Unveiling corporate values in a crisis-prone world: a cross-cultural study

Abstract

Purpose The purpose of this paper is to compare corporate values of companies that exist in a volatile, uncertain, complex and ambiguous environment via semantic network analysis (SNA) approach. A secondary aim is to juxtapose these values with the expected values in turmoil from a cross-cultural perspective. Design/methodology/approach The paper examines values statements of companies in Fortune 500 rankings of Turkey and the USA in 2016. The data regarding expected values in turmoil are obtained through expert appraisal from 20 public relations scholars from each country. SNA method is applied in both stages of the study. Findings Findings show several common values for Turkish and American companies (e.g. customer focused and honest). However, Turkey reflects developing country values, such as “development oriented,” while American companies have post-materialist values, such as “respectful.” According to academicians’ perspectives, ideal corporate values should represent long-term orientation and relationship building. Practical implications To the best of the authors’ knowledge, this is the first comparative study to take a network approach in the systematic examination corporate values in a business world that is threatened by crisis. Therefore, the results will generate implications for the corporate literature in addition to providing guidelines for corporate communication professionals. Originality/value This study is innovative in both context and methodology, comparing corporate values that exist in different sociocultural contexts via SNA, an approach which allows in-depth cultural analysis based on quantitative data.