“Values are the lenses through which we view the decisions we make, and principles are the bedrock upon which we build our actions and our lives.” Stephen R. Covey,
In this article, lets get to the bottom of the difference between values and principles.
First it is important to define what values and principles are.
I think this is really important for people and companies to think through because it defines our culture and helps to design the institution and build our life.
I am talking about values and principles in terms of as a company or an individual in a relationship or setting your life goals.
What are values?
Values are basic and fundamental beliefs that guide or motivate attitudes or actions. They help us to determine what is important to us.
It’s a good idea to consider what your core values are.
You can learn more about values here.
What are principles?
a fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning.
So you can see from their definitions that the difference comes down to the difference between behaviour and actions.
You can read Ray Dalio’s book about Principles here.
Whats the difference between behaviour and actions?
So, whats the difference between principles and values?
My interpretation is that: values are the set of priorities that we have that helps us make decisions. Principles are the set of rules we have that governs our behaviour.
I think of our values as being the answer to the question: what is most important to us?
I think of principles as being the answer to the question: what habits do you want to live by?
I think of principles as being the same as virtues and as a rule that you live by, or aspire to live by. They are also the same as habits. A virtue is a trait or quality that is deemed to be morally good and thus is valued as a foundation of principle and good moral being. In other words, it is a behavior that shows high moral standards: doing what is right and avoiding what is wrong. The opposite of virtue is vice.
What is the relationship between principles and values?
I believe values should be set first and are higher up. We then use our values to design our principles, which governs our behaviour. When in doubt, we consult with our values to help us get an answer about what is important to us.
Examples of Values and Principles are
You can learn more here.
My Values
For example
My five values are:
– Speed
– Excellence
– Caring about others
– Learning
– Focus & Simplify
So I used these to design my principles, which I introduce more here.
My 13 principles:
- Industry – Lose no time; be always employ’d in something useful; cut off all unnecessary actions.
- Resolution – Resolve to perform what you ought; perform without fail what you resolve.
- Order – Let all your things have their places; let each part of your business have its time.
- Justice – Wrong none by doing injuries, or omitting the benefits that are your duty.
- Being Present – Focused the powers of concentration on the now.
- Frugality – Make no expense but to do good to others or yourself; i.e., waste nothing.
- Courage – Doing what is uncomfortable / scares me
- Silence – Speak not but what may benefit others or yourself; avoid trifling conversation.
- Sincerity – Use no hurtful deceit; think innocently and justly, and, if you speak, speak accordingly.
- Tranquility (Harmony / purity) – Be not disturbed at trifles, or at accidents common or unavoidable.
- Cleanliness – Tolerate no uncleanliness in body, cloaths, or habitation.
- Humility – Imitate Jesus and Socrates, and Benjamin Franklin.
- Chastity – Rarely use venery but for health or offspring, never to dullness, weakness, or the injury of your own or another’s peace or reputation.
These are different to my family and company values. For example, my company values are here:
You can read more about my company values here.
What are your values and principles? Let me know in the comments!
