Uncovering the corporate brand’score values

Mats UrdeLund University, Hoganas, Sweden

Abstract

Purpose – This paper aims to describe the uncovering of a corporate brand’s core values andimplications for strategic management of its track record.

Design/methodology/approach – The paper examines the specific track records of Volvo, IKEA,IBM, and Scanpump, focusing on core values and how they evolve. Based on multiple sources ofevidence, the track records of the case companies emerge as patterns of values that are: perceivedexternally by customers and non-customer stakeholders; and rooted internally within an organisation.

Findings – Four categories of core values emerge, termed true, aspirational, potential, and hollow.

Originality/value – The Core Value Grid is proposed as a managerially useful model on “how tobuild true values and avoid hollow values”. In principle, a corporate brand cannot be strongerexternally than it is internally. Rooted core values with track records supporting a brand promiserepresent the essence of a corporate brand, guiding internal and external corporate brand building andmanagement. The foundation of a corporate brand risks being undermined by hollow core values andempty promises.

Keywords Corporate branding, Companies, Resources

Paper type Conceptual paper

BackgroundAll established corporate brands have a track record, which may vary in length andcontinuity. All established corporate brands have core values making up the backboneof their brand track record – whether those values are defined or not. The core valuesmay also vary in number, and in the degree to which they are rooted internally and towhat extent they are perceived by the outside world. Uncovering a corporate brand’score values and track record is the key question in this paper. Knowing “what valueswe stand for” and “what values customers over time have come to appreciate us for” isvital for the management of brands. In principle, I believe that a corporate brandcannot be stronger externally than it is internally. This is perhaps the strongestargument as to why the uncovering and defining of a corporate brand’s track recordand core values is important. The values rooted in the organisation need to resonatewith the values perceived and appreciated by the customers over time, and vice versa.“True” brand core values then become a solid foundation and stand for continuity inthe process of managing and building corporate brands. Conversely “hollow” valuesbecome quite the opposite.

The current issue and full text archive of this journal is available at

www.emeraldinsight.com/0025-1747.htm

This article is based on a keynote presentation delivered at the 11th International CorporateIdentity Group (ICIG) Conference held at Brighton, UK in March and November 2008: one of twoICIG Symposia which celebrated the 10th “anniversary” of the ICIG Conference.

The author is grateful for the constructive comments given by two anonymous reviewers. Inaddition the author appreciates the encouragement from two fellow researchers, from ProfessorLeif Hem (Norway), and from individuals in the four case companies.

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Management DecisionVol. 47 No. 4, 2009pp. 616-638q Emerald Group Publishing Limited0025-1747DOI 10.1108/00251740910959459

The ability to create, develop and protect brands as strategic resources is acompetence and a mindset of the organisation. When the identity of the brand is a hubfor the strategy process, the organisation becomes more highly brand oriented (Urde,1997, 1999, 2003; Melin, 1997; Hankinson, 2002; Baumgarth, 2007; Wong and Merrilees,2008). Uncovering core values and understanding the dynamics of a track record aresteps towards achieving this mindset.

I first recognised the relationship between corporate brand core values and a trackrecord at Volvo (Urde, 1997, 2003). The three brand core values of Volvo – quality,safety, and environment – guided the internal and external brand building efforts.Another important source was our studies on monarchies as corporate brands (Balmeret al., 2006; Balmer and Greyser, 2006; Greyser et al., 2006), which gave unexpected andnew perspectives concerning brand track records, as did our continued research onbrands with a heritage (Urde et al., 2007). Here, we sought to explore and defineheritage as part of a brand’s past, present, and future identity. We defined track recordand identified it as one of the key elements of the “Heritage Quotient”, intended todistinguish a heritage brand: “By track record we mean demonstrated performance –proof – that the company over time has lived up to its values and promises” (Urde et al.,2007, p. 9).

Core values rooted in the value foundation of the organisation are beacons in themanagement of a corporate brand. In contrast, having values that are bland, toothless,or just plain dishonest is far from harmless – they may even be destructive (Lencioni,2002). In corporate branding, the organisation is a source for differentiation and thefoundation of values and promises (Knox and Maklan, 1998; Balmer and Gray, 2003;Urde, 2003). A declared set of values and promises (Ward et al., 1999; Knapp, 2000)without commitment from the organisation runs the risk of making peopledisillusioned (Senge, 1992; Collins and Porras, 1998). This in turn creates severeproblems for the leadership and for the credibility and legitimacy of the corporatebrand management (Ind, 2007; Sull and Spinosa, 2007) and corporate responsibility(Kay, 2006). Promises given, but not lived up to, will undermine and harm the customerrelationship (Fournier, 1998; Veloutsou, 2007) and debase the reputation (Fombrun,1996). The approach of this article takes into account both the external and the internalperspectives with a focus on a corporate brand’s core values and track record.

In the nascent area of corporate marketing – integrating corporate identity,corporate branding, corporate communications, and corporate reputation (Balmer andGreyser, 2006) – the “value of values” is one of the fundamental philosophicalquestions for academics and managers.

MethodologyThis paper is primarily based on case study research (Yin, 1989,1993; Gummesson,2005), applying a multi-method approach, common in qualitative research today(Gummesson, 2005). The study has evolved through this process of continuousinteraction (Yin, 1989, 1993) between the empirical fieldwork observations (level one)and the emerging theoretical concepts (level two).

Volvo (Volvo Car part of Ford Motor Company; and Volvo Group), IKEA, IBM, andScanpump (a business-to-business pump company), are the in-depth cases discussed inthis article. The case selection criterion was based on the richness in illustrating

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different aspects of core values with a track record. Each case was also selected tohighlight dimensions and issues associated with the management of corporate brandcore values in different situations. The Volvo case is a “longitudinal multiple casestudy” that the author has followed for more than a decade. Volvo is known for safety,but one of their other core values, environment, has been questioned both internallyand externally. IKEA, as a case, is of special interest because it is the only notstock-listed company in the study; and also, the founder, who wrote the core values, isstill active in the management of the group. The IBM case illustrates how radicalchange in the business environment puts pressure on long-held basic beliefs, and hownew core values evolve. Finally, the case of Scanpump illustrates the uncovering ofcore values based on an exploration of the external track record of the company. Here,the corporate brand was actually stronger externally than it was perceived to beinternally. A particular value related to service, perceived and appreciated by thecustomers, had previously been taken for granted by the company. This “uncoveredvalue” was part of the track record and an opportunity for communication supportedby internal reinforcement.

The review of the literature was conducted throughout the research process. Thestudy includes approximately 40 one-to-three hour in-depth interviews and more thantwenty internal meetings and workshops. Participating in these discussions weresenior executives, business area management, corporate brand management, humanresources, and other key people in the companies researched. The initial analysis ineach case study was to identify the values considered to be “core” by the casecompany’s own organisation and by its customers and non-customer stakeholders.This was followed by discussions about “the value of the values” from theorganisation’s perspective and from the customers’ and non-customers’ perspectives.Multiple sources of data were used, such as archival records, company internaldocuments on business strategy, positioning, brand strategy (e.g. brand platform and“brand books”), culture (e.g. “Our way”-type documents), market research, customerand employee surveys, and advertising (over time). Volvo, IKEA, and IBM haveextensive information on the external and internal perception of values, but notnecessarily linked or compared in the discussion of corporate core values. For example,IKEA has for a long time followed the inside-out approach, with the employees as theprimary force in building the brand. The annual global measurement VOICE isspecially designed to track the internal understanding and commitment to thecompany’s values and principles. It is also used as an “early warning system”revealing gaps in the perceptions of the day-to-day behaviour of managers and/or staffand the IKEA values. Volvo group have a world-wide tracking study called the “Thedash board”. In this article, an internal and external perspective on existing companyspecific research data was used to complement the description of the track records.

In the case of Scanpump, the background material was less extensive. Drawingfrom the emergent theory from the three other cases, the author took an active part inthe process of “uncovering” the corporate brand core values of Scanpump. Togetherwith the organisation, the company’s track record was mapped and core valuesidentified. The action research approach (Argyris, 1973; Perry and Gummesson, 2004)gave insights into “fit, work and relevance” (Glaser and Strauss, 1967) of the emergingtheory.

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Track recordThe idea and notion of a track record is found in language and in scientific disciplines.The overview of a track record is related to performance, emerging patterns,continuity, and contract as indicators of the overarching concept.

Track record as performance: In Longman’s dictionary, track record is defined as:“The best recorded performance in a particular track-and-field event at a particulartrack. The past achievements or performance of a person, organisation, or product”. Inmarket research, brand-tracking studies are used to collect information on a routinebasis over time, typically through quantitative measures of brand performance (Keller,2008). Examples of key dimensions in tracking studies are awareness, associations,perceived quality, and loyalty (Reichheld, 2003), which all relate to the equity of brands(Leone et al., 2006). Tracking studies are often used to provide consistent baselinecustomer information in order to facilitate tactical decision-making. Core values andtrack record are demonstrable support elements within the larger umbrella of corporatereputation. In communications and reputation research, Fombrun (1996) definescorporate reputation as:

. . . a perceptual representation of a company’s past actions and future prospects thatdescribes the firm’s overall appeal to all of its key constituents when compared with otherleading rivals (p. 72).

Track record as emerging patterns: In psychology, and more particularly in cognitiveresearch, it is known that the human brain searches for patterns. The human brain notonly receives information, but interprets it and patterns it. This ability and skill isexplored with the help of different tests, for example by asking a person to describe thepatterns coming out from a picture (Gardenfors, 2007). Pattern recognition is afundamental skill used for the understanding and prediction of complex phenomena(Slywotzky and Morrison, 2000). In strategy, one of the metaphors Quinn et al. (1988),pp. 15-16) use to describe strategy is that of “. . . a pattern in a stream of actions”. Theidea is that gradually successful approaches merge into a pattern of action thatbecomes the strategy of a firm. In the overview of eight various forms of strategies byQuinn et al. (1988), from the rather deliberate to the mostly emergent, the notion ofsome kind of pattern or path related to strategy is emphasised. History, reputation,organisation, and the concept of path dependency (Arthur, 1989) are examples ofreasons why a resource may be difficult and/or costly to imitate (Rumelt et al., 1991;Barney, 1996). Path dependence suggests that a firm may gain a competitiveadvantage (Balmer and Gray, 2000) based on the acquisition or development of aresource in earlier periods.

Track record as continuity: In the management of brands, continuity is described asa key criterion. At Volvo, DuPont, Nestle, Tetra Pak, and other brand-orientedorganisations (Urde, 1997, 2003), continuity is a defining element of their way ofmanaging their brands and business. In the literature, many researchers express theimportance of continuity in relation to different key brand management concepts, e.g.Keller (2008) on customer brand equity, Kapferer (2008) on brand identity, DeChernatony and Segal-Horn (2003) on service branding, Aaker (1991) on brand equityand brand values, Aaker and Joachimstahler (2000) on brand leadership, Knox andBickerton (2003) on the business process of delivering value, Merrilees and Miller

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(2008), on rebranding; Collins and Porras (1998) on purpose and visions, and Greyser(1999) on reputation and crisis management. Continuity in the management of brandsmust of course be balanced, or, as Collins and Porras (1998), eloquently phrase it:“preserve core and stimulate progress” (p. 112). Innovation and activation areparamount in the management of brands (Kapferer, 2008), but without continuity it ishard to imagine long-term corporate brand building.

Track record as contract: In the management of brands, a well-positioned brandstands for a promise that may also be described as an “unwritten contract”. Kapferer(2001), p. 169) argues that, for a brand to be a “point of reference” and have a brandidentity, it must be based on the consistent maintenance of a contract with itsconsumers/customers and other important stakeholder groups (Ind, 2007; Balmer andGreyser, 2006).

A corporate brand track record consists of core values and promises rooted in theorganisation, which are also perceived and appreciated by customers andnon-customer stakeholders over time. It is an emerging pattern of proven values andpromises forming a contract between the organisation and the outside world. A trackrecord reflects continuity, influences the customers’ expectations, and is part of acorporate brand’s identity.

Values of the corporate brandA brand can be described as a “cluster of values” (De Chernatony, 2001, p. 33). Themeaning of brands is influenced by the organisation’s attempts to “manage meaningsand values” in a cultural context (McCracken, 1993). Values related to a brand can belooked at from three viewpoints:

(1) Values related to the organisation.

(2) Values that summarise the brand.

(3) Values as they are perceived by customers.

Values related to the organisation. The arrangement of an organisation’s more or lessexpressed common values, supporting ideas, positions, habits, and norms converge togive a corporate culture its character (Urde, 2003). These often-deep underlyinginternal values (Harmon, 1996; Aaker and Joachimstahler, 2000; Burmann and Zeplin,2005; Ind, 2007) answer in principle the questions of who we are, how we work, andwhat it is that makes us who we are as an organisation. These values are created in acultural context with multiple sources (McCracken, 2005) and may also be describedquite simply as “rules of life” of the organisation (Gad, 2001). Consequently these arethe values that are internally regarded as important within an organisation. However,this may not be the case for the outside world (Berg and Gagliardi, 1985; Knox et al.,2000). For example, this form of values can often be attributed to the organisation’sorigin and culture, founder(s), dramatic events, leader(s), or other prominent persons.

Values that sum up the brand are often referred to as brand-essence, originally aterm coined by the advertising agency Ted Bates. This is used primarily to focus andguide the advertising and communication of (product) brands. The term brand essenceis used and expanded on by many authors (Macrea, 1996; Aaker and Joachimstahler,2000); Upshaw (1995), p. 25) sees brand essence as an inner value: “. . . the core of thecore – the brand essence”. Keller (2008) uses the term brand mantras: “. . . are short

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three to five word phrases that capture the irrefutable essence or spirit of the brandpositioning”. Randazzo likens in principle brand essence and core values, and elects tospeak of the brand soul: “The brand’s soul is its spiritual center, the core value(s) thatdefines the brand and permeates all other aspects of the brand” (Randazzo, 1993, p. 17).Kapferer (2008) uses kernel in his reasoning about the core of the brand. De Chernatony(2001) develops and creates an interesting distinction between core values andperipheral values. Other more or less analogous terms are for example brand code(Gad, 2001), meta-value (Linn, 1990), value words (Ind, 2007), core desire (Mark andPearson, 2001), and themes (Schmitt and Simonson, 1997).

In this article, I use the term corporate brand core values and define them asmindsets rooted within an organisation and the essential perceptions held bycustomers and non-customer stakeholders defining the identity of a brand. Thesevalues influence both the internal and external sides of the brand. The key questionanswered by core values is “what the corporate brand stands for”. The core values areoverarching concepts rooted in and distilled from the organisational values andresonating with the customers’ perceived values.

Values as perceived by customers. McCracken (1993, p. 125) states that: “Brands havevalue, it turns out, because they add value”. Perceived customer values are often moreexplicit (Kapferer, 2008) and should not be confused with core or organisational values.The discussion in De Chernatony et al. (2000) about added value provides a goodoverview and specifically demonstrates the lack of terminology consensus. JWT, theadvertising agency, argues that added values include value proposition and functionaland emotional discriminators. Customer value is the term that Knox and Maklan (1998)use to express what the customer is prepared to exchange for a brand. Added value isalso used in other contexts: Itami and Roehl (1987) uses added value to explain durablecompetitive advantages from a strategic perspective. When Jones and Morgan (1994)speak of adding value, they are talking about the process of developing brands.

Uncovering the core valuesUncovering a brand’s track record is an exploration of values related to the differentidentities of the corporation. A brand may also be described as a “cluster of identities”(Balmer and Greyser, 2002; Stuart, 1999 for literature overviews). My framework (seeFigure 1) makes a distinction between different types of values and different types ofidentities (Urde, 1997; 2003). It makes the point that corporate brand building is anongoing interaction and negotiation of meaning (McCracken, 2005) and values betweendifferent identities: the identity of the organisation, the identity defining the corporatebrand, and the identity as perceived by the customers and other stakeholders (Urde,1997, 2003). It builds on the idea that a corporate brand has a foundation that calls forinternal brand building with a focus on aligning behaviour (e.g. Balmer and Gray,2003; Hatch and Schultz, 2003; Vallaster and de Chernatony, 2006), shared values (DeChernatony and Segal-Horn, 2003), and commitment (e.g. Senge, 1992; Burmann andZeplin, 2005). The business idea, the mission (or purpose), and the vision are importantpillars of the organisation (Collins and Porras, 1998; Ind, 2007).

External corporate brand building (Knox and Bickerton, 2003) has a focus onpositioning. With the core values as themes, the corporate brand is positioned in themarketplace vis-a-vis competitors (Hooley and Saunders, 1993; Grant, 1995; D’Aveni,

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2007), and in the hearts and minds of the customers (Ries and Trout, 1986). Customervalues (or extended values) are expressions of the core values, used to appeal moredirectly to the target groups.

The core values are placed in the middle of the framework defining the corporatebrand’s identity, and supporting the brand promise. Their role is to guide both internaland external brand-building efforts. They are like the melody of the brand that followsthrough all of the product and service design, supporting behaviour from theorganisation, and communications. When viewed together, organisational values,brand core values, and perceived values form the value foundation of a corporatebrand. Over time, an established corporate brand builds its track record.

With the previously mentioned overview of track record, values, and identities ofthe corporate brand, the discussion now moves to the four company cases.

Figure 1.Brand orientationframework

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Uncovering core values: company casesVolvo, IKEA, IBM, and Scanpump are established corporate brands. These companiesrepresent different industries but they have a similar brand structure with a clear focuson their corporate brands. The cases examined here are intended to illustrate and giveinsights into the relationship between and the uncovering of corporate brand corevalues and track records. The companies have been studied over time in order tocapture the dynamics of core values forming a track record.

The analysis of the cases is based on the theories that an established brand hasfunctional, emotional, and symbolic dimensions (Levy, 1959; Solomon, 1996; Kapferer,2008). In the discussion of perceived customer values, there is strong support for theidea that a brand ideally needs to appeal to more than the functional dimension, andideally to all three dimensions. In the framework (see Figure 1), the core values aredescribed as themes for extended values speaking and appealing more directly to thecustomers and non-customer stakeholders. The core values are also linked to theorganisational values with an internal significance and meaning. When uncovering acorporate brand’s core values, the approach in this study is to find and define valuesthat cover these dimensions. The functional, emotional, and symbolic content of aparticular corporate brand varies, but in principle all dimensions need to berepresented in the core corporate brand identity.

An alternative, but maybe not so different, way to view the role of core values isinspired by classical rhetoric (Urde, 2005). In an argumentation, the speaker is advisedfirst to present facts and evidence, then to build confidence and convince by characterand personality, and finally to select an argument that evokes a feeling (Corbett andConnors, 1999). The speaker persuades (Hedlund and Johannesson, 1993) through theuse of logos (logical arguments), ethos (character and personality), and pathos (feelings).In parallel, the core values and the promise (or covenant, see Balmer and Greyser, 2006)of a corporate brand may be viewed as a set of arguments with an intention to evoke afeeling or reaction among the audience(s). In the framework (see Figure 1), the corevalues and the promise are placed in the centre, underlining their role to sum up theidentity of the brand and define the values the corporate brand stands for. Together,the core values supporting the promise thus will cover the different key dimensions ofthe corporate brand’s identity. Following this line of reasoning, a track record of acorporate brand would have core values operating in parallel and covering these threedimensions.

Volvo: the evolution of a corporate brand’s track recordFor an established company, the quest to uncover its track record often becomes anodyssey into the organisation’s history, heritage, and origins. This is clearly the case atVolvo (Urde, 2003), where it was possible to go back to the thoughts of the founders –Assar Gabrielsson and Gustaf Larsson – about safety in the so-called “Volvo salesmanual” from the early 1930s:

An automobile is made by and for people. The basic principle for all manufacturing is andmust remain: safety . . . on this point, we are proud to be conservative. And even in the futurethis will remain our guiding light.

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This excerpt from the sales manual can be seen as both an early expression of Volvo’smission – i.e. to develop safer cars and other vehicles – and as the embryo of a centralcore value. In the same early publication, strict quality principles for the design,production, and control of Volvo products were also stipulated. From the beginningVolvo had quality as a theme for communication, and the primary perceived customervalue and image was solid, durable, quality products. With time, Volvo gained areputation and relationships based on this promise and brand core value.

In conjunction with an exhibition in 1976 in Washington, DC, Volvo displayed asafety concept car that attracted considerable media attention. This occasion was abreakthrough for Volvo’s positioning, and a defining moment for the brand promise“safety”, now highly visible in product and communications. However, the prevailingattitude in the car industry was that safety could not be used as an argument for sellingcars. As far as Volvo was concerned, this meant that the company – essentiallywithout any direct competition – could focus on safety, which in hindsight can be seenas a first-mover advantage. Volvo proposed a new way of evaluating cars, thuscreating a new sub-category and position around the concept of safety (see Figure 2).

When safety became a theme for Volvo Car in the mid-1970s, the results of crashtests, crash test dummies, and descriptions of the safety details of designs becamerecurring elements of communication. The tag-line was: “Drive safely. Volvo”. Thearguments in favour of safety differed markedly in both form and content fromtraditional car advertisements. “When did you last hear a car salesman speak aboutsafety?” was an example of a headline in a car advertisement by Volvo Car thattargeted the low interest in safety within the car industry. Volvo wanted to elevatesafety as an important aspect in the choice of a car in order to achieve a change inattitudes. According to SvenAke Stahl, manager of Global Marketing at Volvo, theintroduction of the seat belt as a standard feature in the US car market was not a

Figure 2.The evolution of the Volvobrand’s track record basedon the brand core values ofsafety, quality, andenvironment

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customer-driven decision, but rather something that Volvo carried out based on its ownconvictions. In conjunction with another innovation in the area of safety much later,Volvo referred back to the opposition to seat belts: “Volvo introduces daytime runninglights (people once laughed at seat belts too)”. Rational arguments are directed at thetarget group’s common sense, while at the same time there was an emotionalundertone. An advertisement with a car model from Volvo surrounded by crash testdummies included the introductory text: “It takes a lot of dummies to make a car forpeople who think”.

The brand core values can also be traced to the company’s physical products, i.e. theproduct range, product development, and product design. Examples of Volvo’s safetytrack record (Volvo Car, 2008) are: reinforced passenger compartment (1944), paddeddashboard (1956), seat belts for the front seats (1957), forward and rear collision zones(1966), collapsible steering column (1966), seat belts for the back seats (1967), sidecollision protection (1973), energy-absorbing bumpers (1974), side air bags (1994), airbags for the side windows (1998), rollover protection (2002), a blind spot informationsystem (2004), and door mounted inflatable curtain (2005). Safety has been and remainsa way of thinking at Volvo: “How does this design affect safety?”.

The Volvo Corporation adopted its third brand core value, “environment”, in 1972.This core value was disputed within Volvo from the outset, according to Hans-OlovOlsson, former CEO of Volvo Cars, since the products that the company manufacturesand markets undeniably have a negative environmental impact. When Volvo adoptedenvironment as a core value it related to issues such as workplace environment,emissions from factories, and the ban on asbestos in brake pads. The interpretation ofthis core value within Volvo has evolved to “care for the environment” and “care forman”. Following the general debate and growing concern for global warming,environment has today become a salient argument. This brand core value had its trackrecord within the organisation and is now taking a more prominent place in theexternal communication. An issue for Volvo Cars is to have environmentally saferproduct lines in the future in order to live up to its core values (Volvo Cars and VolvoGroup share the Volvo brand name and its core values. The Volvo Group haveintroduced several “firsts” strengthening the brand’s core value environment such ashybrid engines for heavy-duty vehicles). Environment has importantly followed theevolution of the core value of safety, i.e. from a latent internal core value to a theme forcommunication and extended values. This situation illustrates how core values can bean expression for an intention and a part of a desired future identity.

IKEA: the founder’s worries about the core valuesThe IKEA core values permeate the corporate culture. The case illustrates that nomatter how strong a track record a core value may have, it has to be lived up toconsistently in order not to lose its substance.

At IKEA, The Testament of a Furniture Dealer (IKEA, 1976) is an importantinternal document that lays down the idea, principles, and core values of theorganisation. This booklet is written in the personal, down-to-earth, andstraightforward tone typical of the founder Ingvar Kamprad: “To be a successfulentrepreneur you must: Have a business idea, preferably a good one and stick to it”(IKEA, 1976, p. 1). IKEA has a value-driven culture and Kamprad gives one of the

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reasons why this is important: “The competitors can copy every part of your business,but not the company spirit” (IKEA, 1976, p. 1).

The values in the IKEA Testament still guide the organisation and are also intendedto do so in the future. Ingvar Kamprad believes in “setting a good example”, and thereare numerous stories told and retold in the IKEA organisation about how the founderhimself lives and practises the values. Kamprad speaks of IKEA as “The family” and,to ensure an ownership structure and long-term independence, the IKEA Group has,since 1982, been owned by a foundation. The mission, written in typical IKEAdirectness, is “To create a better life for the many people” (IKEA, 1999, p. 10), and thebusiness idea is, “. . . to offer a wide range of well-designed, functional home furnishingproducts at such low prices that as many people as possible will be able to afford them– and still have money left” (IKEA, 1976, p. 10). These are intended is to remainunchanged. The three defining IKEA values: “common sense and simplicity”, “dare tobe different”, and “working together” are to support the mission of IKEA (see Figure 3).

Common sense and simplicity has been a part of the IKEA identity and culture fromthe start in 1943. Kamprad explains the essence of this mindset: “Very often theanswers to many problems start with common sense and simplicity. This meansfinding the right solution at the right costs” (IKEA, 1976, p. 1). In the Testament,Kamprad warns against bureaucracy, indecisiveness, and excessive time spent onplanning. Simple habits, simple actions, and “a healthy aversion to status symbols” arepart of “The IKEA way”. The current CEO and other people holding leading positionsat IKEA have worked as assistants to Ingvar Kamprad as a way to infuse the valuesand spirit of IKEA. Common sense and simplicity guide the operations, the productdesign, the customer relations, and both internal and external communications.

Dare to be different is part of the company’s heritage and can be traced back to thefounding of IKEA. The business model and approach of IKEA has a track record ofrevolutionary concepts and innovations that has influenced the home furnishingindustry. In the Testament, the importance of always asking the simple question

Figure 3.The track record of theIKEA core values

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“why?” is underlined in order to encourage the organisation to stay dynamic andforward thinking: “Challenging the accepted way is not just about tackling the bigissues, it is also about finding new ways to solve small everyday problems that we facein our daily life” (IKEA, 1976, p. 1).

In an internal IKEA film (2005), Ingvar Kamprad expresses his worries that “daringto be different” is not what it used to be and that the organisation needs to work harderto live up to this value. IKEA is facing strong competition, and for this value to staytrue, the consumers must continue to perceive IKEA as different.

Working together became a third core value in 1956 when, for logistical reasons,IKEA designed furniture for flat packs and self-assembly. The simple but powerfulidea is summed up: “You (the customer) do your part. We (IKEA) do our part. Togetherwe save money” (IKEA, 1999, p. 32). This core value captures the relationship IKEAstrives to have with its customers (and non-customer stakeholders). Working togetheris also a guiding light for how people within the IKEA organisation are expected tothink and behave.

IBM: core values and radical changeIn the early 1990s, IBM experienced financial turmoil. The IBM situation illustrateshow radical change in technology and the business environment forces a company torethink its business model, strategies, operations, culture, and long-held values. IBMfound itself “. . . in one of those transition phases when old rules no longer apply andthe new ones haven’t fully emerged”, according to Samuel J. Palmisano, Chairman andPresident (IBM, 2003, p. 1).

The Basic Beliefs of Thomas Watson Sr, IBM’s founder, had guided the companythrough many decades. A popular saying, “nobody has ever been fired for buying‘IBM’”, reflected the strength of the corporation’s reputation. IBM was also known to bea value-based organisation. To become a true “IBMer”, one was expected to live up tothe highest moral and ethical standards, being a role model in both business and insociety, explains Jorg Winkelmann, VP Communications IBM. After 25 years withinthe company, you were considered to be a “real blue-blooded IBM trooper”. Today, thesituation is very different: half of the workforce has been with the company for fewerthan five years. IBM’s value proposition has moved from products to solutions andconsulting.

The re-examination of the company’s core values started in 2003, “. . . not to revivethe spirit of our past century, but to get in shape for an entirely new one” (IBM, 2003, p.1). Inspired by jazz music’s jam sessions – where musicians improvise, pick-up ontunes, and find melodies together – IBM orchestrated a company-wide intranet sessionon values. All the employees were invited to discuss what defined IBM and the“IBMers” in forums. Examples of topics for these forums included: “What values areessential to what IBM needs to become?”, “Is there something about our company thatmakes a unique contribution to the world?”, and “When is IBM at its best and whatmakes you proud to be an IBMer?”. The outcome in terms of proposals, ideas, andvalues were structured and distilled and finally prioritised with the help of theorganisation. The bottom-up approach gave an understanding of what values wereconsidered to be core across the organisation.

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The result was that the three original IBM Basic Beliefs “Excellence, customersatisfaction, and respect for the individual” were replaced by other values (seeFigure 4).

Excellence had lost its credibility and meaning. It was no longer the way IBMwanted to present itself. Some even felt it sounded almost arrogant. The new valuereplacing the one considered to be obsolete was innovation. It is described as“Innovation that matters – for our company and for the world”. Innovation is new as acore value, but it has a solid track record supported by a long series of pioneeringinventions, recognised by Nobel prizes and resulting in groundbreaking solutions thecompany brought to fundamental challenges in business and society. SamuelJ. Palmisano, CEO IBM, describes innovation as the “single, focused business modelthe company is aligned around” (IBM, 2003, p. 34).

A comment from the jam session was: “The term ‘customer’ implies a productrelationship, while ‘client’ represents a professional relationship” (IBM, 2003, p. 21).The value customer satisfaction has now evolved into “dedication to every client’ssuccess”. At IBM, “client” was considered to be a better way to describe the newbusiness relationship they are striving to build. Internally, this is viewed as more thana subtle distinction of words. The business model of IBM today is based upon theunderstanding that customer success is not just a function of product performance, orshort-term transactions, but rather of technology and business insight, which buildlong-term relationships.

Finally, “respect” was replaced by the new core value “trust”. One reason why thisstill important value was no longer considered to be core was that it was perceived assomewhat reactive and internally focused. It had also accumulated negativeconnotations after the turmoil within IBM during the 1990s when some employeesfelt that this value had been compromised. Trust and personal responsibility in allrelationships is the more pro-active and externally focused description of the new corevalue.

Figure 4.“The evolution rather thanrebirth” of IBM’s corporatebrand core values

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Working with core values the way IBM does is more open, modern, and, in a sense,more democratic. The values are not written by the chairman, but emerge with inputfrom the organisation. This makes an important difference in the acceptance andcommitment to the values. “It is not static but rather an ongoing process. It’s anevolution rather than a rebirth of IBM’s core values. We are working hard to close thegaps between our aspirations and the realities and experiences as seen by ourcustomers” (Jorg Winkelmann, VP Communications IBM).

SCANPUMP: customer-based insights into core valuesScanpump, a well-established business-to-business company producing pumps for thepulp and paper industry, wanted to revitalise its corporate brand. The uncovering ofthe corporation’s track record revealed a potential core value seen and appreciated bythe customers. It became a “new” core value describing the relationship dimension ofthe corporate brand.

The company undertook a process to examine those initiatives that their customersand stakeholders have appreciated and valued over the years, and that have beenparticularly successful in the marketplace. Examples of sources in the first step of theprocess were internal documents such as existing market research, customer surveys,and even customer complaints dating back in time. A number of key customers andindustry experts were interviewed. The primary purpose of uncovering perceivedvalues was to reveal patterns of values that could be traced back in order to provide abasis for future consistency. The patterns turned out to be a blend of values that weregrouped as primarily relating to the product, service, or solutions, to the relationship,or to symbolism.

The research showed that the company’s pumps were appreciated for theirdurability: this was a core value in the company’s existing brand platform. Theanalysis confirmed “durability” as a true core value in the sense that it had anexternally perceived and an internally rooted track record.

However, the examination also revealed that customers – knowing much aboutpumps themselves – appreciated speaking with true pump specialists. Duringworkshops, the track record of Scanpump was discussed with input from salesrepresentatives, service technicians, marketing people, and top management. Theuncovering of the externally held corporate brand track record led to a second corevalue defined as “specialists serving specialists”, encapsulating the relationshipdimension of the Scanpump brand. It was found to capture the reciprocal relationshipbetween the company’s specialists and the customers’ specialists.

The “new” core value helped to reposition Scanpump and move the business moretowards solutions and service in line with the business strategy. The company facedincreasing competitive pressure from low-cost producers. To differentiate and to staycompetitive, the management saw the need to find and build associations beyond theactual, physical product with its functional values.

At Scanpump, a first action was to initiate a technical training programme forservice personnel. The focus was to ensure that day-to-day customer interaction andtechnical discussion with the customers at the mills lived up to the high standards. Therevealing of “specialists serving specialists” also resulted in a review and alignment ofinternal and external communication with this core value as a theme. For example, a

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series of customer cases to use in advertisements in industry magazines wasdeveloped, illustrating the Scanpump values (see Figure 5).

The third core value defining Scanpump’s corporate brand’s identity was the resultof a management decision. The company holds a second position in the business ofpulp and paper pumps, and the management wanted to signal their ambitions tochallenge their market leading archrival. “Challenger” is to be considered the desiredimage the management wants to communicate and the position they aspire to have inthe international market. An analogue from decades past could be the Avis “We tryharder” advertising campaign supporting the company’s efforts vs Hertz.

Lessons from the casesThe four cases as a group illustrate and reinforce the importance of dedication,perseverance, and stewardship in the building of internal commitment to the corporatebrand values. Matching the internal perspective with the customers’ perceptions of“values delivered and promises kept” is an occasion on which one is reminded of thestate of thinking in the real world. In my view, it is never possible for an organisation toown a core value – only to respect, believe, and adhere to it. If one would talk aboutownership of values, it is a shared ownership with the customers, employees, and otherkey stakeholders, such as partners and dealers. Core values are mindsets that over timeweld the organisation together with its brand and customers. Values of this staturestand for continuity and shape the corporation’s reputation. The time element isnotable: as illustrated by the cases, values may stretch over decades or even centuries(in our study of monarchies, we noted values stretching over a millennium). Theprocess of uncovering and defining the core values of a corporate brand is aboutidentity and there will be strong emotions involved. An ongoing critical discussion isprobably necessary to develop and maintain their relevance and guiding role. Inprinciple, values that do not evoke feelings might indicate that they also lack meaning.

Figure 5.The core values trackrecord of Scanpump

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Here are five insights into core values illustrated and reinforced by the companycases:

(1) Core values evolve. True core values are essential to, and even inherent in, thecorporation. Sometimes values are literally carved in stone – such as the Johnson& Johnson (Greyser, 1982) well-known credo at the headquarters’ entrance.However, core values are dynamic and their meanings (McCracken, 2005) evolveover time. In the management of a corporate brand, it is vital to monitor and followclosely the evolution of the core values and what they stand for. The evolution willtake place, and when it occurs in small steps it may be particularly difficult toobserve. To avoid discovering that the meaning of a core value has deteriorated,becomediluted, faded away, or just lost its substance andcredibility, managementneeds to give constant attention to the meaning of core values.

(2) Core values are rooted. True core values are mindsets and part of the corporateculture. A value-driven corporate brand finds its strength, source, andfoundation in the organisation. When it comes to the level of commitment(Burmann and Zeplin, 2005) and passion for core values and what they standfor, there will never be a fully dedicated total workforce that just “wants it andwill make it happen” (Senge, 1992, p. 219). Commitment is a state of mind thatleaders need to encourage by their own authenticity in living, acting, andspeaking about the core values (Ind, 2007).

(3) Core values are built brick by brick. Every time the customers’ expectations aremet, the track record of a core value is reinforced and grows stronger. The sameis true when the organisation and its management stand up to the core values,especially in difficult times. A systematic approach documenting andcommunicating milestones related to a brand’s track record adds tocredibility, such as the Volvo lists of safety innovations. This helps to set thepriorities and challenges the organisation to live up to the brand core values.

(4) Core values are challenged. Core values are broader concepts that summarise themost important dimensions of a corporate brand. They differ from customervalues or extended values, i.e. values and benefits that are used to speak moredirectly to the customer with the purpose of differentiation. Even the strongestcore values will be challenged internally for “not driving sales” or “not being onthe top of the customers’ list of expectations” (Bengt Kohlin, Multi BrandDirector, Volvo Group). What is probably happening is that extended values arebeing confused with core values. Management must be prepared to support andprotect the core values by explaining the overarching role of core values in theidentity and track record of the brand.

(5) Core values support the promise. Together, the core values appeal to reason andto emotions, build a relationship, and evoke feelings. Carefully chosen and truecore values support the promise of the corporate brand. “Respect, Integrity, andExcellence” were three core values stated in Enron’s 2000 annual report. Thesevalues proved to be hollow when put to the test in conjunction with thecompany’s crisis and fall (Lencioni, 2002). The strength of a brand is determinedby the promise made and the promises kept. Management must align the corevalues with the promises and vice versa.

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True, aspirational, potential, or hollow core values?The uncovering of core values is a process of looking back in time, reflecting on thepresent situation, and planning for the future. Based on the experiences from Volvo,IKEA, IBM, and Scanpump, it is clear that not all values are core. Values vary to thedegree in which they are rooted in the organisation and are perceived and appreciatedby the customers and non-customer stakeholders. These two dimensions (“Internallyrooted” and “Externally perceived and appreciated”) are used here to draw a matrixfrom which four types of core values emerge – which I term true, aspirational,potential, and hollow (Figure 6):

(1) True core values are internally rooted in the organisation and are perceived andappreciated by the customers over time. A true value is ingrained in theorganisation’s culture (Burmann and Zeplin, 2005; Ind, 2007) and proven by aninternal track record. It is a value and mindset that is lived by the organisationand that has acquired a meaning internally (Mitchell, 2002). The customers findthese values to be credible and defining for the corporation and its brand. TheVolvo core value “safety” may be defined as true in the sense that it has a solidtrack record within the organisation, it is proven by product design, expressedand communicated both internally and externally, and is found to be bothcredible and relevant to many customers (and even non-customers) in the targetgroups. A true core value must never be taken for granted. It must be nurtured,protected, and proven over and over again, as illustrated by the IKEA value“dare to be different”.

(2) Aspirational core values have a meaning internally and are rooted in theorganisation, but are not perceived by the customers (Lencioni, 2002). They arepart of the value foundation of the corporate brand, but for different reasons

Figure 6.The core value grid

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have not yet established a track record in the minds and hearts of the customers.The new IBM core values are aspirational, since they are rooted in and reflectwhat the organisation wants its brand to stand for in the future. The task forIBM is to communicate these values to its customers and to build a track recordthat is based on both performance and perception.

(3) Potential core values are recognised and appreciated by the customers, but arenot part of the corporate brand identity as defined and/or understood by theorganisation. Scanpump’s customers had for a long time appreciated technicaldiscussions with the company’s experts and service people. At Scanpump, thesignificance placed by the customers on these formal and informal discussionswas not fully understood, nor were they related to efforts at brand building. Thedefinition of the core value “specialists serving specialists” wascustomer-driven, but resonated with the Scanpump way of working. Theimplication for management was to communicate this “new” value internally,making it rooted, and to follow up with external communication.

(4) Hollow core values lack both the internal foundation in the organisation and theappreciation and credibility as perceived by the customers. These values aretermed “hollow” because they have no real substance, such as the ill-fatedEnron values. Within this category of core values, some are just politicallycorrect or smooth words that have found their way into the lexicon of acompany’s corporate communication. These values float around, actuallyobstructing the communication effort. There might also be values that simplyare not core, but rather reflect a “minimum behavioral standard” or “apermission-to-play” type of value (Lencioni, 2002, p. 114). Hollow values of thiskind not only put the credibility and authenticity of the corporation’s reputationat stake; they also risk debasing and disillusioning the organisation’scommitment (Senge, 1992; Sull and Spinosa, 2007). However, some values thatfall into the hollow category may be desired by the management with a seriousintention to make them become true.

For a company, introducing a new core value is a demanding task, but may benecessary in a changing market environment or competitive situation. This isillustrated in the Scanpump case by the choice of “challenger” as part of the company’sdesired position, and a changed business model (Knox and Maklan, 1998) modelmoving more toward solutions and service.

How to avoid hollow values: implications for academics and managersIn this article, I have focused upon uncovering the corporate brand’s core values.Looking at a corporate brand’s track record urges us to think about the valuescompanies and organisations stand for and what they promise. We need to comparethese insights with the values customers and non-customer stakeholders associatewith the corporate brand and expect from it over time.

From an academic perspective, the study is intended to deepen the understandingand knowledge of corporate core values. The fieldwork cases illustrate the dynamicsand evolutions of core values leading up to a structured discussion of how to identifydifferent types of core values. Unlike traditional tracking studies focusing on

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(consumer) perceptions of key (product) benefits, this study is about corporate brandswith a focus on the core values. The perspective is both internal and external, overtime, and with a strategic long-term view on the corporate brand and its valuefoundation. A direction for future research could concentrate on methods ofmeasurement and quantification of the corporate core brand values.

From a managerial perspective, building true (and avoiding hollow) corporate corevalues is a challenge for the leadership and the whole organisation. I put forward thecore value grid and its implications as a contribution intended to aid those who areresponsible for the management of a corporate brand. Having categorised differenttypes of values, the task is to build true corporate core values. Here are someconcluding suggestions for management actions of what to stop, continue, and startdoing:

Stop: Hollow values lacking substance and significance both internally andexternally should be the first ones to be weeded out. No decision relating to core valuesshould be taken lightly, since there is always a risk of terminating a valid one. In thecategory of hollow values (Kapferer, 2008), there might also be the desired ones, butcurrently only “desired” by the management. That is to say, values that currently lackresonance in the organisation (Balmer and Greyser, 2002 on “desired identity”). Theintentions and possible future role of these values need to be examined closely. If theyare in fact found to lack serious backing, they too should be abandoned.

Continue: A process of uncovering the corporate brand’s track record may confirmtrue core values; nevertheless, they must not be taken for granted. On the contrary,additional resources should probably be invested in the internal and externalbrand-building process to fortify them. Aspirational values are rooted internally, butnot perceived by the customers as core. Not all aspirational values do (or will) resonatewith the customers. In this situation, the aspirational values should continue fulfillingtheir role as internal values important to the organisation. However, if such a value alsorings true with the customers, this constitutes an opportunity for communication andconsequent stronger strategic utility for the value.

Start: A value perceived and appreciated by the customers but neglected or takenfor granted, or not perceived, by the organisation raises questions. If these potentialvalues are considered to be core to the corporate brand, management needs tocommence a process of working with them as such. This is also the case with desired oraspirational values that are considered to define the corporate brand in the future.

My experience, and belief, is that a corporate brand cannot be stronger externallythan it is internally rooted in the organisation. Hollow, un-rooted brand core valueschosen without seriousness risk undermining the foundation of the corporate brand.The corporate brand promise then becomes nothing but a slogan.

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About the authorMats Urde is an assistant professor and Head of the Brand Management Research Program atLund University, Sweden. As a strategic brand adviser he has worked with Ericsson,Scandinavian Airlines, Volvo and The Swedish National Symphony Orchestra. For tenconsecutive years he as been on the jury for the Electrolux Brand Award and is the founder of athink-tank on business-to-business corporate branding. His research interest is on linkingbusiness strategy and brand strategy with a focus on values, structure and internal branding. Heis the author of Brand Orientation (1997). Mats Urde can be contacted at: Mats.urde@brandorientation.se

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