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TUM School of Management and the NGO “Wertekommission” conduct survey on executives’ values and assessment of digitization
In cooperation with “Wertekommission ‒ Initative Werte Bewusste Führung e.V.” (Commission on values ‒ values and conscious leadership initiative) Prof. Dr. Claudia Peus , Dr. Armin Pircher Verdorfer and Dipl.- Psych. Maxim Egorov from the Chair of Research and Science Management and the EEC (Executive Education Center) at TUM School of Management have conducted a new survey on German executives’ ethical values with a special focus on challenges created for leadership by the digital transformation of enterprises and markets.
The “Wertekommission ‒ Initative Werte Bewusste Führung e.V.” is an association of and for executives in Germany with the aim of fostering ethical values in businesses and companies. The six core values that the association strives to promote therein are trust, responsibility, integrity, respect, courage and sustainability. The commission has been monitoring the development of these core values among executives since 2005, this year’s survey depicts the developments at the intersection of economy and society for the 9th time.
The survey itself is a short but comprehensive analysis of 571 executives’ opinions on the aforementioned 6 core values as well as on the possibilities and risks digitization poses for German society as a whole, the German economy, as well as for the executives’ companies and their own positions. About 83 percent of the participants are members from the middle and top management, around 17 percent belong to the lower management.
The key finding of the first part of the survey, the assessment of the 6 core values, shows that the executives see trust with 32 percent as the most important core value. In its second part, the participants were asked, based on the Competing Values Model (CVM) of Kim Cameron and Robert Quinn, which of the following four values and models they deem the most important: the Human Relations Model focusing on human resources development, the Open System Model focusing on growth and resources acquisition, the Internal Process Model focusing on stability and control, or the Rational Goal Model focusing on productivity and efficiency. 41 percent of the sampled executives agree on the Human Relations Model.
In the third part of the survey, the participants provided information on their views on challenges and risks of digitization. 51 percent share the opinion that the digitization is a great opportunity for the German economy, still 43 percent see the development more as an opportunity than as a risk for the German society. By the same token, 47 percent think that the German society as of now is not at all, or not prepared for the developments to come. About 44 percent of the participants remain unsure whether or not digitization will foster or weaken their positions as executives. Finally, asked which core values they deem the most important leadership value against the backdrop of digitization, responsibility comes in first with 28.5 percent, followed closely by trust with 26.8 percent.
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