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Human values result in Economic value Creation
Highlights
Value creation involves people who perceive values in their everyday life. Every human being expects economic value by performing various activities. If people are educated in human values, it results in the creation of economic value. Hence, human values are an essential component in every economy.This fact is completely ignored by most of the learned people since ages. If the human values are not strong enough, to support the economy, the collapse is certain, whether it is a small organization or a big one, likethe downfall of Lehman brothers in United States in 2008.
Value creation involves people who perceive values in their everyday life. Every human being expects economic value by performing various activities. If people are educated in human values, it results in the creation of economic value. Hence, human values are an essential component in every economy.This fact is completely ignored by most of the learned people since ages. If the human values are not strong enough, to support the economy, the collapse is certain, whether it is a small organization or a big one, likethe downfall of Lehman brothers in United States in 2008.
The people of the entire world were affected by the above American crisis and also by many other scams in other countries. It is primarily because of ignoring human values in day to day life. If people adopt values, the question of a crisis does not arise. If we look at the data of the last 5 years, from 2008 to 2014, the world was full of crises across all the nations. It started with the sub-prime lending, Satyam scam,the Euro crisis, the Greek bailout, and the present devaluation of Yuan currency by China. The trend of economic disasters started from the great depression of 1920, then it is continuing until present times, i.e. almost 100 years.
How does a crisis strike an economy all of a sudden?The evident answer is “no and never”. If we look into the basic causes of these crises which have taken place so far, we observe that it is mainly because of Nature, geographic factors, the government policies and controls, the politicians,the professionals working in the financial markets, etc.. These events occur because of the greed of one or two individuals.The people across the globe are struggling since years to survive and to create value for themselves.
Is there a nation across the globe with values imbibed in its genes?This is a very important question to be answered. Let us presume that entire population of a country respects values, in such a case there will not be any question of crises, rather we can see a jump in the happiness index of that economy. On the contrary we have examples of Enron, Satyam Computers etc., which lacked leadership values.
It also took place due to the investment bankers in financial markets, most of them who pass out from premier institutions across the globe. These sly investors are also called “rogue investors”, who do not have any values, who ruin the economy for selfish reasons, and the majority has to suffer and struggle to create value for the revival of the economy.
The individual values of great people like Steve Jobs, Bill Gates, Ratan Tata, Azim Premji and Abdul Kaalam, created economic value.Some developed economies are struggling to survive after the market crashes in Wall Street. On the other hand, some developing economies are struggling to survive due to the evils of black money and corruption. A question crops up here: is there a ‘value based Economy’ which is consistently sustaining people?
Across the globe some highly qualified professionals are implementing better strategies to maximize economic value. The governments are implementing various policies to create economic value. Bankers of various countries are extending their support to different sectors to create economic value. Simultaneously regulators are tightening the rules to add economic value. Finally, in an economy all stakeholders are trying to create economic value; but there are some individuals who give up their individual values for selfish reasons, due to which all the stakeholders of the economy are losing their economic value.
To conclude,the people should implement their individual values in order to create the economic value.
Authors:M.Chandra Shekar Prof.R.K.Mishra
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