Certified Hospitality Manager (CHM) Practice Exam

What is a value statement?

1. A list of employee roles

2. A declaration of financial projections

3. A set of standards that guide operations

4. A summary of marketing techniques

The correct answer is: A set of standards that guide operations

A value statement is essentially a set of standards that guide operations within an organization. It encapsulates the fundamental principles and beliefs that a company stands by, providing clarity on what is expected in terms of behavior, decision-making, and the overall workplace culture. This statement serves as a compass for employees, helping them understand the core values that drive the organization's mission and strategic direction. By establishing these guiding principles, a value statement plays a crucial role in aligning the behaviors and actions of all team members, fostering a unified work environment and strengthening the organizational identity. It focuses on the intrinsic beliefs that the company wants to maintain, influencing how business is conducted, how customers are treated, and how employees interact with each other and the organization at large. This is why C is the most accurate definition of a value statement.