“ Every failure is a blessing in disguise, providing it teaches some needed lesson one could not have learned without it. Most so-called Failures are only temporary defeats.”
Napoleon Hill
With fierce global competition, organizations need to change. Global values (GV) may be the key term for the millennium. Building on similar values will be crucial for multi-national organizations. Let’s explore this thought closer. Twenty-first century organizations can no longer create values independent of others without any market input. Why should today’s leaders be concerned with organizational values? Conflicts in values between leaders and followers can have a dramatic impact on the bottom-line of an organization. Hamel, author of ,i>Leading the Revolution, maintains that these turbulent times are forcing organizations to adapt.
Creating shared valued with the customer is a remarkable concept in today’s competitive climate. Prahalad and Ramaswamy (2004) argue that an individual-centered co-creation of value between the customer and company is being generated. Clearly, a check and balance system is needed because powerful people don’t always do what is right. Thieme explains, “The future is a social construction of reality.…Those possibilities will be defined by our horizons and our horizons are in turn defined by the breadth of our understanding of complex societal changes.” While fewer organizations are embracing co-creation of values in hypercompetitive environments, can any organization afford to be left behind?