What is value premises?

Value premises are the fundamental beliefs or principles that serve as the foundation for an individual's or organization's values or ethical standards. These premises reflect the basic assumptions that people hold about what is right or wrong, good or bad, just or unjust, fair or unfair, moral or immoral, etc. Value premises may be derived from various sources such as personal experiences, culture, religion, philosophy, education, upbringing, and social norms. They guide people's attitudes, behaviors, and decision-making and influence their judgment of what is important, meaningful, and desirable. Value premises are critical in shaping the ethical framework of individuals and organizations and are often used as a basis for establishing codes of conduct, corporate social responsibility policies, and other ethical guidelines.