Values in business

Introduction to values
Values are a set of principles that people cherish.
They enhance the quality of individual and collective
life.
Values refers to intrinsic worth or goodness.
They represent a person belief about what is right
or wrong . They are the beliefs that guides
individual actions.
Values lay down standards against which
individuals behavior is judged.

Definition of

business
values
Values are the operational qualities that companies
seeks to achieve or maintain in their performance.
A value is a belief, a mission, or a philosophy that is
really meaningful to the company.
By values, we means the qualitative goals which the
company strives to achieve in all its activities.

 Businesses and other organizations develop strategic plans in

which they list out their goals and values.
E.g., one company may indicate ,providing growth opportunities
for our employees. Create economic value for our customers
and shareholder.
Another example ; increasing the sales volume by being ethical
and truthful.

utility of values in
business
The greatest potential for the growth of any
company are generated by a commitment to high
corporate values..
Values release and direct energy, motivates
people ,generate profits and promote non-stop
expansion.
Quality of performance in every job,every activity,
and every act can be accurately accessed in terms
of values.

Cont
Values are the key to energizing the five growth engines of a
company ; market, product and services, organization ,people
and finance.
Values raise the quality of corporate energies and elevate work
to higher level.
Values are the most powerful way to release and harness
companys latent, unutilized energies for growth.

Some values
Accomplishment ,
success
Accountability
Accuracy
All for one & one for
all.
Challenge
Change
Charity
Collaboration

Commitment

Competence

Creativity

Cooperation

Customer satisfaction

Determination

Diversity

Discipline

Decisiveness

Types Of Values
We can speak of universal values, because ever since human
beings have lived in community, they have had to establish
principles to guide their behavior towards others.
In this sense, honesty, responsibility, truth, solidarity,
cooperation, tolerance, respect and peace, among others,
are considered universal values.
However, in order to understand them better, it is useful to
classify values according to the following criteria:
Personal values:
These are considered essential principles on which we build our
life and guide us to relate with other people. They are usually a
blend of family values and social-cultural values, together with our
own individual ones, according to our experiences.

Contd
Material values:
These values allow us to survive, and are related to our basic
needs as human beings, such as food and clothing and
protection from the environment. They are fundamental needs,
part of the complex web that is created between personal,
family and social-cultural values. If exaggerated, material
values can be in contradiction with spiritual values.
Spiritual values:
They refer to the importance we give to non-material aspects in
our lives. They are part of our human needs and allow us to feel
fulfilled. They add meaning and foundation to our life, as do
religious beliefs.
Moral values:
The attitudes and behaviors that a society considers essential
for coexistence, order, and general well being.

Classification Given by
M. Rokeach

There are two types of values:

Terminal Values

These are values that we think are most important or most

desirable. They are desirable states of existence that we will work
towards or try to reach. They include but are not limited to
happiness, self-respect, recognition, satisfaction,
knowledge and wisdom, and professional excellence.

Instrumental Values
These refer to preferred types of behavior like honesty, sincerity,
hardwork, caring achievement and ambition. These values are
more focused on personality traits and character.

The Formation Of
Values
We start forming values in our childhood. First we learn to
appreciate things that fulfill our basic needs, but we value
especially those people that provide them to us. Their
behavior towards us becomes the main reference of what is
valuable.
Thus, our character and personality are molded through
the attitudes and behavior of the people who raise us,
whether theyre our parents or other relatives. Their
behaviors determine in large part what will subsequently
become our most important beliefs and principles.