Values

Value is a person characteristic and defines personal
standard. In simple words, it reflects what is more important/valuable for an individual.
It is highly subjective to a person and what is important to one may be insignificant/less
important for the other. One important
characteristic of value is that it can change from time to time. What I
value today may become less valuable for me tomorrow. Some examples of value
are: self-respect, peace, loyalty, influence, humour, honesty.

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Morals

Morals are the beliefs of a society to differentiate between
right and wrong. So it is a characteristic of one’s religion, politics and
business. Therefore a person can be moral as well as immoral from a perspective
of a society. Morals motivate us to lead a good life. Morals generally get
formed from the innate values of a person. In simple words, morals are the set
of dos and don’ts that our elders expect us to follow but ultimately what we
follow defines our morality. Morals
remains same throughout one’s life and do not change with time.

Ethics

Simply put, ethics are generally accepted moral values in
context of a profession and business. So it gives us the right code of conduct
while working in a group. A person can violate ethics in order to be morally
correct. Else, he can follow ethical rules and be immoral. Ethics are generally
legal guidelines within a particular space and time. There are three types of
ethics:

·        
Descriptive ethics

·        
Normative ethics

·        
Applied ethics

A real
dilemma from my life differentiating ethics, values and morals

Before joining MBA, I was working as an Investment Banking
Analyst. During a project with the EMEA team, unintentionally I delivered the
project to the US team. I immediately requested the US team to delete that
e-mail and send me a written acceptance of the same which they gracefully did. I followed the organisational ethics and as
per the compliance norms, I reported the incident to my manager and the
compliance team. Now I was in dilemma that should I inform this to the EMEA team as well or not. I was not legally
required to do so. My staffers and manager advised me not to do this as it
gives a bad impression of our team and is not a compliance requirement.  But my
morals were pushing me to report this to EMEA team because they had been
working very hard on this important project for a long time. This moral was flowing from my value of honesty which is very important for me.
Subsequently, I informed the same to the
EMEA team following my morals. I had to convince my staffer/manager with
the fact that the project is more important and the onshore team can assess the
possible threats of this incident and take the required measures so that the
project is not impacted.

 

PART B: My
values

1.       Honesty: This has remained my foremost
important value since the very beginning. Honesty means non deceptive or
fraudulent. It makes one worthy of being dependent upon. For me honesty means
truth.

·        
Why:
In today’s corporate world, one needs to be effective while working in a group.
Also, it is very important to maintain long term relationships with the
customers, vendors and all the stakeholders in the supply chain. According to
my understanding, the glue that binds everyone together is honesty. The trust
amongst all the people involved is very important and hence being honest is
what I feel is a must.  

·        
How:
It is difficult to be honest every time but not impossible. There are times
when some information is kept hidden from the client till the very end which
gives short term gain but has a negative impact in long run. As an honest employee, one should voice against
such practices if being followed in his/her company. This may be difficult
initially but with constant efforts it can be done. This will also help to
maintain the integrity of the organisation.

 

2.       Peace: For me peace is the freeness of
mind. It is a state of mental wellness with no stress and anxiety.

·        
Why: Competition
is increasing day by day. In order to excel, people are pushing themselves
beyond their limits. It is being taught to us that people only remember the
winner and not the runner’s up. In this rat race, one thing that we lose is our
mental peace. For me it is very important to be mentally well and be satisfied
in whatever you achieve. Achievement has no limits and it is better to enjoy
what you have on your plate. My grandmother says, “If you feel that you have got less in life, then, see people around you
who are deaf or blind. You will be grateful for what you have”

·        
How:
It is a practice of controlling the negative thoughts and focusing on the
positive ones. Yoga and meditation helps a lot and provides additional health
benefits. Also, taking to your close friends/relatives and sharing any negative
feeling helps to decrease the stress providing the internal peace and
satisfaction.

 

3.       Self-Control: Put simply, self-control
is the self-regulation of your actions so that everything is within discipline.
The ability to assess the limits and remain within the same is what self-
control is all about. Example: Many of my friends drink alcohol and force
me to drink as well. But I have sufficient control to tell them no because I
know what is wrong/right for me and hence I can control myself.

·        
Why: It
is very important to understand the minima and maxima of everything you do. It
helps to avoid any unwanted actions resulting in embarrassment and loss of
self-respect. Our parents have given us so much freedom based on the fact that
they believe that we have a sufficient control on ourselves. So they expect us
to show some self-control at this age. Hence, it is important for us to keep
enhancing our degree of control on ourselves with time.

·        
How: One
should always assess the negative and positives of each action before doing it.
This helps us in understanding the consequences and hence the limits. Another thing
one should learn is to say ‘no’. Sometimes because of flow we tend to do things
which we did not want to do initially. So saying no to your friends helps in
such cases.

 

4.       Responsible: The ability to take the
ownership of an event/project and executing it successfully is what responsibility
means to me. It makes one worthy of being dependent upon. It is a foremost
requirement throughout the life (responsibility as a son/daughter, as a student,
as an employee, as a parent, as the head of the family).

·        
Why: Being
responsible matters a lot while doing anything. Unless one is ready to take all
the blame and repercussions of a project on his/her own shoulders, he/she will
not be able to do justice to the work. Responsibility motivates people to work
harder and get the best out of them. At the same time, it helps to build the
credibility of a person.

·        
How: One
should have a clear picture regarding his/her role to be responsible. First of
all, a person should stop complaining about the roles given to him. Also one
important thing that one should practice is to avoid procrastination. We should
also understand how all stakeholders are dependent on us so that we can take appropriate
and responsible decisions taking care of everyone.

 

5.       Justice: The ability of being just and
fair with everyone in your circle.

·        
Why: This
is very much important when it comes to leadership. A person heading a team
should be fair to each and every subordinate.  It motivates the team if the leader is
unbiased and clear to everyone

·        
How: Appreciating
the efforts of good performers and at the same time giving genuine feedback regarding
their shortcomings in a fair manner is a practice that every manager should
follow.