VALUES IMPACT IN BUSINESS

Values

Global beliefs that guide actions and judgements across a variety of situations. They represent basic convictions that a specific mode of conduct is personally or socially preferable to an opposite mode of conduct

Difference between values and principles

Values are a sets of beliefs about good and bad, right and wrong, and about many other aspects of living and interacting in the society with others

Characteristics of values

Part of culture Learned responses Inculcated and passed through generations Adaptive process

Value formation

Value forming institutions such as family, school, state and religion Organizational values Peers and colleagues Work and career

Values in context of business

Fearlessness Courage Purity of mind and heart Integration of thoughts, action and behaviour Straight forwardness Generosity Spirit of sacrifice for the sake of common goal Inspired ideals and vision

Creativity Empathy, love and affection Patience Faith Friendship with all Calmness Control of mind Non-violence

Non-greediness Firm but fair Charity Harmlessness Modesty Gentleness,truthfulness,loyalty

Values of business

Service Communication Excellence Innovation Credibility Coordination

Value system in India

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Present day organizations suffer from innumerable melodies driven by selfishness, egotism, pride, envy, jealousy, arrogance, greed etc. These melodies are:Widespread unhappiness due to comparison with colleagues Disillusionment with performance appraisal system and promotion criteria Division into camps hampering fruitful communication

4. Frequent fits of anger amongst top level officials 5. Regional prejudice 6. Unreasonable personal expectations 7. Limitless addictions to lower order material needs 8. Organization structure is not appropriate and the authority is misused to assert one-up-man ship over one another 9. The top management has myopic view of the situation and they pressure short term objective

Changing value system in India

Nuclear family Less punctuality and hard work Cut throat competition Self interest Less respect for others Less sincerity towards work Violence No sense of responsibility

No discrimination between boys and girls Capital intensive approach Career oriented generation Changed workplace culture Consumer awareness with regard to product quality

Values for Indian managers

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Physical values Organizational values Psychological values

Physical values
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Accuracy Cleanliness Maximum utilization of resources Orderliness Punctuality and timeliness Quality of products and services Regularity Reliability Responsiveness Safety and speed of operations

Organizational values
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Accountability Communication Teamwork Coordination Freedom of initiative Integration of plans Standardization Systemization

Psychological values

Continuous improvement Creativity Customer delight Decisiveness Develop people Harmony Innovation Integrity Loyalty Service to the society