relevance of values in mgt
DESCRIPTION
Relevance of valuesTRANSCRIPT
RELEVANCE of VALUES in RELEVANCE of VALUES in MGTMGT
To be of worth / To be Strong
MEANING
• ‘the ideals, customs, institutions, etc. of a society toward which the people of the group have an affective regard’ – Dictionary.com
• ‘A principle, standard, or quality considered worthwhile or desirable’
– Heritage Dictionary
VALUES
Uneducated
No importance
Educated
No importance
Earlier Now
Knows how to do fraud, break laws
Doesn’t know laws, good/bad
•Veda Vyasa – Mahabharata – Sarvabhutasaman – individual leads others & kingdom
•Leader considers others, have equal respect, no preferences
•Appreciates & acknowledged others, no bias
•Common citizens – right to express their views & suggestions
VALUES
GROWTH
Respect
ECONOMY
SocietyStake holders, people, employees, co workers, Clients
Business, Country
•Even Common people shouted against Duryodhana in the court
•Modern society – loosing faith - educated people – bend & apply rules for their convenience
• Intellectuals led to financial meltdown, US many Co’s
•Financial meltdown - (2008-09)
•Enron bankruptcy - (2001)
•2002 Yr of scandals
•Arthur Anderson self-destructed – accounting frauds in Waste Management, WorldCom
• 2008 sets of Bankruptcy
•Economic exuberance, more wastage leads to planet destruction
•WWF – 30% of annual bio-capacity of the planet
•Continuing such things – will another planet by mid 2030s
• ‘Greed is Good’ – all sufferings
• Increased consumption & less production led to more hunger deaths
•FOA – 25,000 people die every day from hunger or hunger related causes
•Every 6th second, one child dies of hunger / related causes
•These things sends a strong signal about the RELEVANCE OF VALUES IN MGT
VALUES
POVERTY
COs
ECONOMY
FRAUD
Leads to death, diseases
Financial crisis, loss, cheating
Educated people
• ‘Without self-regulation, without respect and trust, no system we introduce will be efficient or effective in the long term. And the Rig Veda puts the responsibility for this on the basis building block of the Universe, the individual’ – Shaunaka Rishi Dass, Director Oxford Centre for Hindu Studies, Oxford University
VALUES
Self-Regulation
TRUST & RESPECT