This document discusses the definition and importance of values. It defines values as basic convictions about what is preferable or desirable. Values represent beliefs, missions, or philosophies that are meaningful to an individual or company. Companies develop values statements that outline their goals and philosophies, such as providing growth opportunities and returning value to communities. Values have content, specifying what is important, and intensity, specifying how important it is. Values are important because they influence perceptions, attitudes, and behaviors. Some key values mentioned are belief, forgiveness, honesty, patience, tolerance, dedication, respect, and compassion.