Running a business based on values can lead to limiting group-think and homogeneity. At least that's what Adam Bird, the chief executive of business scheduling platform Cronofy, argues. He believes that principles provide a better foundation for business success. MT asks him to explain his views.
MT: The conventional wisdom is that a company needs a clear set of values to succeed. Why do you think differently?
AB: The reason I'm not a fan of the term “values”, is that their application is subjective and non-conformance is regarded judgmentally. I believe that principles are a better foundation for a company's operating framework than values.