Values differ for MNCs, Indian cos
Companies across the globe appear to have homed in on customer satisfaction, quality and innovation as the three dominant corporate values, according to an international study.
By TNN |
KOLKATA: Companies across the globe appear to have homed in on customer satisfaction, quality and innovation as the three dominant corporate values, according to an international study.
Christened International Corporate Values Index 2006, the global study was conducted by ECCO International. ECCO is a London-based network of independently owned and operated marketing communication consultancies.
While both foreign and Indian firms find customer satisfaction, quality and innovation dominant global corporate values, they do differ on other parameters. For instance, foreign firms also consider integrity, team spirit, environment, know-how, success, social accountability, respect, competitiveness and value creation as equally strong corporate values.
Indian companies rank excellence, performance and loyalty way above their global counterparts. Indian companies ranked environment way down at the 21st spot in the corporate value index, while foreign companies ranked it at fifth place.
Values like safety or the urge to globalise operations didn't find favour with Indian companies, according to the study.
The study tracked 3,236 companies across 14 sectors in 12 countries — US, UK, France, Germany, Finland, Hungary, India, Italy, The Netherlands, Norway, Poland and Spain — and analysed 301 Indian companies.
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In terms of the average number of company values per country, Germany tops the list with an average of 7.7 values, the study says. India ranks somewhere in the middle alongside Norway, with an average of 4.3 number of values. Companies from Italy and Spain rank much below in terms of the average number of values.
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