A 'value' is a way of signaling 'what is important' to a person, group, team or community.
'Values' are a set of emotional rules followed to make decisions. Values are useful to determine integrity and honesty. It is easier to be aligned and predictable when people share the same values. Values exert moral pressure and are sometimes more effective than rules.
A core group needs to share the same values. Values are the tie-breakers when faced with tough choices. The more deeply rooted a value, the harder it is to change, in self or the other.
A 'preference' is a choice made by stack ranking alternatives. The ranking could be based on objective (value derived, cost saved) or subjective criteria (happiness, pleasure, satisfaction). Its easier to change preferences based on presenting data or proof that an alternative is better than the other.
When faced by tough choices know whether you are faced by a value-driven conflict or a preference-driven conflict. Sometimes it is not easy to tell the difference. Each has a different root cause and hence requires different solutions.
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