Each person has a set of values and a code of ethics to which they adhere, but is there a difference between the two.  Often times the two are used interchangeably with each other, but there are significant differences that are important to understand.  While values and ethics are different; they are closely related and come together to form the basis of decision making for most people.

Values are the fundamental beliefs that an individual or group holds to be true.  Every person has a value set which impacts the lenses through which they view the world. People often turn to their value system when making decisions.  These values are the guiding principles in a person’s life.  Societies also have a value system which guides the direction of its people and the laws which they intact.  For example, in the United States freedom, liberty, and the pursuit of happiness are guiding values that reflect what we as a people hold to be important.  The constitution and others laws serve to protect those values.

Values are also what people hold to be important to them.  A person value system is often complex. In a society there are many value systems that sometimes can conflict with one another.  In order to have a more orderly society or organizational ethics is used to create a common value system that can apply to an organization as a whole.

Ethics are the more formalized rules or guidelines of an organization or society.  The rules a company adopts, or the laws of a nation are examples of ethical codes of conduct. Ethical decisions are based on a set of core values that are codified.  Ethical behavior is then determined rather or not an individual or group lived up to the code. Ethics is generally referred to as the moral code of a person or group.  This code is based on the values that are considered to be important. Therefore, it can be argued that ethics is the development of a system that serves to protect a person or groups core values.

Ethics has been applied to a wide range of issues, from family, crime, war, personal, and business conduct.  Ethics serve to create a broad set of standards that can apply across large sets of values to create a common description of moral behavior. Having ethical standards is important for enacting a set of rules and guidelines that can encompass core beliefs of a diverse group. Even though everyone has a different set of values, ethics serves to bring common values that most would hold to be true. Creating ethical guidelines is extremely important for having a functioning organization or society.

Values and ethics together is what create the moral code of a person or group. Morality is simply the values and ethics of a society. Morality serves to determine what is right and wrong behavior and these morals are created from the ethical and value norms of a group.