Managing by values: Cultural redesign for strategic organizational change at the dawn of the twenty‐first century

The system of beliefs and values that shaped the model for management and organizations during the twentieth century is just not good enough today. In order to keep a business functioning well and competing successfully in markets that are increasingly more global, complex, professionally demanding, constantly changing and oriented towards quality and customer satisfaction a new model is needed. In this paper, we will propose that both management by instructions and management by objectives today give notoriously inadequate results. By contrast, description of a new approach, labeled management by values (MBV), seem to be emerging as a strategic leadership tool. The paper outlines this approach and discusses the implementation of MBV as a tool to redesign culture in organizations and prepare them for the next millennium.