(2) It Corresponds to Basic Human Value : Manager knows that his decisions can affect thousands of individuals. So, there should not be any place for biasness. One should not think of an individual interest. We should help and cooperate everybody without any favour or grudge. Opportunities and responsibilities should be same for all the employees at same level.
(3) Helpful in Decision Making : Another point of great importance is that trans-cultural values help the managers make better decisions i.e. the decisions which are in the interest of public, their employees and the company’s own long term good. This is so because respect for ethics will force a management to take various aspects-economic, social and ethical in decision making.
(4) Profit Earning: A company which is inspired by trans-cultural values is also a profitable one. Value driven companies are sure to be successful in the long run, though in the short run, they may Lose money.
(5) Management Credibility with Employees: Trans-cultural values are supposed to be a common language to bring leaderships and its people together. Organizational values when perceived by employees as genuine create common goals, values and culture.
(6) Clear Objective: The organisation should make the objectives of the company clear so that even a layman can understand it. If the objectives are not clear, then lower level management cannot achieve these objectives efficiently. It can affect the productivity of the employees at operational level. Clear objectives are helpful in reducing disputes and conflicts.
(7) Self Discipline it is very important to control one’s own mind before controlling others. A manager should take decisions with cool mind and self discipline. A manager should properly be disciplined which includes arriving on time in the organisation, optimum use of working hours, not wasting other’s time. If a manager expects discipline from others, then, he must demonstrate it first to his subordinates.
Indian Cultural Values : According to Indian culture values, there are three ‘purusharthas these are:
(1) Karma: The first purushartha is Karma i.e. desire constitutes the entire range of cravings and satisfaction at the sensory level.
(2) Artha : The second purushartha is Artha i.e. wealth which is the instrument for the satisfaction of the Karma.
(3) Dharma The third purushartha is Dharma which means ethical sense and which helps to maintain discipline and regulate the pursuit of the first and the second so that all the persons in a society get the opportunity to satisfy their urge for them. Dharma is essentially a by-product of man’s inner growth and spiritual growth.
Conclusion : When man as a person becomes an employee of public service institutions, human values, become manifest and qualitatively enrich the work of these institutions. Such a person will not think himself as a mere employee, but a free citizen of India to perform a particular service to the people. This is the philosophy of work taught in Bhagwad Gita, one of the famous Indian epic. If our people as a whole are inspired with self respect, a sense of honour, self discipline and all our managers and employees are drawn from that common pool of citizens.
Q.6. What is value based management? Discuss its relevance in global change.
Or What is the relevance of values in managing organisation? Discuss the need of new values in global change. How value based management can be promoted?