52228148 Relevance of Values in Management

8/3/2019 52228148 Relevance of Values in Management

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Submitted By:Manmeet kaur

M.com(II)

5738


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y Values are concepts. They are ideas of whatgives a sense of meaning or worth. We consider

values to be the preferences and priorities that

create meaning and motivation in ones life.

y the constellation of likes, dislikes, viewpoints,inner inclinations, rational and irrational

judgements, prejudices and associationpatterns that determine a persons view of the

world.


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y Character is the foundation of values. The

sequence being:Character -> Values -> Attitudes -> Behaviour

y

HumanV

alues is the sum total of qualities liketruthfulness, integrity, gratitude, humbleness,forgiveness, patience, transparence,charitableness, simplicity, etc.

y HumanValues make a person Antarmukhi(interiorized) while skills will make him more andmore Bahirmukhi (exteriorized).


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y Values v/s Skills1. 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 canmanipulate skills for ulterior motives.

4. Values are internal, dealing with internal developmentof a person, purifying mind and heart. Skills on theother hand only make a person proficient. Values arethe means of perfection of personality.


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5. Skills are not enduring, values are.

6. Skills change with passage of time. Policy is flexible,

principles and values are not. We have permanentfundamental values.

y Skills must pass through the corridors of values andthe corridors have to be kept not dark and untidy, but

well lit and clean.


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strong weak

strong MostDesirable

Dangerous

weak Tolerable Useless

Skills

Values


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y Righteousness (Dharma)

y Public Good ( Loka Sangraha)

y Efficacy (Kauslam)

y Innovation (Vivdata)

y Learning (Jigasa)

y Respect for individual and human dignity.

y Dharmayudh


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y Values are at the core of personality and are a powerfulforce affecting behaviour .

y Values contain a judgemental elements in that they

carry an individuals ideas as to what is right ordesirable.

y Values are not fixed but they change over time.

y Many values are relatively stable and enduring. This is

because of the way in which they are originally learnt.


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y Helps in understanding of attitude, motivation,perception.

y Underlies the managerial and organizational

behaviour.y Involved in the selection of mission, goal and objective

y Value serve as a standard of behaviour.

y Guidelines for decision making and conflict

resolution.y Values affects our thoughts and action.

y Values serve as an influence on employees motivation.


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Acc. to M. Rokeach there are two types of values: Instrumental Values Terminal Values

y InstrumentalValues:

These are the values concerning the way we approachend states. These relate to means for achieving desiredresults.

y Terminal Values

These are those end-state goals that we praise such ascomfortable life, a sense of accomplishment, equalityamong all peoples, self respect, family security.


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y Assertiveness, standing up for yourself.

y Being helpful or caring towards other.

y Education and intellectual pursuits

y Hardwork and achievements.y Obedience

y Dependability, being counted upon by others.

y

Truthfulness, honestyy Being well-mannered and courteous towards others

y Open- mindedness, receptivity to new ideas


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y Happiness, satisfaction in life.

y Knowledge and wisdom.

y Peace and harmony in the world.

y Pride in accomplishment.y Prosperity, wealth.

y Lasting friendship.

y R

ecognition from peers.y Salvation, finding eternal life.

y Security, freedom from threat


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Managing by values involves three percepts :y Identification of Core Values:

The core values of an organization are those values whichform the foundation on which it perform work and

conducts itself.y Communicating core values:

It should be ensured that values are evident to allstakeholders.

y Aligning values and practices:

Once your values have been broadly communicated, youneed to assess how well these values are practised. To beeffective, values and strategies need to unite the energies ofall people, especially those dealing with the companys

various publics.


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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


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The following are the forms of the golden rule inethics. Each of these forms the basis of all humanvalues. These are the core values to change one

first.y 1. Everything you want others to do to you, you

shall do to others.

y 2. Do not do to others that which you do not wish

them to do to you.y 3. Do not do anything to others that if done to you,

would cause harm to you.


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The salient ideas and thoughts revealed by our ancientscriptures are:

1.Atmano Mokshartham,Jagat hitaya cha: All work is anopportunity for doing good to the world and thus gainingmaterially and spiritually in our lives

2.Archet dana manabhyam: Worship people not only withmaterial things but also by showing respect to theirenterprising divinity within.

3.Atmana Vindyate Viryam: Strength and inspiration forexcelling in work comes from the Divine, God within,through prayer, spiritual readings and unselfish work.

4. Yogah karmashu Kaushalam, Samatvam yoga uchyate: Hewho works with calm andeven mind achieves the most.


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5. Yadishi bhavana yasya siddhi bhavati tadrishi: As we think,so we succeed, so we become. Attention to means ensuresthe end.

6. Parasparam bhavayantah shreyah param bhavapsyathah:

By mutual cooperation, respect and fellow feeling, all of usenjoy the highest good both material and spiritual.

7. Tesham sukhm tesham shanti shaswati: Infinite happinessand infinite peace come to them who see the Divine in allbeings.

8. ParasparDevo Bhav: Regard the other person as a divinebeing. All of us have the same consciousness though ourpackages and containers are different.


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y Business Ethics and Managerial Values.

S . K Bhatia


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THANK YOU

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52228148 Relevance of Values in Management