 VALUES determine what is right and what is

wrong
 Values are beliefs upon which one acts by
preference. - Allport
 Socially preferable actions
 Manifested in thoughts
 All inherent
 Comprehensive standards
 Two attributes
 Terminal Values
 These are values that we think are most
important or most desirable.
 These refer to desirable end states of existence,
the goals a person would like to achieve during
his or her lifetime.
 For eg: They include, inner happiness, self-
respect, recognition , harmony, leading a
prosperous life, and professional excellence.
 Instrumental Values
 Instrumental values deal with views on
acceptable modes of conduct or means of
achieving the terminal values.
 These values are more focused on personality
traits and character.
 For eg : These include being honest, sincere,
ethical, and being ambitious.
 DIFFERENCE between terminal values and
instrumental values
 VALUE FORMATION
 Concept, Definition, FEATURES OF Values
 Comparison of Values of Indian and western
Managers in tabular form
 Ethical decision making process
points’explanation.
 Behaviour means what we say and what we do
 Role of values in understanding behaviour:
 1. values lay the foundation of understanding
attitudes, perecptions and in turn shaping the
behaviour
 2. The more accessible a value, more chances
of becoming a part of behaviour
 3. common values develop org culture
 4. Org values that promote ethics enhance
corporate image
 5.Value system pave way for setting org goals
and strategies for their achievement.
 6.Values determine the extent to which one
manages stress and pressure at the org level
 7.interpersonal relationships
 Highly professional
 Punctual
 Emphasize fulfilling of contractual obligations
 Follow the code of conduct and work in
formally structured environment
 Professional efficiency and work discipline are
important values
 Priority to principles over privilege
 Consider rules as sacred
 Do not let personal dealings interfere with
professionalism
 Dignity of labour is important part
 Accountability
 Care for society
 Ethical decision making is the process in
which we aim to make our decisions in line
with a code of ethics.
 To do so, we must seek out resources such as
professional guidelines and organizational
policies, and rule out any unethical solutions to
the problem.
 For eg: 1. A coworker lied to a client about a
deal, but the employee realised about the
inethical behaviour being done by his co-
worker
 Team leader might be tempted to lie to his boss
to avoid admitting that his team missed a
deadline.
 The PLUS model, a set of questions designed
to help us make a decision from an ethical
point of view, can ensure we're doing the right
thing.
 The PLUS model is especially objective
because it doesn't focus on revenue or profit,
but rather urges leaders to take a legal and fair
approach to a problem.
 P = Policies and Procedures (Does this decision
align with company policies?)
 L = Legal (Does this decision violate any laws or
regulations?)
 U = Universal (Is this decision in line with core
values and company culture? How does it relate to
our organizational values?)
 S = Self (Does it meet my standards of fairness and
honesty?)
 Define the Problem
 Seek Out Resources
 Brainstorm a List of Potential Solutions
 Evaluate Those Alternatives
 Make Your Decision, and Implement It
 Evaluate Your Decision
 Your team misses an important deadline, and
you're tempted to tell your boss you reached it
anyway.
 Your coworker is giving her sister a major
discount on your product.
 You're close to finalizing a deal when you find
out some of the information you've provided
the client isn't true.
 Ethics means the set of rules or principles that
the organization should follow.
 While in the business ethics refers to a code of
conduct that businesses are expected to follow
while doing a business.
 Through ethics, a standard is set for the
organization to regulate their behavior.
 This helps them in distinguishing between the
wrong and the right part of the businesses.
 Van Fleet and Peterson define management, ‘as a
set of activities directed at the efficient and
effective utilization of resources in the pursuit of
one or more goals.’
 According to F.W. Taylor , ‘ Management is an art
 of knowing what to do, when to do and see that it
is done in the best and cheapest way ‘.

 According to Harold Koontz,
Management is an art of getting things done
through and with the people in formally
organized groups.
 PLANNING: Planning is the fundamental
management function, which
involves deciding beforehand, what is to be
done, when is it to be done, how it is to be
done and who is going to do it. It is an
intellectual process which lays
down an organisation’s objectives and
develops various courses of action
 Mission Statement
 Ethics are a consideration from the very early
stages of a company’s development, when the
business owner crafts a mission statement in
his business plan that describes the kind of
company he wants to build.
 CODE OF CONDUCT
 A business owner creates a code of conduct to
provide specific direction about how his
employees should act in situations they
encounter on the job.
 A production manager may be tempted to use
lower quality raw materials to keep production
costs in line, for example.
 Customer Relations Strategy
 If a customer believes she was lied to, she may not do business
with the company again and could go so far as to post a
complaint about the company on Internet forums. The ethical
consideration means recognizing that it’s better to lose one sale
today then lose many more in the future because the company
has a reputation of not being honest. During the planning
process, the business owner develops strategies to increase
customer satisfaction, which leads to repeat business and
customer loyalty
 Social Responsibility Strategies
 Companies that ignore the community’s needs don’t
necessarily face negative consequences, but a small business
owner who implements proactive strategies to help members of
the community often reaps benefits in terms of favorable
publicity and industry recognition. Some companies even
include goals in their business plans for recycling, reducing
waste, using less energy and contributing to local charities. The
ethical consideration involves recognizing that the company
and its employees are members of the community and have a
responsibility to be positive contributors to the well-being of
the community and to protect the environment.
 ORGANISING: It means the identification of
activities to be carried out,grouping of similar
activities and creation of departments.
 Creation of authority and responsibility
relationships across the organisation.
 There should be fairness and transparency in
grouping people.
 People should be put under various
departments on the basis of their abilities and
competencies.
 For eg: It may be unethical for the manager to
assign very little and less burdened work to the
employee who is his relative.
 It is concerned with manpower
planning,recruitment,training,appraisal,
remuneration of the employees
 Ethics in Staffing:
 1. It may be unethical to hire an employee who
is the close friend of HR Manager
 2. The performance appraisal requires high
degree of fairness on the part of the supervisor
 Human resource (HR) management involves
recruitment selection, orientation, performance
appraisal, training and development, industrial
relations and health and safety issues.
Discrimination by age (preferring the young or
the old), gender, sexual orientation, race,
religion, disability, weight, and attractiveness
are all ethical issues that the HR manager must
deal with.
 It includes communication with
subordinates,providing them leadership and
also motivating them.
 Ethics in Directing:
 it would be unethical to overlook the safety
norms and regulations to get the job done
 The manager as a leader should treat all his
subordiantes with the feeling of equality
 There should a fair and adequate system of
rewards.
 For Eg: The interpersonal relationships
between the manager and the employee are not
good.There is a cold war between them. But
the employee is higly productive and has
shown exemplary performance,this conflict
should not hinder his reward system.
 It refers to comparison of actual performance
with the standards to find out the deviations
and the reasons for such variance
 Ethics in Controlling:
 The team leader should not hide the matter in
case the targets are not achieved by his team.
 This would show disloyal behaviour towards
the organisation.
 The actual performance is compared with
standards fixed under planning process. Hence,
standards should be set judiciously. They
should not be over-burdening for the
employees.
 It would be unethical for the manager to set
unexpectedly high standards just to show his
bossism and authority.He should move with a
humanitarian approach