A value system is a set of consistent ethic values (more specifically
the personal and cultural values) and measures[clarification needed]
used for the purpose of ethical or ideological integrity. A well
defined value system is a moral code.
Fred Wenstøp and Arild
Myrmel have proposed a structure for corporate value systems that
consists of three value categories. These are considered complementary
and juxtaposed on the same level if illustrated graphically on for
instance an organization’s web page. The first value category is Core
Values, which prescribe the attitude and character of an organization,
and are often found in sections on Code of conduct on its web page. The
philosophical antecedents of these values are Virtue ethics, which is
often attributed to Aristotle. Protected Values are protected through
rules, standards and certifications. They are often concerned with
areas such as health, environment and safety. The third category,
Created Values, is the values that stakeholders, including the
shareholders expect in return for their contributions to the firm.
These values are subject to trade-off by decision-makers or bargaining
processes. This process is explained further in Stakeholder theory.
a member of a society, group or community, an individual can hold both
a personal value system and a communal value system at the same time.
In this case, the two value systems (one personal and one communal) are
externally consistent provided they bear no contradictions or
situational exceptions between them.
A value system in its own right is internally consistent when
* its values do not contradict each other and
* its exceptions are
- abstract enough to be used in all situations and
- consistently applied.
Conversely, a value system by itself is internally inconsistent if:
* its values contradict each other and
* its exceptions are
- highly situational and
- inconsistently applied.
of the conditions required for consistency in any (?) logical (i.e.
value-conserving) system of statements is their transitivity. (See:
Intransitivity. Occurrences.) Without it, it might eventually happen
that A is of greater value than B, yet B is of greater value than
A—which is a case of mutual contradiction in certain statements that
determine values of A and B in the system. Value system consistency can
be a value in and of itself.