Meaning: -Social Values are values (standards) concerned with social aspects of human life. For example, truth, honesty, justice, kindness, generosity, tolerance, patriotism, perfection, excellence, etc. the business organisations are expected to participate in the development of social values through educative advertising, cultural programmes, national integration programmes , assistance to educational institutions, etc.
- Economic Progress: -Social Values foster economic progress of a society. For instance, if truth and honesty are practised by every body, it will promote fair dealings in all walks of life such as business, education, political, social services, etc.
- Social Development: -Social Values foster social development also, for instance, several industrialists and charitable institutions have shown generosity and started schools, colleges, hospitals, cultural centres for the benefit of common people.
- Social relations: -Social values like co-operation, tolerance, respect for seniors, etc. tend to improve social ties or relations. When a person extends his hand of co-operation to others, even the enemies will have to check their inimical relations.
- Regional Co-operation: -Social Values like co-operation, patriotism, and tolerance can help to mitigate the differences between the regions, states and countries. These three values, if practised it will promote social and economic development of the nations.
- Love, peace and happiness: -Values like respect for others, co-operations, tolerance develop a bond of togetherness. As a result, conflicts and clashes get solved through mutual understanding.
- Standard of living: - Values of perfection and excellence enables people to develop new methods, process and techniques. As a result, new and better products and services become available in the market. This ultimately led to raising the standard of living.