The forex exchange exists to translate the value of one currency from one environment to another. I don’t really understand how they arrive at the value of US$1 being different from one place to another.
But, the fact stands; a US$1 in the U.S. does not bear the same value in South Africa. ‘Value translation’ goes beyond trading currency. One organisation will value something more than another. One person will esteem one value over another.
What does this mean?:
It means that for your organisation to have strong collaborations you must recognize the value that the other places on the same things. You must have an understanding of the ‘value priorities‘ of the other.
Thus, your communication, strategy, the very foundation of your collaboration must be sensitive to your partner organization and subsequent agreements drafted along the lines of their value.
I am not suggesting that you completely overlook your values. I’m saying for a successful collaboration or partnership you will need to be aware what some things are worth from your counterparts’ perspective.
Most partnerships fail because one overlooks that what is one dollar on their side is probably fifty cents to the other.
Thus, the premise for successful negotiations or conflict resolution is both sides stating what is important to them and determining what value of pertinent issues is on the other side of the table. This is the essence of value translation.
Translating value is what stops many in enterprise from failing to advance. The successful ones in the context of enterprises are often those who adopt the enterprises’ value as their own.
The ones who adapt only assimilate what they choose or inconveniences them the least, hence they are often considered the least.
You cannot have a genuine appreciation of someone until you are able to translate the value they place on things in their lives. You may see dogs more important than cats. Bad mouthing cats to one who likes cats will not make you the best of friends.
Relationships are often strained because one party either does not recognize the value the other places on certain things, or the other completely tramples what the other places greater value on, completely.
On a scale of ten, an organization or individual can place a ten on the worth of ‘value xy’ while another places a three on the same value. I’ve intentionally laboured everything because of the importance of this concept…
Conflict is often a result of not properly translating the value one places on something.