A majority of organizations make an effort to define their values. You can find endless literature that states the importance of culture to the success of the business (e.g. culture eats strategy for lunch). Defining a set of shared core values is fundamental to shaping the desired culture but it is only the first step.
The bigger challenge is having ownership of these values by the entire organization and defining behaviors that brings these values to life. Culture can only be sustained in the long run if everyone demonstrates the values in their daily behaviors and the organization finds ways to recognize and celebrate the values in action.
In both rapidly growing businesses and established organizations, we have witnessed the return on investment. Yes, it requires deliberate management attention and perseverance to stick with it, but the magic occurs when it takes hold and becomes a true fabric of the organization.