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WHAT ARE VALUES? The word “values” can sometimes be interpreted with having only to do with “touchy-feely” type things like feelings. However, the idea of values, when it comes to management/strategy, relates much more to practical matters. There is a huge correlation between correct value alignment and success. Values can be defined as those things that are important to or valued by someone. That someone can be an individual or, collectively, an organization. One place where values are important is in relation to vision. One of the imperatives for organizational vision is that it must be based on and consistent with the organization's core values.

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Values are what we, as a profession, judge to be right. They are more than words-they are the moral, ethical, and professional attributes of character . Values are the embodiment of what an organization stands for, and should be the basis for the behavior of its members.


NEED OF VALUES Right and wrong defined by different people may manifest diverse thinking, motivated by each individual’s personal values. Within a work environment, the cultural values that drive business decisions are critical to the organization’s credibility with its employees, customers, and shareholders. Today, in business, value is about prioritizing individual and operational values for the workplace and establishing codes of value and codes of conduct that ensures that employee behaviors and the internal systems are aligned with those values which in turn affects the performance of the organization.


IMPORTANCE OF VALUES Key leadership with appropriate values establishes the moral compass that guides the organization through the complexities of what is right and wrong and how management and staff are therefore expected to behave. Critical then, becomes the ability to manage for ethical outcomes—this is values-based management. Values provide the basis for judgment about what is important for the organization to succeed in its core business. Values are traits or qualities that are considered worthwhile; they represent an individual’s highest priorities and deeply held driving forces


WHAT ARE MANAGERS EXPECTED TO DO? Managerial activities can change as the organizations and their environment change. The managers responsibilities have increased as more tasks have been outsourced on them, at the same time they have been stripped of some of their support functions and assistants. There are constrains that limit the managers possibilities to chose what to do in their work. Some of the constraints are lack of available resources, insufficient experience and training for the new administrative tasks and technological limitations

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Through different actions the managers are trying to keep some values within acceptable limits; they work more overtime and do administrative tasks from home to have time for managing and leading their subordinates.


VALUES FOR INDIAN MANAGERS Indian managers are moving away from the concept of values and ethics. The lure for maximizing profit is deviating them from the value based managerial behaviour. There is a need for our managers today both in private and public sectors to develop a set of values and believes that will help them attain the ultimate goals of profits and survival and growth. They need to develop the following values:

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Optimum utilization of resources Attitude towards work - Managers have to develop the visionary perspective in their work. They have to develop a sense of larger vision in their work for the common good. Work commitment Vision - Managers have a long term vision. The visionary managers must be practical, dynamic and capable of translating dreams into reality.

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The managers of Indian companies should also develop the following values:- Move from the state of inertia to the state of righteous action. Move from the state of faithlessness to the state of faith and self-confidence. Move from unethical actions to ethical actions. Move from untruth to truth.


VALUES FOR WESTERN MANAGERS Western managers are highly professionals with excellent analysis power, high professional education and specialization. Western managers follows a proper code of conduct and work in the structured formal atmosphere with no place of modesty in their behavior. Professional efficiency and work disciplines are the conditions under which western managers perform. They consider rules as sacred in their value system. Western value system teaches contractual obligations. Managers honour their contracts. Western managers value principles above its privilege and they consider this as the best strategy to win


CONCLUSION For years conventional wisdom suggested that people do not leave companies, but rather they leave because of bad business management also known as bad managers. Poor business management practices are more related to the problem of poor business ethics or values than to the common symptoms such as poor delegation or poor communication. Every organization, no matter size, should have a written business values statement of non-negotiable behaviors that will be demonstrated by everyone. Each employee from top down needs to consistently demonstrate the same values and ethics. Inconsistent values from managers can dramatically affect employee motivation and ultimately employee performance.





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