| Abstract: | Every year I try to choose the “word of the year”—that is, the word that will be the most topical and overused in the news, politics, and business. Past “words of the year” were leadership, excellence, quality, and so on. This year's, without a doubt, must be values. Just listen to any political speech and you'll be sure to hear it! Magazine article after magazine article makes reference to values—family values, social values, public values, personal values, etc. Business is beginning to experience first-hand the power of this word and the controversy it engenders, especially in the area of environmental issues. Corporations already heavily scrutinized by the public on operational issues like facility expansion, pollution, emissions, product acceptance, etc., are struggling to assess how best to manage competing public values. What do we do when the public has one value and business has another? Or, how can choices be made between two operating needs that compete for the same budget? It is the dilemma posed by values in conflict that this article explores. Once the domain of scholars and philosophers, this timely topic is now demanding the consideration and awareness of everyone in the business world. |
