UHV Unit 1 Notes
UHV Unit 1 Notes
UNIT-01
Values
Values are a set of principles that people cherish. They enhance the quality of individual and
collective life. They involve personal and community discipline and sacrifice of immediate
gratification needs. Quality of life is a product of physical, social, environmental, mental and
spiritual health and wholeness. Values refer to intrinsic worth or goodness. They are the
beliefs that guide an individual's actions. They represent a person's belief about what is right
or wrong. Values lay the standard against which individuals' behaviour is judged. They
determine the overall personality of an individual and the organisation he is working for. His
family peer group, educational institutions, environment and the workplace inculcate values
in him. Values are applicable to individuals and institutions, both business and non-business.
Characteristics of Values
1. Human values are social and ethical norms common to all cultures, societies and
religions.
3. Values are a set of principles that people cherish as they enhance the quality of individual
and collective life.
4. Values are the guiding force to take specific decisions in specific societal issues.
7. By practising values we can eliminate misery, avoid conflict, avoid wars and enhance
quality of life.
9. Values are the beliefs that guide actions and judgments across a variety of situations.
10. Values are manifested in thoughts, speech and actions of every human being.
11. They serve the process of 'becoming' in the sense that they transform the level of
consciousness to purer, higher levels.
12. Values are the basis of prolonged success of every human being. Values are a powerful
source to affect behaviour.
13. Values are dynamic and change with changing times.
15. Values are concerned with internal development of the person, purifying mind and heart.
18. Values contain judgmental elements as they help people in deciding what is right or
desirable.
Types of Values
1. Operative Values: Operative values are value choices which depend on people's
preferences for action and objects for e.g. X has two choices; either to choose a plain path to
reach his destination or to choose a damaged path to reach his destination. If he chooses a
smooth path, this is a matter of choice and is called operative value.
2. Conceived Values: Conceived values are value choices made on the basis of symbolised
concepts. They are made in anticipation of the outcome, of the chosen behaviour. For
example, a person can choose one of the two possible paths of action on the basis of value.
3. Objective Values: Objective values are value choices which are objectively desirable.
They are not sensed as advantageous to the person nor are they conceived as symbolically
desirable.
1. Terminal Values: These are the values that a person wants to achieve during his life time.
They represent the end state or the purpose of a person's existence. Some of the terminal
values are:
● Pride in accomplishment.
● Prosperity, wealth.
● Lasting friendship.
2. Instrumental Values: These relate to means for achieving the desired results. They refer
to preferable modes of behaviour or means of achieving the terminal values.
● Being helpful or caring towards others. Dependability being counted upon by others.
● Self-sufficiency, independence.
● Truthfulness, honesty.
1. Positive Values: These are the values which the individual strives to achieve. He is
prepared to incur expense to acquire these values.
2. Negative Values: These are the values that the individual avoids. He escapes from,
deplores and rejects these values.
A value system is a protocol for behaviour that enhances the trust, confidence and
commitment of members of the community. It goes beyond the domain of legality. it is about
decent and desirable behaviour. Further, it includes putting the Community interest ahead of
our own. Thus, our collective survival and progress depends on sound values. There are two
pillars of our value system, loyalty towards family and loyalty towards community. A rational,
judicious mix can direct us to the path of progress and success.
Indians have a rich culture and heritage, which has deep rooted family values. There is
tremendous loyalty to the family, parents make a lot of sacrifices for their family & they
support them till they stand on their feet.
Children consider their duty to take care of aged parents. We believe, “Matru Dev Bhava,
pithrtu Devo Bhava"(Mother is God and father is God). Further brothers and sisters sacrifice
for each other.
However, this value system is eroding in the contemporary business. It can be seen from the
following observations:
1. Trend towards Individualism: There is a trend towards individualism and the following
observations: comparatively less sensitive and less socially responsible attitude of people.
Corruption, tax evasion, cheating and bribery have eaten our system. For example,
contractors bribe officials and construct low-quality roads and bridges. Corruption, as we see
in India, is a burning example of putting the interest of oneself, and at best that of one's
family, above that of the society.
2. Public apathy: Apathy in solving community matters has held us back from progress,
which is otherwise within our reach. We see serious problems around us but do not try to
solve them. We behave as if the problems do not exist or are somebody else's problems.
There are several examples of our apathetic attitude (People, Managers etc.)
(a) For instance, all of us are aware of the problem of drought in India. More than 40 years
ago, Dr. KL Rao, an irrigation expert, suggested creation of a water grid connecting all the
rivers in North and South India to solve the
problem. Unfortunately, nothing has been done about this. (b) A subway in Bombay is in a
deplorable state for the past 40 years and no action has been taken.
3. Decision Making (Analysis Expertise): Indian managers lack decision making ability and
expertise. "We are what we repeatedly do". Thus, having done this over years, the
decision-makers in our society are not trained for solving problems. Decision makers look to
somebody else to take decisions. Unfortunately, the tragedy is that there is nobody to look
up to.
5. Less professional dealing: If we compare the managers of East and West, western
managers are extremely professional in their dealing while Indian managers are less
professional. They work in a narrow perspective ie. personal perspectives.
There is lack of professionalism even to our sense of punctuality. We do not seem to respect
the other person's time. Moreover, deadlines are typically not met. The disheartening aspect
is that we have accepted this as the norm rather than an exception.
There are many ways in which the basic human values - truth, righteousness, peace, love
and non-violence- can be practised in the day-to-day conduct of business. There are
different aspects of management such as marketing, finance, industrial relations, etc., but
the most important aspect is "man-management." Each country has its own historical and
cultural background and Indian managers should not mechanically copy practices from
abroad but should keep in mind the Indian milieu and our national ethos.
There is a specific need to infuse management practices in India with the cardinal values of
Sathya, Dharma, Santhi, Prema and Ahinsa. All the values are interrelated.
For example, a burning electric lamp can be compared to Prema. For the lamp of love to
burn, there should be a bulb. That bulb is Santhi. The bulb has to be connected to an
electric wire. That wire is Dharma. And then the current has to flow in the wire. The current
is Sathya. With the current of Sathya (Truth) flowing in the wire of Dharma (Righteous
conduct), connected to the bulb of Santhi (Peace), the lamp of Prema (love) burns and
sheds its light. Sathya, Dharma, Santhi and Prema constitute a single whole and not
separate values. All the four values have to be adhered to equally.
Honesty in Business is a form of Social Service
It is often said that to be truthful in business will result in loss. This is not so. Though initially
there may be some difficulties, in the course of time in the long-run, integrity and honesty
bring their own reward. Managers must convince the chiefs in their respective firms how
truth in accounts and audit can raise the image of the firm. They should be content with
reasonable profit margins. Even if this policy does not pay in the beginning, it will be most
rewarding in the long-run. This is the way to inspire confidence. Running a business honestly
must be regarded as a form of social service and spiritual sadhana.
In the practice of Dharma, marketing practices should be fair to consumers and there should
be justice in the dealings with the workers.
In the observance of peace, managers should not get disturbed in difficult situations. They
should maintain their calmness and deal with such situations by using the weapon of love.
2. Ensures long-run survival of the Business: Maximising profits at the cost of the ethical
values brings only short-run success to the company, Long-run success can be achieved
only if business looks after the interests of all the stakeholders along with owners. Ethics and
values bring benefits not only to the business but to the society as a whole.
Learning is thus not an end in itself, but only a means of to help a person grow into
self-consciousness, to make him realize the ultimate Oneness of life.
Swamiji says, “We want to become harmonious beings, with the psychical, spiritual, intellectual,
and working (active) sides of our nature equally developed.
Vivekananda’s philosophy of education has been supported by that of Rabindranath Tagore (7th
May 1861- 7th August, 1941) when he (Tagore) also opined that, “The highest education is that
which does not merely give us information but makes our life in harmony with all existences.”
AIMS OF EDUCATION:-
According to Swami Vivekananda the following should be the aims of education.
The Aim of Reaching Perfection: The main aim of education is to achieve extensive perfection
already in man. Swamiji opined that all material and spiritual knowledge is already present in man
covered by curtain of ignorance. Education should tear off the veil so that knowledge shines
eqqas illuminating torch to enliven all the corners by and by.
Freedom of Growth: According to Swamiji freedom is the first requirement for self-development.
The child should be given freedom to grow, according to his/her own nature. Vivekananda said,
“You cannot teach a child any more than you can grow a plant. All you can do is on the negative
side- you can only help. You can take away the obstacles, but knowledge comes out of its own
nature. Loosen the soul a little, so that it may come out easily. Put a hedge around it; see that it is
not killed by anything else and there your work stops.
Character Formation: Character formation is one of the most important aims of education.
Swami Vivekananda said, “The character of any man is but the aggregate of his tendencies, the
sum total of the bent of his mind. As pleasure and pain pass before his/her soul, they leave upon
it different pictures and the results of these combined impressions is
what is called a man’s character.” The educators should present high ideals before learners. The
best way to develop a character is the personal example of high character set by the teacher. For
character development Vivekananda emphasized on the practice of Brahmacharya which foster
development of mental, moral and spiritual powers leading to purity of thoughts, words and
deeds. According the Swamiji the students should be trained to work hard, formulate good habits
and learn from mistakes. Besides these, character formation requires traits such as thirst for
knowledge, perseverance, faith, humility, submission and veneration etc. According to
Vivekananda, “Without faith, humility, submission and veneration in our hearts towards teachers,
there cannot be any growth in us. In those countries which have neglected to keep up this kind of
relation, the teacher has become a mere lecturer… The true teacher is one who can immediately
come down to the level of the students, and transfer his soul to the student’s soul and see
through and understand through his mind.”
Physical and Mental Growth: One of the important aims of education is physical and mental
development of the child so that the child, after completing his/her education, can become able to
promote national growth and advancement as a fearless and physically well developed citizen of
tomorrow. Stressing the mental development of the child, Swamiji wished education to enable the
child to stand on his own legs economically rather than becoming a parasite on others.
Moral and Spiritual Development: According to Swamiji, a nation’s greatness is not only
measured by its parliamentary institutions and activities, but also by the greatness of its citizens.
But the greatness of citizen is possible only through their moral and spiritual development which
education should foster.
Mahatma Gandhi said that seven things will destroy us. Notice that all of them have to do
with social and political conditions. Note also that the antidote of each of these "deadly sins"
is an explicit external standard or something that is based on natural principles and laws, not
on social values.
The chief query of the immature, greedy, selfish, and sensuous has always been, "What's in
it for me? Will this please me? Will it ease me?" Lately many people seem to want these
pleasures without conscience or sense of responsibility, even abandoning or utterly
neglecting spouses and children in the name of doing their thing. But independence is not
the most mature state of being - it's only a middle position on the way to interdependence,
the most advanced and mature state. To learn to give and take, to live selflessly, to be
sensitive, to be considerate, is our challenge. Otherwise there is no sense of social
responsibility or accountability in our pleasurable activities.
The ultimate costs of pleasures without conscience are high as measured in terms of time
and money, in terms of reputation and in terms of wounding the hearts and minds of other
people who are adversely affected by those who just want to indulge and gratify themselves
in the short term. It's dangerous to be pulled or lulled away from natural law without
conscience. Conscience is essentially the repository of timeless truths and principles - the
internal monitor of natural law.
As dangerous as a little knowledge is, even more dangerous is much knowledge without a
strong, principled character. Purely intellectual development without commensurate internal
character development makes as much sense as putting a high-powered sports car in the
hands of a teenager who is high on drugs. Yet all too often in the academic world, that's
exactly what we do by not focusing on the character development of young people.
In his book Moral Sentiment, which preceded Wealth of Nations, Adam Smith explained how
foundational to the success of our systems the moral foundation is: how we treat each other,
the spirit of benevolence, of service, of contribution. If we ignore the moral foundation and
allow economic systems to operate without moral foundation and without continued
education, we will soon create an amoral, if not immoral, society and business. Economic
and political systems are ultimately based on a moral foundation.
If science becomes all technique and technology, it quickly degenerates into man against
humanity. Technologies come from the paradigms of science. And if there's very little
understanding of the higher human purposes that the technology is striving to serve, we
becomes victims of our own technocracy. We see otherwise highly educated people climbing
the scientific ladder of success, even though it's often missing the rung called humanity and
leaning against the wrong wall.
Religion without Sacrifice
Without sacrifice we may become active in a church but remain inactive in its gospel. In
other words, we go for the social facade of religion and the piety of religious practices. There
is no real walking with people or going the second mile or trying to deal with our social
problems that may eventually undo our economic system. It takes sacrifice to serve the
needs of other people - the sacrifice of our own pride and prejudice, among other things.
If there is no principle, there is no true north, nothing you can depend upon. The focus on the
personality ethic is the instant creation of an image that sells well in the social and economic
marketplace.
You see politicians spending millions of dollars to create an image, even though it's
superficial, lacking substance, in order to get votes and gain office. And when it works, it
leads to a political system operating independently of the natural laws that should govern - -
that are built into the Declaration of Independence: "We hold these Truths to be self-evident,
that all Men are created equal, that they are endowed by their Creator with certain
unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness . . . .”
According to Dr. APJ Abdul Kalam, it is important to emphasize the importance of the role
played by father, mother, and teacher in creating a virtuous person and ultimately a moral and
happy society, which will be able to prevent the danger of corrupt conduct and for all. We
will ensure goodness.
In the early years, a child catches many things just by watching. A child acts on what he sees.
In the early formative years, the effect is reflected in a person’s lifetime. The value that a
person chooses at this stage has a profound effect on the development of behavior. Children
usually consider their parents or teachers as their role models and try to imitate them. If
teachers or parents indulge in bad behavior, then it is more likely that children will adopt and
engage in similar values. Teachers and parents should strive to radiate positive practices.
The family is considered as the primary institution of socialization, as it influences the values
and behavior that make the person interact with other members of society. The dedication of
parents to hard work on sycophancy in office, timely payment of taxes, not jumping the
queue to pay electricity bills, or bribing the head of the temple for easy entry are some of the
examples by which members teach the child important civic values. Day-to-day life becomes
a source of moral education.
APJ Abdul Kalam view on Role of Teachers
The character of the teacher also affects the character of a student. It shapes the student’s
outlook. There are laws to curb any kind of corrupt conduct, but it is not enough if the society
is corrupt. Dr. Kalam regulates virtue behavior from within more than a law to bring our
attention to the role played by individual agents to remove social villains. Parents and
teachers are important players in imparting qualities that make society better.
Parents also have to keep in mind what our child is seeing in today’s digital form. The
ill-effects of the Internet are also responsible for such dirty incidents. There is a need to look
at how he is watching plays and films. Bollywood of today is completely naked except for
patriotism and social issues. Except for a few films, we cannot watch other films with family.
Scenes like nakedness, intoxication, and murder are dominating the mindset of children,
which is having an impact on their real life. This is the reason that our society has become
completely filmy today. We have forgotten to appreciate the values of life because the service
is being filth.
Bribery and corruption are not only against our Company values; they are illegal and can
expose both the employee and Company to fines, penalties, including imprisonment and
reputational damage. At Principal, bribery is never permitted. We will not seek to influence
others, either directly or indirectly, by offering, paying or receiving bribes or kickbacks, or by
any other means that is considered unethical, illegal or harmful to our reputation for honesty
and integrity. Employees and representatives of the Company are expected to decline any
opportunity which would place our ethical principles and reputation at risk. While certain
laws apply only to bribes to government officials (domestic and foreign); this Policy applies
to non-government business partners as well.
2. Privacy policy
A privacy policy is a statement or legal document (in privacy law) that discloses some or all
of the ways a party gathers, uses, discloses, and manages a customer or client's data. Personal
information can be anything that can be used to identify an individual, not limited to the
person's name, address, date of birth, marital status, contact information, ID issue, and expiry
date, financial records, credit information, medical history, where one travels, and intentions
to acquire goods and services.
The right to privacy in social media has been protected in India even before privacy
was even recognized as a fundamental right. The Information Technology Act, 2000
is considered comprehensive legislation dealing exclusively with the aspects of
privacy in the realm of cyberspace.
Cyber Threat: A cyber or cybersecurity threat is a malicious act that seeks to damage data,
steal data, or disrupt digital life in general. Cyber threats include computer viruses, data
breaches, Denial of Service (DoS) attacks, and other attack vectors.
Cyber threats also refer to the possibility of a successful cyber-attack that aims to gain
unauthorized access, damage, disrupt, or steal an information technology asset, computer
network, intellectual property, or any other form of sensitive data. Cyber threats can come
from within an organization by trusted users or from remote locations by unknown parties.
Malware
alware (malicious software) is software that has been specifically designed to perform
M
malicious tasks on a device or network, such as corrupting data or taking control of a system.
Spyware
pyware is a form of malware that hides on a device providing real-time information sharing
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to its host, enabling them to steal data like bank details and passwords.
Phishing Attacks
hishing attacks are when a cybercriminal attempts to lure individuals into providing
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sensitive data such as personally identifiable information (PII), banking and credit card
details, and passwords.
istributed denial of service attacks aim to disrupt a computer network by flooding the
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network with superfluous requests from a botnet to overload the system and prevent
legitimate requests from being fulfilled.
It’s a good idea to consider trusted security software like Norton 360 with LifeLock Select,
which provides all-in-one protection for your devices, online privacy, and identity, and helps
protect your private and financial information when you go online.
Don’t repeat your passwords on different sites, and change your passwords regularly. Make
them complex. That means using a combination of at least 10 letters, numbers, and symbols.
A password management application can help you to keep your passwords locked down.
This is especially important with your operating systems and internet security software.
Cybercriminals frequently use known exploits, or flaws, in your software to gain access to
your system. Patching those exploits and flaws can make it less likely that you’ll become a
cybercrime target.
Keep your personal and private information locked down. Social engineering cybercriminals
can often get your personal information with just a few data points, so the less you share
publicly, the better. For instance, if you post your pet’s name or reveal your mother’s maiden
name, you might expose the answers to two common security questions.
It’s a good idea to start with a strong encryption password as well as a virtual private
network. A VPN will encrypt all traffic leaving your devices until it arrives at its destination.
If cybercriminals do manage to hack your communication line, they won’t intercept anything
but encrypted data. It’s a good idea to use a VPN whenever you a public Wi-Fi network,
whether it’s in a library, café, hotel, or airport.
If you do business with a merchant or have an account on a website that’s been impacted by a
security breach, find out what information the hackers accessed and change your password
immediately.
Identity theft occurs when someone wrongfully obtains your personal data in a way that
involves fraud or deception, typically for economic gain. How? You might be tricked into
giving personal information over the internet, for instance, or a thief might steal your mail to
access account information. That’s why it’s important to guard your personal data. A VPN —
short for virtual private network — can also help to protect the data you send and receive
online, especially when accessing the internet on public Wi-Fi.
Online Shopping
Online shopping is a form of electronic commerce which allows consumers to directly buy
goods or services from a seller over the Internet using a web browser or a mobile app.
Identity theft
This usually involves cybercriminals hacking into e-commerce websites and stealing users’
login or credit card details. It enables them to either impersonate users to make fraudulent
purchases or sell personal details to other criminals online.
Unfortunately, not all e-commerce sites are genuine. Scammers may set up fake websites
designed to look like established, genuine retailers. They copy design and layouts and steal
logos to trick unsuspecting users into thinking they are visiting a trusted website. They may
offer popular clothing brands, jewellery, and electronics at low prices. Sometimes users
receive the items they have paid for, but they are usually fake. Other times, users don’t
receive anything at all.
Unencrypted data
Some websites don’t encrypt data. If they don’t have an up-to-date SSL certificate, they are
more vulnerable to attacks.
Data breaches
When you shop online, you share sensitive information with retailers, including your bank or
credit card details, contact information, and address. If hackers gain unauthorised access to an
e-commerce website, there is a risk that your information could be exposed in the event of a
data breach.
Fake reviews
Many online shoppers read reviews before they buy. But be aware that not all online reviews
are genuine. If a particular retailer has a pattern of reviews that seem too good to be true or
lack detail, try to check the source and listen to your instincts.
Fake apps
Many genuine online retailers have dedicated apps. Cybercriminals sometimes try to mimic
them by creating fake versions. They aim to harvest your personal information such as bank
or credit card details, plus usernames and passwords.
Unsecured Wi-Fi
If you carry out online shopping transactions on an unsecured Wi-Fi network, there is a risk
that hackers could obtain the personal information you submit, such as your credit card
details and contact information.
Adware
Adware refers to unsolicited ads that pop up on the screen when browsing the internet.
Adware is a contraction of ‘advertising software’, and its purpose is to generate revenue for
its owner. Adware can be legitimate but can also be used by cybercriminals for fraudulent
purposes – for example, luring you to malicious websites which try to obtain your personal
information. Sometimes, closing the pop-up ad by clicking on the ‘X’ symbol can itself cause
an infection.
Phishing
This involves scammers sending fake emails which appear to be from a genuine retailer. The
emails usually contain an attachment or a link designed to trick the receiver into clicking
them – usually, doing so launches a malware infection.
Today’s India is bold and ambitious, seeing eye-to-eye with the Global North. It is a nation that
has big dreams and works hard to achieve those dreams. This volume is a tribute to India that has
traversed a long way over the last 75 years and aspires to reach even greater milestones. It is also a
tribute to the millennial India that understands its priorities for the next 25 years and is gearing up
to face and overcome its challenges. The last few years have witnessed changes in developmental
governance in the country through some key policy interventions. These interventions are largely
embedded in the Sustainable Development Goals (SDGs) that are today regarded as the bedrock of
not just global developmental governance, but governance at all levels.
Some of the government policies designed for sustainable development of India are as follows:
POSHAN Abhiyan, which strives to minimise the level of stunting, undernutrition, anaemia, and
low birth weight babies. In this chapter, Shoba Suri outlines the significance of the programme, its
achievements so far, and its imperatives in the form of a plot structured, time-bound and
location-specific strategies with due consideration to the consequences of socioeconomic factors
and the impact of the pandemic. Pradhan Mantri Jan Arogya Yojana, which entails the world’s
largest health assurance scheme, with the objective of providing a health cover of INR 5 lakh per
family per year for the poor and vulnerable households. Oommen C Kurian discusses the
programme and uses a small case study on its beneficial impact and how such a scheme is a
replicable model for many other parts of the world. Jal Jeevan Mission, which aims to provide
access to safe and adequate drinking water by 2024 to all households. Sayanangshu Modak draws
the connection and causal relationship of this mission to various health and productivity-related
outcomes, and discusses how it will have an impact on the overall progress of the nation.
Samagra Shiksha Abhiyan, which presents an overarching and comprehensive programme for the
school education sector with the broader goal of improving school effectiveness, measured in
terms of equal opportunities for schooling and equitable learning outcomes.Malancha
Chakrabarty, while describing the broad contours of the programme, argues how it helps facilitate
the achievement of the human capital-related SDGs. She underlines its resonance with the
thinking of Indian intellectuals.
National Skill Development Mission, which is driven by the objective of bridging the necessary
‘skill gap’ in the Indian economy. Sunaina Kumar, while introducing the wide chasm between the
demand and supply of skilled human capital to address the gap between Indian economic ambition
and achievement, highlights the significance of the programme. She outlines what needs to be
done to make this programme more effective for building a sustainable India.
Mahatma Gandhi National Rural Employment Guarantee, which aims to enhance livelihood
security in rural areas by providing at least 100 days of wage employment in a financial year to at
least one member of every household whose adult members volunteer to do manual work. Soumya
Bhowmick examines how this has offered a cushion to vulnerable communities during times of
crisis, including the pandemic. He reiterates how it helps address the SDGs related to poverty
alleviation and food security.
National Smart Cities Mission, which is an urban renewal and retrofitting programme with the
objective to develop smart cities across the country, making them citizen-friendly and sustainable.
Aparna Roy evaluates how the mission can help urban centres emerge as hubs of future regional
development and economic growth and be resilient to the shocks of climate change.
Swachh Bharat Abhiyan is a significant cleanliness campaign which aims to eliminate open
defecation and improve solid waste management. Mona discusses the world’s largest sanitation
campaign and highlights its achievements.
Secular and Spiritual Values in Management
Secular values: Secular values, as opposed to traditional values, base morality on human faculties
such as logic, reason, or moral intuition, rather than on purported supernatural revelation or
guidance (which is the source of religious ethics).
Secular values originated from secular ethics. Secular ethics is a branch of moral philosophy in
which ethics is based solely on human faculties such as logic, empathy, reason or moral intuition,
and not derived from belief in supernatural revelation or guidance—the source of ethics in many
religions. Secular ethics refers to any ethical system that does not draw on the supernatural, and
includes humanism, secularism and freethinking.
Spiritual Values: Spiritual values at work means that the individuals and organisations consider
working in a spiritual path, in an opportunity to grow and contribute to society in a meaningful
way, attempting to live their values more fully in the work they do.
Consciousness: The spiritual value for managers suggests having a higher level of
consciousness, which means that a manager must be aware of positive and negative effects of
his action and decisions undertaken, which are consciously performed.
Spiritual values in terms of divine qualities: There are number of divine qualities which are
present in an individual and can be termed as spiritual values e.g. respect for self, respect for
god, belief in giving than grabbing, enjoying satisfaction to maximum level. All these factors
present the divine qualities.
There are three levels of success that can measure value implementation.
1. Acceptance of the values amongst management with the support of upper management.
2. Acceptance of values amongst management even without the pressure of top management.
3. Each manager believes in the values of the company and accepts it as his own values. The first
stage can happen fairly rapidly but the second and third stages take a long time to develop. They
indicate a mature company that can grow at increasing speeds.
2. It deals with moral issues: Companies have specified policies and programmes to look after
interests of their employees and other stakeholders. These programmes are devised from the need to
do what is right and just for the society as a whole.
3. It is commensurate with the objective of profit maximisation: Social goals are discharged by
organisations which are economically sound. A financially unviable enterprise cannot look after the
interests of the society. In fact, costs of social responsibility are passed to consumers in the form of
increased prices of goods and services.
4. It is a pervasive activity : Social responsibility is not just the obligation of top level managers.
Managers at all levels are involved in discharging social responsibilities.
5. It is a continuing activity: Social responsibility is not catering to the interests of society once or
twice. It is important for organisations to continuously engage in social issues if they want to survive
and grow in the long-run. The economic and the social issues, in fact, go hand in handA hierarchy of
the extent to which business units discharge social responsibilities is developed by R. Joseph Monsen.
Starting from the lowest level, there are four levels of hierarchy.
Levels of CSR
1. Obeyance of the law: Managers feel they are discharging social responsibility by merely obeying
the law.
2. Catering to public expectations: Social responsibility goes beyond merely obeying the law. In
addition to abiding by legal framework of the country, social responsibility also caters to public
expectations from the business enterprises (for example, providing job opportunities, quality goods,
controlling pollution etc)
3. Anticipation of public expectations: At a still higher level, business firms not only fulfil what
society expects from them but also anticipate needs of the society and devise programmes to fulfil
those needs.
4. Creation of public expectations: At the highest level of hierarchy, managers not only cater to
public demands but also set standards of social responsibilities and want the society to be benefited by
those standards.
Corporate Governance
Corporate governance is the system by which companies are directed and controlled. Boards
of directors are responsible for the governance of their companies. The shareholders' role in
governance is to appoint the directors and the auditors and to satisfy themselves that an
appropriate governance structure is in place.
It is the system of rules, practices, and processes by which a firm is directed and controlled.
Corporate governance essentially involves balancing the interests of a company's many
stakeholders, such as shareholders, senior management executives, customers, suppliers,
financiers, the government, and the community.