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Explanation of Values System Development (VSD)

Short Explanation of Values System Development (VSD)

Some Components of VSD
1.	Development of The Organization’s Vision Statement	A company’s vision statement gives a clear image of where the company wants to be in the future. The vision statement will serve as the guiding philosophy for the organization and will help to define the way the company operates, focusing attention on the future. The statement will be inspirational and will act as a general direction for the entity. The group will be required to come up with a vision statement for the company that has the following three features: (i) it has a long time frame; (ii) it is clear, compelling, and easy to grasp; (iii) it connects to the core values and purpose of the organization. When the consultant writes the final version of the vision statement for the company, he will ask the following five questions: What is the organization’s ultimate purpose? What does the Managing Director acting on the owner’s behalf want the entity to look like in the future? What does the entity want to be? What is the company’s ultimate image? What is the company’s ultimate contribution to the customer?
2.	Development of The Organization’s Mission Statement	Once the draft vision has been completed, the group will then work on a draft mission statement. The consultant will write the final version based on the input of the group.
3.	Development of The Organization’s Guiding Values	Guiding values are values that an organization feels are important to it. These values outline the behaviors and priorities that guide its decision as it relates to employees and customers. The group will identify at most seven powerful values
4.	Development of The Organization’s Value Proposition	A value proposition is three things- firstly, it is a slogan which a company wants the public to identify with; secondly, it is a corporate commitment; and finally, it is a set of benefits different from those that competitors offer: “Nobody does it better” is a catchy slogan, but it is also a corporate commitment to Kentucky’s customers that they fry chicken better than anybody else. By doing chicken better than the competition, Kentucky’s customers get greater satisfaction eating its chicken and will not go anyplace else to buy chicken. When writing the value proposition of the organization, the consultant will ask the following questions: How will the customer experience value? What will be unique about this value proposition when written? Will the company be competing on price or value? What will the company be willing to do to deliver better service? The vision will be used to guide the consultant when he sits down to write the final version of the value proposition for the company.
5.	Development of The Organization’s Customer Philosophy	A corporate customer philosophy is a belief in the primacy of the customer expressed in a simple statement or slogan or several principles. Sandals and Beaches Resorts’ customer philosophy is “Give the customer more than he or she expects”.