Traditional management has frequently denoted success as maximization of profit. This has frequently led to executives propping up company bottom line in the short run to show results which are discernible on the stock exchange. (Pohlman. Gardiner. : 2000). This ignores the human process of management, which implies personal and organizational growth as well as profits. Management has been traditionally defined as the art and science of maximizing the functions of planning, organizing, direction leading, and controlling.
(Jones. George. 2006). However over the years there is an increased recognition of the importance of the manager as a person. (Jones. George. 2006). As an individual, a manager has strengths, weaknesses, opportunities and faces problems. Understanding each of these facets is as much a role of good management as coordinating other resources. Apart from this every organization has to establish its code of ethics.
Managers may face ethical dilemmas in their functioning and will have to tackle these in the best interests of the company’s stake holders in a proactive manner. Value driven management is determined by an understanding of ethics and the requirements in the long term for the overall benefit of the organization. Overall growth is achieved when personal satisfaction goals are aligned with ethics and values.
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Value driven management attempts to rationalize profit oriented organizational perspective with the personal viewpoint which drives people to contribute to administrative as well as personal growth through factors as self respect, respect for other people, acceptance of responsibility for one’s actions and a willingness to take risk. (Pohlman. Gardiner. : 2000). Since job satisfaction and happiness is the choice of every individual, value driven management can support an individual to further his personal satisfaction aligning it to organizational value.
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