Hey everyone, it’s Michael Abernathy today, we’re going to tackle a big question that’s been on my mind: “Are principles and values the same thing?” This is a topic that cuts right to the heart of what makes us tick as entrepreneurs, business leaders, and humans.

Understanding the Basics

Let’s start by breaking down these terms. When we talk about principles vs. values, we’re diving into the core concepts that guide our decisions, actions, and behaviors. Principles are like the rules we set for ourselves – really they’re the guidelines we follow in our lives and our businesses. Values, on the other hand, are the beliefs that drive those rules. They’re the ‘why’ behind the ‘what’.

The Role of Values and Principles in Business

Now, let’s bring this back to business. Are principles and values the same thing in business? Not really. In business, values are the foundation of company culture. They’re what we stand for, what we believe in. Principles, however, are the rules we set to uphold those values. They’re how we conduct ourselves in business, how we treat our employees, customers, and competitors.

This difference between values and behaviors is really important to see. You might value honesty, for instance, and your principle could be always telling the truth to your clients, no matter what. See the connection? You cannot have principles without values, and in order to maintain your values, you must have principles.

The Influence of Covey on Principles vs Values

Just a quick side note. When we dive deeper into the principles vs values debate, we cannot overlook the influence of Stephen Covey, the author of “The 7 Habits of Highly Effective People”. According to Covey, principles are universal and unchanging, while values can vary from person to person.

Examples of Values and Principles

To really understand the difference between values and principles examples can be very helpful. Let’s take a value like integrity. A corresponding principle might be to always keep your promises. Or consider the value of respect. A related principle could be to listen actively when others speak. Your values are your compass, and your principles are the path you follow.

Similarities Between Principles and Values

While they are different, there are similarities between principles and values, especially in business. Both are fundamental to our identity, both guide our actions, and both are essential for long-term success. The line between the too is easy to blur.

The Complex Relationship: Values vs Principles vs Ethics

The relationship between values, principles, and ethics is complex. Ethics are the moral standards we adhere to, often influenced by societal norms and expectations. They intersect with our personal values and principles, creating a unique blend that defines who we are and how we operate.

Understanding the differences between the three is really a key to understanding how to build and create for people, both internally and externally.

To close

While principles and values are not the same thing, they are deeply interconnected. They shape our lives and our businesses, influencing every decision we make. So, take some time to reflect on your own values and principles. They might just be the key to unlocking your next level of success. Remember, it’s all about the journey and self-improvement!