Management by values as a core tool of HRD during the economic transition: an example of Russian enterprises

The article analyses the role and the significance of management by values in the conditions of transition from one socio-economic system to another. The theoretical aspects of the problem and the results of empirical research conducted in a number of Russian companies are examined. An assumption is made about organizational values influencing the formation of personal priorities and guiding principles of the employees, which leads to the increase of the degree of social responsibility of a given business.