Concept of Social Values
Social values mean the moral standards by which members of a society judge the behavior of each other. Values determine what is right or wrong or what people consider goods or bad behavior. With regard to business, social values include the following: (i) The features of good business, (ii)The objective which business should pursue, and (iii)The manner in which businessmen should perform their affairs in the best interests of the society and on the basis of sound moral principles.
According to the prevailing social values, businessmen should not sell adulterated products nor should not juke false weights. They should pay fir wages to employees and right amount of tax to the government.
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