Important Questions with Solutions

Panjab University – Important Questions | Curated by Jeevansh Manocha, Student at Government College Ludhiana (East)

Q18. What do you mean by values? Explain various sources of values.

Introduction. Every human being carries within himself a more or less organised set of beliefs about what is good or bad, right or wrong, important or unimportant in life. These deep-rooted standards are known as values. In managerial context, values play a crucial role because they influence a person’s attitudes, decisions and behaviour at work. For example, if honesty and hard work are central values for an employee, he will behave very differently from someone who values only money or power. Therefore, a student of “Psychology for Managers” must clearly understand the meaning of values and the major sources from which values are formed.

Meaning of Values

In simple words, values are enduring beliefs about what is desirable or undesirable which guide an individual’s behaviour and evaluation of events.

Main points included in this meaning are:

Examples of common values are: honesty, truthfulness, respect for elders, obedience, hard work, discipline, independence, equality, justice, loyalty, achievement, material success, self-respect and so on.

Characteristics / Nature of Values

From the above, we can summarise important characteristics of values as follows:

Importance of Values in Organisational Behaviour (Brief)

Values have great significance for managers because:

Sources of Values

Values are not inborn; they are acquired through a long process of socialisation and learning. Various agencies of society contribute to the formation of values. Important sources are discussed below.

1. Family and Home Environment

2. Religion and Moral Teachings

3. Culture and Traditions of Society

4. Educational Institutions and Teachers

5. Peer Group and Social Interaction

6. Work Organisation and Experience

7. Mass Media and Information Technology

8. Laws, Political System and National Ideology

9. Personal Experiences and Self-Reflection

10. International Exposure and Global Culture (Brief)

Managerial Implications of Understanding Sources of Values

For a manager, knowledge of how values are formed is extremely useful:

Conclusion. To conclude, values are deep-seated, relatively permanent beliefs about what is desirable or undesirable, right or wrong, which guide human behaviour and evaluation. They form the foundation of attitudes and play a vital role in determining ethical conduct and organisational climate. Values are not inherited; they are acquired from multiple sources such as family, religion, culture and traditions, educational institutions, peer groups, work organisations, mass media, legal–political system, personal experiences and global exposure. A clear understanding of these sources enables managers to appreciate diversity in value orientations and to consciously build an organisational culture based on sound, positive values.

This answer forms part of a carefully curated set of important questions that have frequently appeared in past university examinations and therefore hold a high probability of reappearing in future assessments. While prepared with academic accuracy and aligned with the standard B.Com (Sem I) syllabus of Psychology for Managers (Kalyani Publications — Shashi K. Gupta & Rosy Joshi), these notes should be treated as high-quality preparation material rather than a guaranteed prediction of any upcoming exam paper.