Ob - Values

Define Values. Critically evalutae “Allport – Vernon” Classification of values. How values affect the Business processes.

Values : According to Milton Rokeach 1973, Values represent basic convictions that 'a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end-state of existence'.

Value system : A hierachy based on a ranking of an individual's values in terms of their intensity
Types of values include ethical/moral values, doctrinal/ideological (political, religious) values, social values, and aesthetic values.

Importance of Values
Provide understanding of the attitudes, motivation and behaviors of individuals and cultures. Values are relatively stable and enduring . If we know an individual’s values, we are better able to predict a behavior in a particular situation.
Influence our perception of the world around us.
Represent interpretations of 'right' and 'wrong'.
Imply that some behaviours or outcomes are preferred over others
Values differ between generations. Values differ between regions. Values differ between cultures.

Source of our Value Systems: A significant portion is genetically determined. Other factors include national culture, parents, teachers, friends, and similar environmental influences.
Values can be divided into the following:
Terminal values: Desirable end-state that a person hopes to achieve during his/her lifetime eg: family security, self respect, comfortable life etc.
Instrumental Values: Means of achieving these terminal values eg: ambition, honesty, courage etc
So we can summarize by saying that values, morals, and behaviors form our attitudes, either for good or bad. Once we have a certain attitude, it takes concerted effort on ours or someone else's part to change it.

Critical evaluation of “Allport – Vernon” classification of values.
The Allport-Vernon Study of Values (1931) categorizes values into six major types as follows:
1. Theoretical: Interest in the discovery of truth through reasoning and systematic thinking.
2. Economic: Interest in usefulness and practicality, including the accumulation of wealth.
3. Aesthetic: Interest in beauty, form and artistic harmony.
4. Social: Interest in people and human relationships.
5. Political: Interest in gaining power and influencing other people.
6. Religious: Interest in unity and understanding the cosmos as a whole.
Examples of the Allport-Vernon Study of Values
Value
Description of value
Typical Occupation
Theoretical
Search for truth
Professor
Economic
Pragmatic, applied
Business
Aesthetic
Artistic values
Artist
Social
Helping people
Social work
Political
Power & influence
Politics
Religious
Religion, harmony
Clergy

People place different importance to the above value types. This is important from the point of view of understanding the behavior of people. People in different occupations have different value systems which has led organizations to improve the values-job fit in order to increase employee performance and satisfaction. The Allport-Vernon Study of Values, however, has one possible weakness. They measure the relative importance of these values to the individual, rather than the "absolute" importance of each value. A high preference for certain values must always be at the expense of the other values.

Values in Business
Values are qualities that define people, organizations and products / services at their most basic level. They establish a foundation onto which expectations and trust (or distrust), is built.
Organization leaders take responsibility for the values the organization and their products / services and employees demonstrate. Taking responsibility for planning their values allows organizations to plan their corporate culture and reputation with confidence.
Demonstrating values also becomes a base for many strategic decisions. The benefit is that once values are defined by; shared with; and understood by all employees, the values themselves should simplify and speed up all other business decisions. They will also ensure consistency in approach and information. For example:
Values should be considered as part of the decision making and the product / service design and customer care process when developing new products / services.
Values assist in the development of the organization (and department), mission statement, vision statement and value statement.
Values can support the core competencies of the organization, the unique value proposition.
Values serve as the starting ground for all marketing and advertising strategies and messages.
Values required to perform work (customer service for example), can be looked for within the values of the people you consider hiring.
The values of an organization express what it stands for and guide everyones behavior when dealing with everything from product development, to each other, to customers and suppliers.