Values, Goals and Standards are impor-tant factors in the management process. Values are the key to all motivating factors in human behavior. Value, as a concept is vague and subjective although it is very important to an individual. Values grow out of human desire and interest. Values differ in cultures. The family has the major responsibility for fostering values among the members. The term “value” signifies the meaning or definition of worth that is attached to any object, con-dition, principle or idea. Values provide a basis for judgement, discrimination and analysis and it is these qualities that make intelligent choices possible between alter-natives. Thus, values are the fundamental forces that force or motivate human activ-ities and endeavors.
According to Gross and Crandall (1980) a value is always important to the person who holds it. It is desirable and satisfying. It has the ability to develop in self-creative way and it tends to endure. It is a concept of the desirable, explicit or implicit which governs our choice of methods, modes or goals.
The following are the motivat-ing values of human behavior-comfort, health, ambition, love, desire for knowl-edge, technological satisfaction, play, art, religion.
Intrinsic or Instrumental: An intrin-sic value is one that is important and desirable simply for its own sake. It is worthy of being sought for itself alone. Honesty, co-operation, creativity, beauty, discipline, respect etc. are some of the intrinsic values in management. On the other hand, instrumental values are ways of reaching intrinsic or end values, sometimes called goal values. Therefore, they form the basic values leading to another. Planning, skills, order and efficiency and tech-nological satisfaction are examples of instrumental values.
Factual and Normative Values: The other classification of values as factual or normative brings out the difference between the factual values that exist, regardless of their level of desirability and the normative values that have an ethical basis. The factual values also called descriptive, generally are based on people’s preferences and desires. The normative are ethical values, which carry the idea of right or wrong. Some examples of factual values are honesty, religion, loyalty, faithfulness.