If you wake up as Alan Mulally, it’s not as good as waking up as Warren Buffett, but nowadays it has to feel pretty close to it. Ford’s CEO and Automobile magazine’s 2010 Man of the Year, Mulally has shown himself to be a skilled leader, both at Boeing and at Ford. But even he knows it could have turned out very differently.
In November of 2008, he was being treated contemptuously by Congress and the media, along with Bob Nardelli of Chrysler (one of the all-time bad CEOs and worth a column of his own) and Rick Waggoner of GM, for his pay package. In the end, he really did not apologize for his salary and perks, and as is often the case, it turned out he was worth what he was making.
Mulally’s job was not an easy one. He took over his role from Bill Ford, who walked out the door scratching his head at what was apparently unsolvable slippage in the company’s fortunes. He cleaned house to the extent necessary and focused on cars the public wanted, including hybrids. He even seems to be succeeding with bringing back the Taurus. (Note: I have often told my students that the two great evils on earth are Enron and the 1995 Ford Taurus Wagon.)
But the most important thing Mulally did in his time of crisis was to state his values, and Ford’s, clearly. No bankruptcy. No bailout. We will do it ourselves, whatever it takes. Then he went out and got the financing to turn the boat. Now Ford has passed GM in unit sales. This may only be temporary, but it is psychologically empowering for his company, at the very least.
There is a moral component in these statements of self-sufficiency that resonates with the American people. They do not like sycophants like GM who take bailout money, and they do not root for incompetents like Chrysler’s Nardelli. They love to support folks who stand on their own. And they are not very fond of ethical calculators who put a price on human life. Ford learned that lesson long ago with the Pinto’s exploding gas tanks.
Not all the waters will be smooth for Alan Mulally in the days ahead. But it is entirely possible that Ford’s clearly stated values will help them solidify their gains and compete at a new level, particularly in the United States.
This is a lesson for all of us, and one I am taking to heart as I begin my Ethics class again in a few weeks. What I am interested in hearing from readers in the response area below is this: In 50 words or less, what values drive you?
Categories: Business
Check out soulpancake, they asked a similar question not long ago at http://www.soulpancake.com/ Very interesting replies.
I like your strategy of asking question at the end!
Here is one of my posts that was a take-off from a soulpancake post http://ruach.wordpress.com/2010/03/07/why-are-we-not-more-honest/
Have a great spring break
In response to your blog, there are two values that drive me as a young professional:
1. Maintaining relationships
2. Being self efficient
Self efficiency improves productivity and builds trust that you will pull your weight in a relationship.
Brooke, I like those values. Maintaining relationships is so important to long-term success and contentment as a professional. It sounds like you are focused on trust in those relationships, on being someone others can count on. Do I understand self-efficiency as including self-motivation?
Thanks for your comment!
Most definitely, self-efficiency does not have any weight unless it is driven by self-motivation. We are all motivated by an internal desire to better our own position whether it’s socially, financially, or relationally. In Alan Mulally’s case, he was scrutinized for bettering his own financial position by accepting his high salary when circumstances were tough for others. But, as it was noted, he was worth every penny of his salary because of his contributions and effectiveness at Ford.
When Ford declined the government’s bailout option, Mulally’s self-efficiencies were more transparent than ever. Everything he did was compared to what the government was doing to help GM and Chrysler. But in approaching Ford’s tribulations as an internal challenge, Mullaly was able to generate cash flow to reposition Ford for success. In my opinion, there is no way that he would have accomplished such a turn around and out paced GM and Chrysler without relationships with investors, advisors, and industry leaders and self-motivation to better the circumstances of Ford, the auto industry, and himself. I would be beside myself if his values were not rooted in self-motivation to utilize relationships and be self-efficient.
What values drive you and what do you preach in your Ethics class? And, when thinking about the current economic situation, what is the most ethical way for a corporation to handle layoffs, furloughs, and department budget cuts?
As a big sister 6 times, I am inevitably a role model to some of the most important people in my life. This responsibility instills in me a duty to act ethically. Values such as honesty, compassion, and hard-work drive me to always strive to be a positive influence.
I value honesty, compassion, friendships, and fun. If you don’t have honesty, you can’t have trust which is the foundation for relationships (both professionally and personally). Compassion comes in the form of caring for others, whether that be in the form of a shoulder to cry on or donating time or money to those in need. Friendships are what I value in life; money is important for surivival, but without friends/family you have nothing. I believe that having fun in life is important; afterall, “when you smile, the world smiles back at you.”
In anything situation in life, I believe it is imperative to know your values and what you stand for before you are thrown into a situation that demands action. I believe it is much easier to act in a way that aligns with you moral character when you know how to define that moral character before a moment of need. With that said, one of the values that has guided me and was instilled in me when I was young is the value that no matter the foreseen consequence or outcome, being as honest as possible is always the best course of action. For me, I am slow to accept absolutes such as always, never, etc., but with the prior sentence I believe an absolute is acceptable. I can’t claim perfection over the course of my entire life, but this value I still firmly stand on, and feel blessed that this value has driven me for so long.
I value honesty, kindness, loyalty, and being hard working. I think there is one thing that encompasses all of these things, and that is to always be respectful of people. If you go about life being respectful of everyone you come in contact with, you will be honest and kind to them. If you respect the people you are closest to, you will remain loyal to them. If you respect your teachers, employer, and the shareholders, you will be hard working and efficient. I think respect is something that is somewhat lacking in today’s society and that it needs to be much more prevalent.
I am constantly looked on to be a role model by my little brother. I enjoy the opportunity to play a key role in his young life. I catch him trying to act like me on a daily basis, and he picks up on my actions and traits. It gives me a good feeling inside to know that I am helping mold such an incredible little brother.
Values that are of great importance to me are building strong relationships with friends, peers and above all family. I also strive to be independent while not being too self-important to reach out and ask for help when it is needed. Finally I value growth from my everyday experiences.
Values are an integral part of my life. They guide my daily actions and decisions. I was very fortunate with parents that live by certain values and we (brothers, sisters, and I) learned to live by those same values because of my parents. I would hate to dissappoint my parents by doing something that does not follow our values. If I ever have to make a decision I sometimes ask myself, ” If I do this and my parents found out what would they think?” If the answer is they would be dissappointed then I know that I shouldn’t go along with whatever I was debating about. A person with values and he/she stands by them then it is less likely to make an unethical decision.
When I read that question, honesty was the first thing that came to mind. This is probably the case because of our subject matter in class and personal situations I’ve dealt with recently. I think some of us forget the power of honesty too easily. Honesty can clear the air or temper a storm so that not everything comes crashing down. Many problems can be solved or atleast addressed with a dose of honesty. Some other values that I try to follow are compassion, responsibility, respect, and courage. When I say courage, I mean the courage to stand up for myself, stand up for those who can’t stand up for themselves, and stand up for what is right. Considerring the environment I know I may face in my professional career as an accountant, I pray and hope that this is a value that I will stick to.
Both of these men have been very focused on their own self-interest. I understand that a lot of people believe that to be successful, they must rely and utilize their own skills. However, a lot of times, your personal success is gained through the detriment of others. In my opinion, if you have to take advantage of someone else or another entity, your success is ill-conceived and is meaningless. Integrity not only involves performing in a manner that is respectable but also includes taking into consideration the needs of others.
A personal attribute that I value very highly is the characteristic of loyalty. And I don’t mean just claiming that you’re loyal to someone or some entity or as many CEOs and CFOs claim that they were acting in the best interest of the company, when their actions contradicted their statements. However, it is common in the business world to see how loyalty can cross the line in ethical reasoning; this where I believe situational ethics come in to play.
There are several values that I strive to live by day in and day out that have led me to where I am today. Similar to one that I feel Mulally has as well, is hard work. I believe that in life you should not be given hand-outs or allowed to take the easy road in situations. You should work hard in everything that you do and be able to stand by the consequences of your actions, whether good or bad. Working hard is a rare characteristic in the business world today, where most people are able to recieve hand-outs when things start to go wrong. Another important value that I hope to never disregard is humility. This is also a rare characteristic to find in the business world and is a value that I feel everyone needs. The ability to be humble, act in ways that are not always in your self-interest, and admit when you are wrong will help shape a strong individual.
Well said, Pen48. Hopefully we’ll get to talk about humility later this week.
Saw your blog in the @Mays magazine, and I am really enjoying it.
Last year I developed a set of core values for myself to help with decision making and to remind myself what is most important to me when I am pulled in a number of different directions. They are:
Wisdom
Relationships
Balance
Development
Integrity
Thanks for sharing!
My values help to shape my priorities. They determine how I react to certain situations. When our actions are aligned with our values, life is generally good and we feel content. However, when our behaviors don’t match-up with our values, we soon begin to sense an uneasiness that begins to swell and grow inside of us. My faith in God, integrity, and self-motivation keep me grounded. These values drive me daily.
This question really makes you think. I should say first that my values are built upon a deeper and more unchangable foundation. Whereas some might consider your values the deepest part of who you are, I know that the utmost core of who I am is found in Christ, and it is out of that relationship that the more external values and resulting actions flow. But for the specific values that I adhere to (or want to seek) in order, they would be:
-Humility
-Wisdom
-Excellence
-Love
These are very loaded words and require a lot to unpack. I am also not sure how final this list is. Only time and more thought will tell.
Many people have different values, and many values work for different people – but without any values at all, a peron’s life can start to look pretty bleak.
“Try not to become a man of success, but a man of value.” – Albert Einstein
I think that quote is very appropriate — we see individuals on the news daily who are quite obviously successful, but do not have the proper values in place. Often times they get caught up in fraud and choose the easier, unethical path in decision making. At the end of the day, I have a few values that I try and uphold: honesty, honor and humility.
As far as school and being a member of society are concerned, a lot of my values parallel those presented in books like the fountainhead. As long as I work as hard as I can for something I want, I’m satisfied. i don’t feel I am entitled to anything. Much of that stems off the way I was raised as well.
In my personal life, I try to treat everyone well and and just be a reasonably good person. It’s not a specific set of rules or code, but if something doesn’t feel right I just won’t do it. My instincts have served me well and I believe they will continue to. I also am very close to my best friends and family, and value them highly. Without them there to guide me through tough spots, I don’t think I’d be where I am today.
The values that guide me are trying to have humility and put others before myself. It is so easy to get caught up in yourself, so I try to stay grounded and remember what is truly important. Also, I put value in close friendships and trying to do things for others that make them feel important and cared for.
The values that drive my life are faith, family, friends and future. I value God and the amazing people that he has put in my life that have helped shape me. I value courage, honesty, integrity, positivity, kindness and determination which contribute to the future that I want to pursue.
I want to contribute to the world and help people whether that may be through being an auditor, teacher or volunteer. I refuse to let life’s circumstances overtake my life and will always strive to treat others better than myself. These are the values and truths that I recognize in my own life.
I am driven by my relationships with people, honesty, and integrity. I also try to see how any decisions I make effect other people. I try my hardest to find win-win situations whenever possible. I also am driven by learning from my mistakes. I am driven to succeed in life by making the right decisions to do so.
Upholding my values daily is very important to me. Some of my main values are honesty, kindness, and being a hard worker. I believe in always being honest with people I care about because they deserve to know the truth about things no matter how hard it is for me to tell them. This doesn’t mean I agree with being brutally honest about things. There is a big difference between the two. I am honest with friends and family because I care about them. I always try to be kind to other people too because it just makes life more pleasant for everyone when people are nice. I really enjoy making other people happy. Being a hard worker is the value that has driven me since I was very young. I have always tried to do the best I can at everything I do whether it is with school, sports, friendships, relationships, my faith, etc. All three of these values are very important to me and I believe everyone should establish their own values which are important to them too.
Some of my values have changed over the years, while others I’ve disregarded; however, some of the values I hold close to my heart have remained the same ever since I knew what values meant:
1) Treat others the way you want to be treated (I’m pretty sure the first value I learned)
2) Family and friends come first
3) Always work hard (this gives me trouble sometimes)
4) Enjoy living life, don’t get too caught up in the future
Those are very briefly the more important values I have in my life and hopefully I am able to follow them.
My favorite quote is “Dream as if you’ll live forever, live as if you would die today”. This is something I constantly think of as I make choices in my everyday life. I think it sums up the value of enjoying this short life we have on earth as well as the importance of dreaming to make it the best life it can be.
I secondly carry with me as I live this life, the importance of faith, integrity, and family. Without these, life is meaningless to me.
The values that guide my life are the loyalty and love to my family and friends, the desire to seek out opportunities to learn new things, and the ability to always have an open-mind.
The values that drive me in my life currently are compassion, honesty, wisdom, and many of the other values mentioned in the previous comments. But forgiveness also is one of my values. I believe it is important to forgive those for their mistakes and support and help them grow in the future. We all make mistakes and it helps knowing that there is someone out there to guide us back to the right path.
In response to the comment about Ford’s CEO, Mulally, I would agree that clearly stated values helps guide us to the right decisions. Our values (compassion, honesty, wisdom, love, integrity, etc.) drives us to do what is right not only for the company, but for everyone involved in that decision.
Everyone has values, regardless of if they have ever written them down or not. Every person, at least those that I have met, act on their values on a daily basis. In my last post on “Dumb and Dumber” it was obvious that the “Fabulous Fab” Tourre (this guy is quoted saying a few outlandish things) has a clear set of values that he was acting out is life on. I cannot be sure what he values, but it seems like self gratification ranks high for him.
The things that matter to me most are:
#1 My relationship with my God and savior Jesus Christ and #2. Loving others
While these are the things that I explicitly value the most in my life, a quick look into my daily life would show that with my time, energy and resources, I value… #1 myself- I find that most of my actions during the day are just things done in self interest and #2… loving God and loving others.
Its startling how much I have in common with the Fabulous Fab. That just gets me back to my values though, I really do care the most about Loving God and Loving Others, I’ll just keep working on showing that with my time and energy during my daily life.
I am driven by my Christian values. I want to make sure that everything I do represents what I believe deep in my heart. Another driving factor in my life is the desire to find the good in everyone. If I am looking to build others up and encourage them it will undoubtedly enhance all of my relationships. And if I am successful in having positive relationships I truly believe it will spill over to my professional work. Joyful people produce better work and I am out to be living proof.
The values that drive me are those instilled in me from my parents and family. I always admired the generosity of my parents as well as their ambitions. I believe it is important to have a good balance between the two. I also think having integrity and faith are to other important qualities. I’m not always going to make the “right” decision, but I believe if I go back to my values, I will develop and learn, and hopefully become a better person.
I know this blog was intended for us to read before we started our ethics class, but I am glad I read it at the end. I do not believe that my ethical values are different now than they were before I started the class, but I do believe that I am more aware and concious of them, and willing to stick up for what I believe in. The values that I try to live my life by are to show love to all around me, take responsibility for my actions, and to stay true to my word.
The situation Alan Mulally inherited, although bleak, has given him a great opportunity to influence others. Mulally’s action have now made a vast imprint on the automobile market…our actions may seem to have a limited impact but the end result tend to be exponentially greater. The problem is our actions are not guaranteed to make a positive impact…placing an even greater value on a strong set of core beliefs.
When I was trying to think of the core values that drive me, they all came down to these two:
1. Relationships- Above all, I value my relationship with Jesus Christ and God’s plan for me. In addition, I value the unconditional love and support from my friends and family.
2. Always do your best- Whether it’s in a class, organization, or intramurals my parents have always told me that they will be proud as long as I give my best. Their support and encouragement mean the world to me.
By continuing on the story of Ford, I found two things which Ford relied on to maneuver out of the crisis and which are also the driving values for me. They are focus on quality and being able to compromise. Quality is the key to success for every profession. Toyota probably had learned it the hard way since the recall storm. I don’t think Ford could have sustained the business during the crisis had they been involved in a quality scandal. Now Ford is in an advantageous position to compete with Toyota in the US market. In addition, in order to have enough cash and reduce cost level, Ford had no choice but selling Land Rover, which Ford bought and invested with great amount of money and energy. Ironically, Land Rover was projected to return to profitability had Ford been able to sustain the brand for two to three years. But Ford made the tough decision anyway. Unlike GM, Ford knew when to compromise and that is part of their success story.
The values that drive my life would be compassion for each person I encounter, loyalty and love towards my friends and family, honesty in my actions, and hard work full of integrity – for no matter the transgressions, hard work and integrity will lead you to accomplish anything. Bearing all those in mind, the last value I have taken from my mother and has turned my life around, “Do one thing every day that makes you happy.” No matter what hardships life throws at you that day, put it all aside to enjoy the life that God gave us for even just a moment.
50 words or less? Dang, pretty tough for someone that can ramble like me (which I’ll do in the next few paragraphs). But here it goes, in no particular order (all previous words, as well as these in parentheses, don’t count!):
The value of quality, the value of a hard day’s work, the value of an education, the value of respect, the value of commitment, the value of significant life changes, and the value of remaining true to yourself are values that drive me.
That was only 43 words, and I know my values are not your typical ones, such as integrity, honesty, or morality, but it is because those are just ways I try to live my life, and not what DRIVE me to live my life the way I do. If that doesn’t make complete sense, I’ll try to explain what I mean below.
First, I try to have quality in many aspects of my life, especially when I compare it with quantity. For example, I prefer to have my select best friends who are there for me no matter what, than a huge group of people I can’t count on. The value of a hard day’s work is something you can measure by your paycheck, but for me, it is also the sense of accomplishment that you have for yourself when you know you worked to the best of your ability. College tuition obviously has its price, but some benefits are so much greater than can be measured by a tuition payment. Respect is something you bring upon yourself based on decisions and actions you make on a daily basis, and if you value respect, you will act in ways that gain the respect of others. Commitment is something you make to a specific person, and having this as one of my values allows me to put someone else before myself when possible, especially my commitment as a big sister to my 12 year old brother, but also any relationship I develop with another person. What I mean when I say I value significant life changes is the way one chooses to respond to those changes, and hopefully becomes a better, stronger person in the process (most notably, divorce and death I have experienced in my family). Finally, I think there is a great value in being true to yourself every minute of every day. Unlike most people, these values probably differ greatly from my parents’, but as my last value states, I am true to myself by having my own set of values. So, as much as I see the value in integrity, honesty, and morality, I would not say those are the things that really drive me. I am driven by things I experience, things I have a degree of control over, and in holding these as my values, I attempt to exhibit those three general ones in all aspects of my life.
One of the most important values that drive my life is honesty. By being honest with ourselves, it is much easier to hold us accountable to our responsibilities, duties, and moral code. By being honest to others, it allows us to build relationships and establish trust. I feel that honesty is a vital quality for our happiness and our success in life.
Like others have said, I think the most important value for me would be maintaining relationships. This can have a very broad meaning. Each relationship we have can help us in different ways. My relationship with my God guides my life and instills many of the values that others have mentioned above. As long as I keep this relationship firs and foremost, the others in my life tend to follow.
In response to the question you posed, what drives me is my faith. It teaches me to strive for knowledge. It teaches me to be honest. It teaches me to be just. It teaches me to be ethical. It teaches me to avoid harmful things. It teaches me to be open. It teaches me to be respectful towards others. Finally, it teaches me how to live a life of value. If I live by my faith, I hope that when i look back at my life I can be proud of everything that I did and every choice that I made.
The values that seem to always stick with me are the principles my parents have instilled in me throughout my life. These values are always being honest, being true to myself, and thinking of others rather than myself. I feel this has been a great base for me to grow.
I believe that values are a fundamental part of life and that without them it would be almost impossible to make ethical decisions. We are confronted with ethical dilemmas everyday, whether they be big or small, and it is very important for an individual to know the values that are most important to them in deciding what to do in these situations that is morally and ethically correct to them. I have a lot of values that are important to me such as honesty, integrity, and compassion to name a few. I am very driven by my faith which I see a lot of others are too, and I believe that as long as you remain true to your faith and your values you should be fine.
Many values have driven me to get where I am at today. However, I think the most important values I have gained are the ones my parents have passed down to me. It is easy to see how my parents are getting everything they want out of life and it is because they have stuck to a group of core values that have been able to ground them during troubling times. I think at every point in someone’s life, our values are questioned and our motivation is stalled. However, if you have someone around you who believes in the same core values, it makes it easier to make the right decision and continue on even through the rough times.
Values are characteristics we want to attain in our lives, and they are things that one has to constantly work at because if it came easily then it wouldn’t be something that would be a high priority. The harder something is the more we learn to value it. But at the end of the day knowing that you have these values will give you a sense of accomplishment. Things I value are self sufficiency (being able to support myself independently), maintaining healthy relationships, honesty, and compassion. There are many more but these would have to be my primary values. Honesty is the value that to me is one of the hardest to achieve. It is hard to be able to be honest with yourself and be honest to others regardless of the consequences and at all times.
I looked up Ethisphere after a group presented on the organization today. Ford is on their list of 2009’s World’s Most Ethical Companies, so Mulally’s leadership must have worked. Confidence is one of my highest values because it is self-empowering and inspires others. Mulally confidently stated steps the company would not accept, so he must have been confident in his leadership and other Ford employee’s actions and abilities. Whether good or bad, confidence inspires trust and performance validates that trust. People who trusted Mulally’s confidence were rewarded with a company that adds value to the economy and society.
The values instilled in me are from my parents, friends and religion. I live my life by applying the golden rule and rationalize my decisions by putting myself in someone else’s shoes. I also value honesty like most people and of course working hard because without hard work there can be no sense of accomplishment.
Since this blog was written at the beginning of the course, it made me wonder what kind of changes have occurred for others after going through the course. For me, the exchange of thought throughout the course was very eye opening.
After numerous, sometimes heated class discussions throughout the semester, I discovered ethical issues that I didn’t know existed. For example, one discussion in particular that I am still thinking about addressed the question: “Is there such thing as a selfless act?” Some argued that of course there are selfless acts. Others argued that every act is done because of an underlying want. The division between the class on the issue was really surprising.
The Accounting Ethics course has definitely opened my eyes to ethical issues that I had previously over-looked. In addition, the appropriate way to handle these ethical issues has become more of a blurred concept to me. In the past, I had felt that when put in difficult situations there was a right response and a wrong response. Accounting Ethics has proven to me that people come to the conclusion of what is considered right and wrong on an individual and personal basis. What I believe to be the appropriate response to an issue may vary from the person sitting next me based solely on which principles we find to be most important to us. What’s important is that I am able to determine what my principles are and stick to those principles when put in difficult situations.
Overall, I would like to exemplify integrity, accountability, and compassion in my daily life, as well as live by strong, moral, Christian values.