From values to virtues

Something clicked when my thesis students and I were discussing how Filipino social enterprises can translate Filipino values into organizational dynamic capabilities. What began as our routine research discussions evolved into meaningful conversations about Filipino culture and organizational capabilities, especially as I also worked with my own department's strategy team. Together, these experiences make me ask a question for reflection: What's the real difference between values and virtues, and why should business leaders care?

Most companies naturally gravitate toward values – transparency, excellence, innovation. These values, proudly displayed in corridors and handbooks, help teams make decisions and build workplace culture. Yet in my experience mentoring business students and working with organizations, I've noticed how values tend to shift with circumstances. They reflect what matters to us right now, adapting to changing times. This adaptability serves its purpose, but it often leaves me wondering: What stays constant when everything else changes?

This curiosity led me and my thesis advisees to look more closely at virtues. Through their literature review, my thesis students discovered that successful enterprises and their leaders didn't just list values in their handbooks – they practiced specific virtues. Take for example how instead of just claiming to value fairness, leaders actively demonstrated kagandahang-loob (goodwill) through decisions that genuinely helped their communities. When abstract values translate into concrete actions, people notice and respond. These are more appropriately described as virtues.

The practical impact becomes clear in daily operations. Virtues shape how people actually behave, improving both individual work and team results. I've seen teams become stronger when they focus on practicing virtues rather than just talking about values. These organizations handle challenges better while staying true to their principles, unlike values that might change with new management or market trends.

What makes this particularly interesting is how Filipino culture offers practical wisdom about virtues that modern businesses can use. Ideas like loob (inner self) and kapwa (shared identity) help us understand how to build better working relationships. My students' research reveals how farming enterprises use these traditional virtues to create lasting positive change in their communities. Their success suggests that local wisdom can help build companies that compete globally while staying connected to their roots.

In today's world, where business trends spread instantly through social media and international networks, we need solid foundations more than ever. While values come and go, virtues keep us grounded. This shift isn't about throwing away our value statements – it's about putting them into practice in ways that last.

For business leaders, this presents both a challenge and an opportunity. How can we encourage virtuous behavior in our teams? How do we recognize and reward actions that show genuine concern for others? The shift takes time and effort, but the results – stronger organizations, more meaningful work, and lasting positive impact – make it worthwhile.

Working with my students and department colleagues has convinced me that developing virtues, not just declaring values, matters deeply for business success. In a world where change is constant, perhaps it's time to focus more on timeless principles that guide how we actually behave, not just what we say we believe.