“At this moment, America’s highest economic need is higher ethical standards — standards enforced by strict laws and upheld by responsible business leaders.” George W. Bush, July 9, 2002

When was the last time you saw a corporate statement of values without the word excellence in it? Companies big and small claim a devotion to excellence as one of their virtues. So, if it is a core value to so many, why are there so few excellent companies?

Values are often confused with aspirations. Companies aspire to excellence but this is not the same as a value. Many aspire to excellence; few live it. Many aspire to great customer service; few deliver it. Many aspire to best practices; few achieve them.

The distinction between values and aspirations is important. Values are at the center of what we really believe, who we really are and what we really do. Aspirations are what we wish we were. Values determine how we act in our day to day lives at work and at home. They influence our decisions, our attitudes, our sense of right and wrong, how we treat other people, even whether we show up for work on time. Aspirations are often what we wish we did.

Values seldom change and are seldom violated. They surface when we are faced with choosing between right and wrong, good and bad. We don’t think about them but we choose according to them. We give up our seat on the bus to someone older; we turn in the wallet full of cash to the police; we let customers return defective merchandise; we pay our bills on time; we hold open doors for others; we are open and forthright with our shareholders; we do what is right even when nobody is looking.

Values can’t be delegated or taught but they can be followed. Once they are articulated and embedded in the culture of the organization, those employees who may have otherwise decided differently may now decide to adopt those values (at least while they are at work). With the values of the organization identified, staff recruitment can be aligned to ensure that new employees are similarly inclined.

If the statement of values does not reflect the true values of the organization, it will be ignored. If the leaders of the organization do not demonstrate the stated values in their every day actions and decisions, the stated values will be replaced with the values demonstrated. The true values of the leaders of the organization will be inevitably passed on to the troops whether intended or not.

So, if you have the word excellence in your corporate statement of values, what evidence do you have to prove that it belongs?