What is value system?
In simple way value system means the principle of right and wrong that are accepted by an individual or a social group. Values can be defined as broad preferences concerning appropriate courses of action or outcomes. As such, values reflect a person’s sense of right and wrong or what “ought” to be.40“Equal rights for all” and “People should be treated with respect and dignity” are representative of values. Values tend to influence attitudes and behavior. For example, if you value equal rights for all and you go to work for an organization that treats its managers much better than it does its workers, you may form the attitude that the company is an unfair place to work; consequently, you may not produce well or may perhaps leave the company. It is likely that if the company had had a more egalitarian policy, your attitude and behaviors would have been more positive.
A value system is in essence the ordering and prioritization of the ethical and ideological values that an individual or society holds. While two individuals or groups may share a set of common values, they may differ in their determination of which values in that set have precedence over others. The two individuals or groups are said to have different value systems, even though they may have many values in common, if their prioritization of values differs, or if there are different exceptions they attach to these values. Groups and individuals whose differing value systems have many values in common may still wind up in conflict, ideological or physical, with each other, because of the differences in their value systems. People with differing value systems will thus disagree on the rightness or wrongness of certain actions, both in the abstract and in specific circumstances. In essence, a value system (if sufficiently well-defined) is a formalization of a moral code.
The premise behind the discipline of rigorously examining value systems and