see the values of your business being lived out? If they aren’t, why do you think that is?
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Which value have you discovered to be the most difficult for the company to live out? Why? Which is the easiest? What makes it easier to live?
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In Steve's story, the administrative assistants acted with honesty and integrity because the company valued winning the right way. Both pieces were there: expressed values and lived values. Steve shared how the company celebrated the assistants who did the right thing. He points out that, in order to create an environment for values to succeed, the company must celebrate those who live the values, and correct those who don’t. 

Does your business have a way to correct team members who don’t conduct themselves in accordance with the values of the company? Why or why not? What does it look like?
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PepsiCo celebrated the assistants who embraced the company values. How does your business promote following the values of the company?
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Even if vision and values are an integral part of a company, a leader still needs to live them out. When a company’s people embrace and live out the values of the business, the business will succeed and move toward its goals. As you look at your own business, remember to take the steps to move values from theory to practice. 

For more insights from Steve Reinemund, check out the full course The Brave New World of Business.  

This post was made in cooperation with the Soderquist Leadership. For more great content, visit their website here.