Value-Based Management

Abstract

Much has been written about values and ethics in management. Much of what has been written, however, is either in the ethereal realm of the metaphysical or in the netherworld of the cynical. The debate swings between cliches about “What ought to be done” on the one hand and selfdefeating pronouncements that ”Nothing can be done” on the other. For entrepreneurs and managers, the critical question appears to revolve around the economic viability of value-based business and management.Most people spend their lives dreaming of doing, some others talk of doing but it is given only to a few to do, to dare, to demonstrate that it can be done. Amol Karnad belongs to the last category. His account of how his company has been adhering unflinchingly to the tenets of value-based management without in any way losing out on the business front is a moving account of how values can be integrated with the management of organizations.