Management by values MBV a new philosophy for a new economic order

Purpose This paper is aimed at presenting a conceptual model of managing by values MBV as an important philosophical and practical framework for leaders and managers of organizations use in todays work environment. We briefly discuss the evolution of management from that of management by instruction MBI to management by objectives MBO and finally management by values MBV. We outline the trends and examples of two influential organizations focusing on values and finally provide a MBV as critical and needed method that has been used in Spain and extensively in Cuba. Designmethodologyapproach Although this is a conceptual article, we have included some practical examples where MBV has been used and also some research that has been conducted using this model on MBA students across business schools across the globe. Findings We present the three major dimensions of MBV economicalpragmatic, ethical, and emotionaldevelopmental. These dimensions were derived from research and practice using MBV in organizations and business schools. Originalityvalue In this article, we present a new management philosophy and practice that is pertinent to organizational leaders and managers in the twentyfirst century. We believe that MBA is not only an important method but also one that is very needed for organizations today. We believe this system of values is core to organizational success and development as it is critical to both practitioners and researchers.