Assignment

Of

Indian Ethos & Business Ethics

Submitted To Submitted By:

Prof. Ashima Verma Tarun kumar

(19001703062)

MBA 4thSemester
Q.1) What are Business values and its types?

A value is a shared idea about how something is ranked in terms of desirability, worth or
goodness. Sometimes, it has been interpreted to mean “such standards by means of
which the ends of action are selected”.
Business Values
Business values are the core values or standards that guide the way you do business.
They sum up what your business stands for, influences the organisational culture and
drives how and why you do things.
Business values: Types
There are many different company values a business can take on, usually in various
combinations, to help guide them in the way in which they do things. Types of company
values include:

• Accountability
• Collaboration
• Customer focus
• Diversity
• Innovation
• Integrity
• Leadership
• One team
• Partnerships
• Passion
• Professional
• Quality
• Respect
• Staff development

Example of company values

There is no template for identifying core values for your business. Some businesses may
identify only one or two company values that they feel are important to them eg a
manufacturing business may highlight their company values as:

• Customer focus: we strive to exceed customer expectations when delivering our

products and;

• Innovation: we continually search for new and better ways of doing things on an
operational level and to produce new products
Other businesses may find that multiple company values are needed to help drive what
their business does and how it does it. Every business is different and will have its own
set of core company values – whether or not these are articulated.

Some other Business values could be:

Fairness
Community involvement etc.

Q.2) How values are formed?

A value may be defined as something that we hold dear, those things/qualities which we
consider to be of worth. A ‘value’ is commonly formed by a particular belief that is
related to the worth of an idea or type of behaviour.
Formation of values:
The formation of values follows a process could be understand as:
1. Determining your core values
Identifying your own core personal values is required in order to address a problem or
set of problems that have been eating away at you for a long time. When a person has
problems with their personal values system, it’s usually because they have experienced a
lot of conflict in their everyday lives.
2. Selecting a Life Domain
Your life is divided into several interrelated facets. You need to determine what facets are
being affected in order to study the set of values accurately. Difficulties can affect one or
more of the following areas:

– Family life
– Personal finances
– Spiritual needs
– Professional life
– Personal development
– Social needs
It is not uncommon for certain problems to affect two or more areas. An example of this
would be if a person is concerned about their mounting debt and at the same time feels
undervalued at their sub-par paying job. This person’s issues touch at least three areas of
their life – their personal finances, personal development, and professional life.

3. Prioritize Values.
You got through the second step. Great work! Now you have access to a key part of your
overall core values group.
Before moving forward, you need to analyze how you have subconsciously prioritized
these key values. In order to do this, take your list and number each value in the order of
importance – the most important value should be marked “1.”
Below is a sample list to give you an idea:
Artistic expression
Happy family
Happiness
True health
Stable job

4. Locate any Missing Values.

If you have any missing values in your value system, it can cause setbacks for you.
Consider a value to add to your current value set to bring some balance back to your
target areas.
An example of this would be if you are already working at a high-paying job, but are still
unfulfilled in your professional life. Consider that there may be something in your value
system preventing you from going after the goals that in the end will bring you
happiness.
Values are not formed in a minute or day it’s a long process formed over the period of
time and some factors are there contribute in value formation are:
Culture
Experiences
Self believes
Perception
Institutions
Attitude etc.

Q.3) What are the values of Indian managers?

The values of different people working in organisation may differ as per their
designation, work assigned and relation with other people of organisation, however
some could be common.
The general values of Indian managers to follow are:
Integrity:
In order for people to want to follow their leader must have trust in his
honesty,dedication ethics of working ,high standards and values.
Willing to take risk: Manager of an organisation is expected to take risk whenever
needed.he must be afraid of it for the running and growth of the organisation,
Optimism and Enthusiasms:
A great manager inspires others with their Infectious enthusiasm, their disarmingly
genuine keenness, passion and their zeal for what they do, rather than dwelling on
problem come in the way.
Commitment to growth:
A manger of an organisation must be hardworking and committed to the growth of the
organization as he or she plays a vital role in the working an running of the organisation
and get an amount of salary for that in consideration.
Vision: The manager of the organisation must have that visionary eye to forcast the
things up to make plan ,strategies for protect organisation from sudden loss and grabing
opportunities are their in the environment.
Self confidence:
The manager must be self confident in talking and dealing with the problems, situations
may arise in the organisation as self confidence enhance the power and effiency of a
person and get better work from him or her.
Many others could also be like,
Hardworking
Emotional intelligence
Loyalty
Expertise in Industry etc.

Q.4) Relevance of value based System?

Value Based Management (VBM) is the management philosophy and approach that
enables and supports maximum value creation in organizations, typically the
maximization of shareholder value. VBM encompasses the processes for creating,
managing, and measuring value.
Value Based Management aligns a company’s overall aspirations, analytical techniques,
and management processes with the key drivers of value.
The three elements of Value Based Management:

• Creating Value. How the company can increase or generate maximum future
value. More or less equal to strategy.
 • Managing for Value. Governance, change management, organizational culture,
communication, leadership.
• Measuring Value. Value Based Management is dependent on the corporate
purpose and the corporate values. The corporate purpose can either be economic
(Shareholder Value) or can also aim at other constituents directly (Stakeholder
Value).
Value Based Management importance
Any (large) company operates and is competing in multiple markets:

• The market for its products and services.

• The market for corporate management and control (competition on determining
who is in charge of an organization, threat of takeover, restructuring and/or a
Leveraged Buy-out).
• The capital markets (competing for investors’ favor and money).
• The employees and managers market (competition for company image and ability
to attract top talent).

Benefits of Value Based Management

• Can maximize value creation consistently.

• It increases corporate transparency.
• It helps organizations to deal with globalized and deregulated capital markets.
• Aligns the interests of (top) managers with the interests of shareholders and
stakeholders.
• Facilitates communication with investors, analysts and communication with
stakeholders.
• Improves internal communication about the strategy.
• Prevents undervaluation of the stock.
• It sets clear management priorities.
• Facilitates to improve decision making.