Values and Attitudes:
Values are expressed in terms of attitudes, which, in turn, give direction to one's responses. For example, a Professor who believes strongly in the work ethics will tend to exhibit certain attitudes towards students and methods of studies as a means of reflecting this value.
In the pre-liberalisation era, value system in organisations grew primarily out of the societal value system. The organisations were thus microcosms of the larger society. In the current and emerging scenario, organisations required to make deliberate choice along with regard to developing value systems that would enable them to gain and manage competitive edge.