"Value what you do, do what you value" a content analysis of corporate values of turkey's top 500 industrial enterprises

Abstract

Increasingly companies around the world have adopted formal statements of corporate value and managers of today's fast paced and technology driven organizations identify values as a top issue on their companies' agendas. In the past decade, strategic management research has focused on the investigation of the impact of non-market factors on competitive advantage and corporate performance (Husted, Allen, 2007; 345). In contrast to traditional strategic management approaches, social strategy focuses on the relationship of non?? value chain related activities, such as corporate philanthropy, corporate values, to the creation of competitive advantage (Hillman, Keim, 2001; 125). Personal and ethical values constitute the basis of corporate strategy formulation, together with the market environment and corporate resources. In fact, all decisions include an element of values. Therefore values are sources of competitive advantage and affects financial performance. This paper focuses on the companies listed in Turkey's Top 500 Industrial Enterprises" (prepared by the Istanbul Chamber of Industry). The corporate value statements of these companies are then analyzed to determine their components and the differences between the corporate values of the local companies and the companies with foreign investments are investigated in this research."