3. Values are important and lasting beliefs or ideals
shared by the members of a culture about what
is good or bad and desirable or undesirable.
Values have major influence on a person’s
behaviour and attitude and serve as broad guidelines
in all situationss.
4. • Values are different from Attitudes.
• Values are general beliefs about life.
• Whereas attitude are directed
towards specific objects, events, or
people.
VALUES FACT
5. Value versus Facts:
• Values are things we feel
“should”, “ought”, or “are
supposed to” influence our lives.
VALUE: All people should be active
in a specific religion.
• A value is a statement of one’s
personal beliefs.
• Facts simply state what actually
are. It is easy to confuse values
with facts.
FACT: Many people are active in a
specific religion.
• A fact is established by
observation and measurement.
6. Types of values
Instrumental Value
These include honesty, sincerity, ambition, independence,
obedience, imaginativeness, courageousness, competitiveness,
and also some negative traits too.
Terminal Value
Terminal Values include things like happiness, self respect, family
security, recognition, freedom, inner harmony, comfortable life,
professional excellence, etc.
7. OTHER CATEGORY OF VALUES
Theoretical: Values the discovery of truth and
emphasises critical and rational approach to
problem.
Economic: Values utility and practicality and
emphasises standard of living.
Aesthetic: Values form grace and harmony and
emphasises the artistic aspects of life.
Social: Values love of people and altruism and
emphasises competition and winning.
8. The Quality Principle of Mars, Inc., “The consumer is our boss,
quality is our work, and value for the money is our goal,”has the
same benefit for everyone who is associated with that company.
9. Why Value?
• The creation of value is the primary goal of managers in leading
companies
• Organizations exist to create value for all constituencies /
stakeholders
• Stakeholders include customers, owners, managers, employees,
suppliers and society in general
• Organizations determine the degree to which they will prioritize
the interests of each stakeholder group and will therefore balance
performance goals accordingly
10. What Values?
Values depend on the stakeholder, however, examples
might be:
Markets and owners expect that economic value be created
Customers may expect to obtain desired goods and services on
time and at competitive prices
Employees may expect a substantive and meaningful job with
commensurate compensation
Suppliers may expect to be paid on time
Society may expect that their environment will be improved
11. IMPORTANCE OF VALUES IN AN
ORGANIZATION
Contribute to the shared meaning in the organization.
Binds people together as a community.
Provides people with a common language.
Tell people how to behave to achieve the organization’s vision.
Contribute to organization’s vitality and performance.
12. CONTINUED..
Organizational values are unique to each company.
Values should represent the culture of the business. It’s
okay to be competitive and profit driven.
As you’re starting to plan for next year, think about your
organizational values and whether they’re representative
of your organization.
13. IMPORTANCE OF VALUES IN
VARIOUS FIELDS
Recruiting -
Training -
Performance -
14. Provides good basis to management for better business
decisions.
Improves provided services to partners/customers real
needs.
Facilitate innovation to support organization
competitiveness .
Strong awareness of value culture, with good
understanding of business's goals;
Good knowledge of business/ organization KPIs .
Enhance communication and the efficiency of teamwork.
Commitment from partners/customers and stakeholders.
THE BENEFITS OF VALUES IN
MANAGEMENT
15. 1. Young managers should understand and be aware of the reasons that
underline moral principles. These are helpful in fostering ability to reason
when applying these principles. It is vital part of ensuring compliance by
managers with company standard for conduct.
2. Knowledge of business ethics will help managers in resolving ethical
issues/dilemmas as they arise.
3. Knowledge of values will help managers in setting highly responsible tone
for the organization - in individual judgments and decisions whether
ethical or not.
4. The study of business ethics provides conscientious managers with morally
responsible approach to business. The need for responsible manager is
acute as questions of business ethics cannot wholly be determined by law
and government organization but must remain the concern of individual
manager.
RELEVANCE OF VALUES IN
MANAGERS
16. 5. It helps manager to realize their social responsibility. Many organizations find
it wise to go beyond their primary mission and take into the needs of the
community. Business ethics make managers more accountable for social
responsibility.
6. Business ethics create awareness of social and moral values through education
because erosion of essential values and increasing cynicism in society as
leading to violence, superstition and fatalism.
7. Knowledge and awareness of the concept and practices of business ethics is
equally helpful to practicing managers in managerial conduct and decision-
making.
8. Business ethics improve the skills of reflective managers both in analyzing
concrete moral issues and in deliberating and deciding upon strategies for
solving moral dilemmas.
CONTINUED . .
17. RELEVANCE OF VALUES IN MANAGEMENT
Values give direction and consistency to behavior.
Values help you know what to and not to make time
for.
Values establish a relationship between you and the
world.
Values set the direction for one’s life.
22. TWO STEP PROCESS
Every individual and every organization on this planet is involved in
making decisions on a daily basis.
The first step in creating values alignment is to find out what the
values of employees are.
The second step is to find out how employees perceive the values of
their organization.
The decisions we make are a reflection of our personal and
organizational values.
When the values of an individual are the same as the values of their
organization, then there is a values alignment &Vice versa.
23. The Problem(s)
Shareholders want bigger returns
We are losing business to competitors on price and on performance
Customer expect high quality at low price
We are not ‘easy to do business with’
We don’t pay enough attention to our ‘important’ customers
Today’s structure does not support the segmentation strategy
Financial information gets attention, but it isn’t enough
Our employees understand the need to change, but they don’t
Customers want a single problem owner
We are not able to adapt quickly to new business opportunities
There are many complex and inter-related concerns.
The combination is killing us!
24. CONCLUSION
Values are the ideals of an individual personal importance.
However, to be successful in an organization, managers need to
learn, adopt values, a set of values that are part of the
organisation’s culture.
When personal values (intended) and organizational values
(adopted) are congruent, these become highly pragmatic
operative values.
Thus, they provide a frame of references for consistency in
making decision and relationship with others. Organization
grows and prospers when operative values are strong.
25. • ‘Without self-regulation, without respect and
trust, no system we introduce will be efficient
or effective in the long term. And the Rig Veda
puts the responsibility for this on the basis
building block of the Universe, the individual’
– Shaunaka Rishi Dass, Director Oxford Centre for
Hindu Studies, Oxford University
