VALUES: MEANING, RELEVANCE & IMPORTANCE

Hello Learners !!

Welcome to the session on

Values: Meaning, Relevance &
Importance

Dr. Sonal Sidana

Assistant Professor
Department of Business Administration,
School of Business & Commerce, FoMC,
Manipal University Jaipur
Email ID:
sonal.sidana@jaipur.manipal.edu
VALUES: MEANING, RELEVANCE & IMPORTANCE

Contents

Self-Introspection
Introduction
Meaning
Definition
Relevance of Value Education
Formation of Belief
Importance of values
Need of values
Values: Inherited or Acquired
Formation of values
Types of values
Summary
Reference Books
VALUES: MEANING, RELEVANCE & IMPORTANCE

Learning Objectives

At the end of this course, you will be able to:

Self-Introspect.
Define value.
Identify the need for value education.
Identify the formation of values.
Acquaint with the importance of values.
Identify the types of values.
 VALUES: MEANING, RELEVANCE & IMPORTANCE

Self-Introspection
What you as an individual value the most in
your life?
List down your response and see how those
values have shaped your understanding
towards life.
 VALUES: MEANING, RELEVANCE & IMPORTANCE

Introduction

Frequent use of the term value in various sense.

Cost, price and value!!
A value is a measure of the worth or importance a person attaches to something.
Our values are often reflected in the way we live our lives, for instance, we value
freedom of speech, or we value our families etc.
Values are the guiding principles of our lives.
They are the standards, ideas, qualities, likes, dislikes, viewpoints, inner inclination,
rational and irrational judgements, prejudices, and associated patterns.
 VALUES: MEANING, RELEVANCE & IMPORTANCE

Meaning

Values are basic and fundamental beliefs that guide or motivate attitudes or actions.
They help us to determine what is important to us.
Values describe the personal qualities we choose to embody to guide our actions;
The sort of person we want to be;
The way we treat ourselves and others, and our interaction with the world around us.
They provide the general guidelines for conduct.
For example, honesty, punctuality, compassion etc.
 VALUES: MEANING, RELEVANCE & IMPORTANCE

Definition

The term value can be defined as "the constellation of standards, or qualities, characteristics, or
ideas that determine a person's view of the world”.
Those standards/idea, qualities are likes, dislikes, viewpoints, inner inclination, rational and
irrational judgements, prejudices and associated patterns.
 VALUES: MEANING, RELEVANCE & IMPORTANCE

Relevance of Value
Education

Value education is teaching and learning about the ideals that a society deems important.

The aim is not only to understand the values, but also to reflect them in their attitudes and behavior
and contribute to society through good citizenship and ethics.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Formation of Belief
VALUES: MEANING, RELEVANCE & IMPORTANCE

Importance of Values

Our values inform our thoughts, words and

actions. Our values are important because
they help us to grow and develop.
To guide us in the right path.
To learn the importance of certainty, goodness
and beauty.
To give direction to life and bring joy.
To learn satisfaction towards life.
To attain peace in life.
To develop character.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Need of Values

To preserve our culture and heritage.

To bring changes in behaviour towards
positivity.
To promote peace and harmony in life.
To create the future, we want to experience.
The decisions we make, reflect our values and
beliefs, and they are always directed towards
a specific purpose.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Values: Inherited or
Acquired?

Values provide the basic foundation for

understanding a person’s personality
perception and attitudes.

Reflect:
Whether Values are
Inherited or Acquired?
VALUES: MEANING, RELEVANCE & IMPORTANCE

Values: Inherited or
Acquired?

Both school of thoughts are right at their place,

First, hold good on the ground that most of
values are inherited and therefore they are a the
core, while

The later is correct in the sense that out of our

emotional development we start believing in
certain things which lead to attitude and virtue.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Formation of Values

40% of our values are genetically

determined.
Balance is provided by the environmental
factors.
Sources are:
Culture and Tradition
Parents and Family
Role Models
Teachers and Classmates
Peer groups, Friends, and other situations
Reference Groups
VALUES:
AttainmentMEANING, RELEVANCE & IMPORTANCE
Specific
Values
Types of Values

Personal Values

Workforce
Values
Business Values
VALUES: MEANING, RELEVANCE & IMPORTANCE

Types of Values

Attainment Specific Values:

Terminal Value: are the highest values in a
person’s value system. For e.g., Self-Realization
Instrumental Value: are modes of behaviour in
achieving the terminal values. These are the
ones that are often used in day to day lives. For
e.g., Being responsible, polite etc.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Types of Values

Personal Values:
Personal values denote a sense of right or
wrong, good or bad, and other judgmental
criteria based on our strong sense of what the
ideal ought to be.
Personal values serve five purposes in
organizations:
Value serve as standards of behavior
Guidelines for decision making and conflict
resolution
Value effect our thought & action
Influence on employee motivation & perception
Influence on attitude and behavior
VALUES: MEANING, RELEVANCE & IMPORTANCE

Types of Values

Workforce Values:
Old values: Hard work, conservative-traditional,
loyalty to the employer organization.
Values today: Job satisfaction, leisure time,
loyalty to relationship, flexibility in career.
Negative value: Anger, ,meanness, arrogance
(overconfidence), crookedness-wicked,
greed/lust.
Positive value: Integrity, honesty, truthfulness,
kind heartedness.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Types of Values

Business Values:
Scholars identified ten fundamental shared
values for successful organization:
 Truth
 Mentoring
 Giving credit
 Honesty
 Caring
 Trust
 Openness
 Risk taking
 Social conscience
 Responsibility & accountability
VALUES: MEANING, RELEVANCE & IMPORTANCE

Summary

Values provide the basic foundation for

understanding a person’s personality perception
and attitudes.
Values are inherited as well as acquired.
A belief is an internal feeling that something is
true, even though that belief may be unproven
or irrational. For example, I believe that if I see
a black cat crossing the road, it indicates a bad
luck.
There are 4 types of values: Attainment
Specific, Personal, Workforce & Business
Value.
VALUES: MEANING, RELEVANCE & IMPORTANCE

Reference Books
• R.1 Gaur R.R., Sangal R. and. Bagaria, G.P: ”A
Foundation Course in Human Values Professional
Ethics,” Excel Books, 2010
• R.2 Sadri S & Sadri, J Business Excellence Through
Ethics & Governance, 2nd edition, 2015
• R.3 Mathur, U C Corporate Governance and
business ethics, MacMillan India Ltd, Latest Edition
• R.4 Baxi, C V: Corporate Governance, Excel Books,
Latest Edition
• R.5 Sadri S, Sinha A K and Bonnerjee, P: Business
Ethics: concepts and cases, TMH, Latest Edition