Social values are a set of principles that are morally acceptable by society. These principles are created by the dynamics of the community, institutions in the society, traditions, and cultural beliefs of the people in the society. The laws are a guide for people in society on how to conduct themselves appropriately.
Social Values in Business
You will continually form values throughout your life base on the people and culture in your society. Values will shape the way that a society behaves. This guarantees a coexistence between the participants in the community.
Values will provide you with boundaries, it will indicate to you what is considered right and what is considered wrong according to the society that you are living in. It will suggest to you what is allowed, what is not allowed, what is illegal, what is desirable, what is legitimate, or what is punishable. The only way you can positively function is by a collective agreement, either explicit or implicit, that clarifies the rules in a way that everybody knows and understand. Everyone will understand their boundaries.
You need social values in businesses to maintain relationships with the employees and other businesses in the society. If your company conducts business in a way that is not accepted by the common social values of the community, then that business will isolate themselves from their consumers. In not adhering to the social values of an organization, you could end up destroying your own business.
Governments and laws are usually put in place to protect the social values and to enforce the procedure. The judiciary system and government institutions have the functionality of maintaining and enforcing these social values.
Examples of Social Values
Example 1
A finance company offers clients the ability to buy shares and retirement annuities with them. The company makes use of different methods to increase the values of that they provide to their clients.
A rumor started that this company deals in unethical practices, and the society is concerned about the possible illegal activities that the company sells. The government established a commission to investigate these violations. After reviewing the cases, the government found that the company implements criminal procedures when investing their customer’s money. These findings led to the company’s dismantling and further disappearance since it contradicted essential social values.
Example 2
A wine farm operates a guest house on the farm, people enjoy the fact that they can stay on the farm and do not have to drive home after having a few glasses of wine.
After a virus outbreak, the farm had two international couples staying in the guest house that couldn’t fly home. The guest house didn’t charge the additional guest money. It assisted the guest in getting the correct documents to fly back to their home countries.
The guest house decided that it can support the government even further during this virus outbreak. They offered to provide food to people in need, they have the facilities. They could use government assistance in delivering food to the needy.
This guest house and wine farm are livening up to its social values, they are going above and beyond to support and sustain the society that they work in. A company like this will be treated with respect, and customers will recommend this company because the company has social values.
Social Values Conclusion
- Social values are a set of principles that are morally acceptable by society
- Values shape the way that society behaves, to guarantee a coexistence between the participants in society.
- Governments and laws are usually put in place to preserve the social values and to enforce the procedure.
- You need social values in businesses to maintain healthy relationships between co-workers and between the company and society.
- A company can abide by the social values of society, or it can go against the values of society.
FAQs
1. What are Social Values?
Social Values are a set of principles that are morally acceptable by society. These values shape the way that society behaves, and they guarantee a coexistence between participants in society.
2. Why is Social Values important in business?
Social Values are important in businesses to maintain healthy relationships between co-workers and between the company and society.
You need these Social Values because if your company conducts business in a way that is not accepted by the common Social Values of the community, then that business will isolate itself from its consumers.
3. What is a good social value?
A good social value is a business that supports a cause in a positive way. This means that a business can abide by the Social Values of society, or it can go against the values of society.
4. How does Social Values affect business?
A company can have strong Social Values, and if it abides by the moral standards of society, then that business will be in a good position. People will support this business because they know that by supporting it they are encouraging these positive values to stay with the community.
5. What does social value look like for a business or provider?
A company and/or provider in need of Social Values should consider how they can show their gratitude for what they have. They can do this by giving back to the community by helping with events and fundraisers, supporting a cause or simply donating time or resources to help others.
