Social Values

Introduction

Every society generally views certain activities, conduct and behaviour of its members to be undesirable or harmful to others. Similarly, desirable acts and conduct of people are recognized and appreciated in society. Social values refer to the general recognition in society about which acts are good and desirable on the part of people and which acts are not. In relation to business, social values of business may indicate:

a. The characteristics of good business; b. Objectives which are desirable for business to follow; and c. The manner in which business activities should be conducted in the interest of society.

For example, we consider it bad, if any business indulges itself in selling adulterated goods or charging higher price or polluting the environment. Thus, social values of the business form the base for social responsibilities.

Business can also be guided by certain moral principles say, running the business without adopting unfair practices, being honest and truthful about quality of goods, charging fair prices, abiding to laws, paying taxes, duties and fees to the government honestly. The basic question underlying business ethics is whether business should aim at earning profit by any means, obviously not. Thus, businessmen should charge only fair price for the goods and services supplied, never sell adulterated products as pure. Indeed business ethics suggest certain principles to conduct business so as to be morally justified. Just like social values, business ethics also play a major role while fulfilling social responsibilities.

Definition of Social Values

Larger concept which includes social capital as well as the subjective aspect of citizens’ well-being, such as their ability to participate in making decision that affects them.

Social values can also be defined as principals and standards