Question

What is value and how is it determined and measured? In your opinion, does business generally determine and measure value appropriately? In a free market, what happens when value is not properly assessed by a business and its leaders? Give a historical example and your thoughts about how and why a disconnect occurred. Cite any sources used to support your answer.

Answer 1

Values are the basis of the framework on which the structure is formed. Defining the principles of the company is the first step when an organization is newly established. Definitions of principles include honesty, ethics, creativity, progress push, etc. Instead, it can only be measured according to the results or results. Good beliefs have a huge impact on people's behavior, for example. The results include success, abilities, teamwork, competition, efficiency, etc.

I think that businesses properly determine and measure value. The management has always an appreciation of the impact. We track the progress or performance of the company continuously to ensure that its standards are achieved. If the principles are not properly measured by a business or leader in a free market, then the company loses its vision and purpose. It ultimately leads to the organization's lack of direction. The company would be in turmoil as workers lose track of the organizational objectives. Finally, the company is a failure only.

In 2017 Papa John’s once chief executive and chairman made statements that were considered very racist and after such statements there was not only did stock fall by 11% but also Mr. Schnatter’s net worth decreased. The Papa John franchise knew that for the business to continue to be a success they would need to cut ties with Mr. Schnatter. This was a statement to the public that the franchise did not share the same views and actions of this nature usually gets business back to what is considered to be somewhat normal.

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