Management Of Family Resources

Lesson 16 : Factors Influencing Standards And Interrelatedness Of Values, Goals And Standards

Introduction

Choice of standards by the individuals and families is dependant on a number of factors. Values the individuals and families hold and the goals they set are very important among all factors. Values, goals and standards of an individual or a family are closely interrelated and they form the basis for all managerial decisions, values define why some activity is performed or some decision is made, goals determine the results worked for and the standards measure the results in acceptable forms.