Values are basic convictions about what is right and wrong. Usually values would influence the attitudes and behaviors of business person for their decisions making. Values on the part of business are Operating philosophies or principles that guide an organization's internal conduct as well as its relationship with the external world. Whereas attitudes are predisposition or a tendency to respond positively or negatively towards a certain idea, object, person, or situation. Attitude influences an individual's choice of action, and responses to challenges, incentives, and rewards (together called stimuli). Four major components of attitude are:
(1) Affective: emotions or feelings;
(2) Cognitive: belief or opinions held consciously;
(3) Conative: inclination for action; and
(4) Evaluative: positive or negative response to stimuli.
The values that may have contributed to areas like the “Valley of Death” may be profit motives of entrepreneurs, cut-off of cost, constantly increasing productivity, regarding government intervention as a threat.
In certain countries ethics comes on a poor second when it comes to doing business successfully. "Successfully" here means generating large amounts of profits. For this purpose the business houses need to expand their territory, coverage and products to capture large chunks of the market. Creating a base for such activities can be done in two ways: Go the hard way - advertise, consolidate, build brand and image in the national and international market segment you prefer. This involves money, effort and tremendous perseverance; Go the easy way - bribe your way through government and other corridors which would help you create a niche market almost overnight. Often the amount of money and efforts spent on bribes is less than. Corporate houses feel that their stakeholders would appreciate the fact that they generate wealth for them - by whichever means. While it is true that the public does like a hike in the...
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