Week 12

It is the end of week 12 and we are coming up on the end of the semester. This class has taught me a lot of good principles I can use in business and life. This week we read a piece called What's a Business For? by Charles Handy. I found it to be pretty dry and difficult to get through. I had to read it a couple of times to get the idea of it and to focus on it. In the beginning he talks about the importance of integrity and virtue in business and its effect on the economy. These principles drive our economy. Handy tells us, "Markets rely on rules and laws, but those rules and laws in turn depend on truth and trust. Conceal truth or erode trust, and the game becomes so unreliable that no one will want to play."(pg 3) He goes on to talk about leaders of corporations and their attitudes towards subordinates. The leaders are paid more than 400 times more than their lowest paid worker. There is also the feeling that when business "takes care of itself before it cares for others only fuels the latent distrust." (pg 4) I don't necessarily agree with his perspective on this. I feel like it's important for business to not be an emotional thing, drawn to people's feelings, so as to avoid favortism and offense. While business should be run ethically, I feel like its main priority needs to be focused on itself and increasing profits to stay alive. According to Handy, this is not the only reason for businesses. Their "real justification" for existence, he says, is "to make a profit so that the business can do something more or better." (pg 5) I can agree with this. I think businesses have a responsibility to make the world better. With power (and money) come responsibility. Seeking a solution to improve businesses, Handy tells us, "More honesty and reality in the reporting of results would help,for a start." (pg 6) Another solution he offers in order for businesses to overcome the stigma of being "the enemy" to progress in the world is described as follows: "Business needs to take the lead in areas such as environmental and social sustainability instead of forever letting itself be pushed onto the defensive." I agree that both of these points will help improve the perception of businesses in our economy and will help improve the communities surrounding them. I think that when a business does things ethically and for the right reasons, following proper rules and laws, profits will follow.