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Sources of Value in Decision-Making

Family, social circles, personal experiences, and culture are the main sources of an individual's values according to the document. Values are largely established early in life through parents, teachers, and friends, but can also be influenced by other sources like media and books as people age. While values tend to remain stable over time, it's important to periodically check that one's values still align with their current life circumstances and priorities which are subject to change.

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Phan Linh
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42 views1 page

Sources of Value in Decision-Making

Family, social circles, personal experiences, and culture are the main sources of an individual's values according to the document. Values are largely established early in life through parents, teachers, and friends, but can also be influenced by other sources like media and books as people age. While values tend to remain stable over time, it's important to periodically check that one's values still align with their current life circumstances and priorities which are subject to change.

Uploaded by

Phan Linh
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

SOURCES OF VALUE

- We divide sources of value into 4 factors:


+ Family factors: Family is a great source of values. A child learns his
first value from his family. For example, as children, we are told
certain behaviors or outcomes are always desirable or always
undesirable.
+ Social factors: friends, school, relatives, colleagues, organization,
community.
+ Personal factors: experience
+ Cultural factors: religion, history

- A significant portion of the values we hold is established in our early


years – by parents, teacher and friends.
- There are many other sources from which we can acquire different
values such as media or books.

- Generally, values tend to be relatively stable and enduring.


– Sources of value are a comprehensive guide to financial decision-
making suitable for beginners as well as experienced practitioners.
– It treats financial decision-making as both an art and a science and
proposes a comprehensive approach through which companies can
maximize their value

Question: How to adapt and change the values when needed?

Your personal values aren't set in stone. While some of your core values
will probably stay the same throughout your life, others may change as
your life circumstances change or simply as you get older and start to have
a different view of what’s important. Or even if the values stay the same,
the order in which you prioritize them may shift.
So it’s worth checking in regularly to see if your values have changed.
Repeat the process of brainstorming, listing and prioritizing, and see if your
results are different.

For example: starting a family and having children to take care of may
cause you to value security and financial stability more highly than you did
when you were single. Or a divorce may result in a renewed desire for
freedom and self-discovery.

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