Relevance of Values in Management

Relevance of Values in
Management
Presented By:
Prashant Nair
Ragesh K
Values
Values are concepts. They are ‘ideas’ of what
gives a sense of meaning or worth. We consider
values to be the preferences and priorities that
create meaning and motivation in one’s life.
“the constellation of likes, dislikes, viewpoints,

inner inclinations, rational and irrational
judgements, prejudices and association patterns
that determine a person’s view of the world.”
Character is the foundation of values. The
sequence being:
Character -> Values -> Attitudes -> Behaviour
Human Values is the sum total of qualities like

truthfulness, integrity, gratitude, humbleness,
forgiveness, patience, transparence,
charitableness, simplicity, etc.
Human Values make a person Antarmukhi
(interiorized) while skills will make him more and
more Bahirmukhi (exteriorized).
Values v/s Skills
1. To ‘become’, we need values. To ‘do’, we need skills.
2. ‘Becoming’ (needing values) must precede ‘doing’ (needing
skills). Values should act as the basis of the skills acquired.
3. Values are the means of perfection. Skills must have sound
system of values as the base. Otherwise, one can
manipulate skills for ulterior motives.
4. Values are internal, dealing with internal development of a
person, purifying mind and heart. Skills on the other hand
only make a person proficient. Values are the means of
perfection of personality.
5. Skills are not enduring, values are.
6. Skills change with passage of time. Policy is flexible,
principles and values are not. We have permanent
fundamental values.
“Skills must pass through the corridors of values and
the corridors have to be kept not dark and untidy, but
well lit and clean.”
SKILL/ VALUE MATRIX
Values
strong weak
Skills
strong Most Dangerous

Desirable
weak Tolerable Useless

Business Values
Righteousness (Dharma)
Public Good ( Loka Sangraha)
Efficacy (Kauslam)
Innovation (Vivdata)
Learning (Jigasa)
Respect for individual and human dignity.
Dharmayudh
Features of Values
Values are at the core of personality and are a powerful
force affecting behaviour .
Values contain a judgemental elements in that they
carry an individual’s ideas as to what is right or
desirable.
Values are not fixed but they change over time.
Many values are relatively stable and enduring. This is
because of the way in which they are originally learnt.
Importance of values in management
Helps in understanding of attitude, motivation,
perception.
Underlies the managerial and organizational
behaviour.
Involved in the selection of mission, goal and objective
Value serve as a standard of behaviour.
Guidelines for decision making and conflict
resolution.
Values affects our thoughts and action.
Values serve as an influence on employees motivation.
Types of Values
Acc. to M. Rokeach there are two types of values:
 Instrumental Values
 Terminal Values
Instrumental Values:
These are the values concerning the way we approach
end states. These relate to means for achieving desired
results.
 Terminal Values
These are those end-state goals that we praise such as

comfortable life, a sense of accomplishment, equality
among all peoples, self respect, family security.
Instrumental Values
Assertiveness, standing up for yourself.
Being helpful or caring towards other.
Education and intellectual pursuits
Hardwork and achievements.
Obedience
Dependability, being counted upon by others.
Truthfulness, honesty
Being well-mannered and courteous towards others
Open- mindedness, receptivity to new ideas
Terminal values
Happiness, satisfaction in life.
Knowledge and wisdom.
Peace and harmony in the world.
Pride in accomplishment.
Prosperity, wealth.
Lasting friendship.
Recognition from peers.
Salvation, finding eternal life.
Security, freedom from threat
Managing by Values
Managing by values involves three percepts :
 Identification of Core Values:
The core values of an organization are those values which
form the foundation on which it perform work and
conducts itself.
 Communicating core values:
It should be ensured that values are evident to all
stakeholders.
 Aligning values and practices:
Once your values have been broadly communicated, you
need to assess how well these values are practised. To be
effective, values and strategies need to unite the energies
of all people, especially those dealing with the company’s
various publics.
TATA STEEL
The Tata Group has always sought to be a value-driven
organization. These values continue to direct the Group's
growth and businesses. The five core Tata values
underpinning the way we do business are:
• Integrity
• Understanding
• Excellence
• Unity
• Responsibility
Golden Rule of Ethics
The following are the forms of the golden rule in
ethics. Each of these forms the basis of all human
values. These are the core values to change one first.
1. Everything you want others to do to you, you shall
do to others.
2. Do not do to others that which you do not wish
them to do to you.
3. Do not do anything to others that if done to you,
would cause harm to you.
Indian Values in Management
The salient ideas and thoughts revealed by our ancient scriptures are:
1. Atmano Mokshartham, Jagat hitaya cha: All work is an opportunity
for doing good to the world and thus gaining materially and
spiritually in our lives
2. Archet dana manabhyam: Worship people not only with material
things but also by showing respect to their enterprising divinity
within.
3. Atmana Vindyate Viryam: Strength and inspiration for excelling in
work comes from the Divine, God within, through prayer, spiritual
readings and unselfish work.
4. Yogah karmashu Kaushalam, Samatvam yoga uchyate: He who
works with calm and even mind achieves the most.
5. Yadishi bhavana yasya siddhi bhavati tadrishi: As we think, so
we succeed, so we become. Attention to means ensures the
end.
6. Parasparam bhavayantah shreyah param bhavapsyathah: By
mutual cooperation, respect and fellow feeling, all of us enjoy
the highest good both material and spiritual.
7. Tesham sukhm tesham shanti shaswati: Infinite happiness
and infinite peace come to them who see the Divine in all
beings.
8. Paraspar Devo Bhav: Regard the other person as a divine
being. All of us have the same consciousness though our
packages and containers are different.
Reference
Business Ethics and Managerial Values.
S . K Bhatia
THANK YOU

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Relevance of Values in

“the constellation of likes, dislikes, viewpoints,

Human Values is the sum total of qualities like

strong Most Dangerous

weak Tolerable Useless

These are those end-state goals that we praise such as

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