As a Company Secretary, prepare a note differentiating between concept of Ethics and Values.

Ethics are consistently applied over the period, and remains same for all the human beings. Values have an individualistic approach, i.e. it varies from person to person but remains stable, relatively unchanging, but they can be changed over time due to a significant emotional event. The fundamental differences between ethics and value are described in the given below points: Ethics refers to the guidelines for conduct, that address question about morality. Value is defined as the principles and ideals, which helps them in making the judgement of what is more important. Ethics is a system of moral principles in contrast to values, which is the stimuli of our thinking. Values strongly influence the emotional state of mind. Therefore it acts as a motivator. On the other hand, ethics compels us to follow a particular course of action. Ethics are consistent, whereas values are different for different persons, i.e. what is important for one person, may not be important for another person. Values tell us what we want to do or achieve in our life, whereas ethics helps us in deciding what is morally correct or incorrect, in the given situation. Ethics determines to what extent our options are right or wrong. Values define our priorities for life.