Role of values is briefly explained as follows:
1. Personality Development
Values develop the overall personality of an individual. Values are generally learnt through parents, religious leaders, teachers and other senior members of the society. “Sometimes great life changing values come to us in brief moments of contact with high potential personalities” wrote Walter Mac Peek.
2. Values generate Love, Peace and Happiness
We can say this because the value of respect and concern for others, co-operation, etc., develop a spirit of togetherness. Conflicts can be solved through mutual understanding and as such there can be love, peace and happiness.
3. Values Foster Economic Progress
For the progress of the society values are important but at the same time following these values in day to day life and in social life give more benefit for the growth of the country in business, education, politics fair dealing is much more important than anything else. The fair dealings would enable a country to progress, whereas, corrupt practices will keep a nation backward or underdeveloped, as is the case of most of the developing nations. Also the value of excellence, urges people to exploit their potential in order to come out with new and innovative ways.
4. Values Foster Social Development
The social development in terms of education, health, and family welfare can get a boost due to the practice of basic human values.eg. Due to the generosity, people may donate money towards setting up schools, colleges, cultural organizations, health centers, etc., as a result of such generous donations; the social development can take place in the society.
5. Values Facilitate Regional Co-operation
Human values such as respect, co-operation and tolerance can help to facilitate regional co-operation. India’s foreign policy is based on these values. The regional co-operation among the states of a nation or among different nations can help to improve economic and social development of the entire region.
6. Values Improve Standard of Living
Following these basic human value individual can bring upliftment in within himself /herself as well as among society. The value of excellence enable people to develop new products, processes, etc. such innovation enable people to enjoy new and better varieties of goods and services, which add to the standard of living of the people.
7. Values Develops Positive Attitude
Values develop positive attitudes towards our thought process, towards society towards life. This positive attitude gives us courage to defeat any worst situation in life. It also gives us attitude to excel far in work etc.