Values provide a framework for making choices between desirable and undesirable responses. Values also refer to priorities that an individual assigns to multiplicity of goals. These thus provide direction to and determine intensity of individual responses. The stronger the value system, the more intense will be the action in pursuit of that value. For an organisation to achieve unity of action amongst diverse employees, it is imperative for them to articulate core values and find adherence to those values through every individual. The core values of an organisation are derived from the vision and expectations of strategic stakeholders.
As organisations struggle to survive in a highly uncertain and turbulent environment, they have no option but to carve out a space for themselves in the global economic order. Organisations could no longer afford to remain passive recipients of environmental forces; on the other hand their sustained growth will depend on becoming active agents in transforming the environment to make it conducive to provide expression to their ideas and intentions. It is these compulsions that have led most organisations to develop vision and articulate a set of values providing focus on their responses to the demands of internal and external stakeholders.