WEEK 12
From what I read in pages 3 & 4 of “what’s a business for?”, Virtue and Integrity are two basic human principles that are vital to every economy. When individuals and corporate bodies have these principles, they invest primarily on the future benefits of business than today’s earnings and tomorrow’s woes. When individuals have integrity, they focus on their customers and employees, and not enriching themselves only. I realized that virtue and integrity guide an economy in that when people and business practiced these principles, it leads to increase in the earning of people because employees will be paid fair wages and will also work full day. People will always engage in genuine businesses for the betterment of their customers. This in turn increases the economic activities and growth in every economy.
According to Charles Handy, the “real Justification” for businesses is for the benefit of consumers, shareholders and employees. In today’s world, most businesses tend to place emphasis on maximizing profit. So they do all kinds of things to get the cash. Thus shifting their attention from the main reason of business to selfish interests. They, however, forget that businesses are for the target market and the people who work to make that possible.
The two solutions proposed by Charles Handy that I agree with are;
1. Cutting or postponing expen- ditures that are geared to the future rather than the present will increase profits immediately even if it imperils them over the long term.
2. ..culture underpinned by a doctrine that pro- claimed the market king, always gave priority to the shareholder, and believed that business was the key engine of progress and thus should take prece- dence in policy decisions.
These two proposed solutions define the difference in investing for current profit maximization and future deterioration. Every business should prioritize future growth and focusing our attention on developing our future instead of our today’s gains and future losses is surely a great way to go. That’s why I agree with him on this.
From what I read in pages 3 & 4 of “what’s a business for?”, Virtue and Integrity are two basic human principles that are vital to every economy. When individuals and corporate bodies have these principles, they invest primarily on the future benefits of business than today’s earnings and tomorrow’s woes. When individuals have integrity, they focus on their customers and employees, and not enriching themselves only. I realized that virtue and integrity guide an economy in that when people and business practiced these principles, it leads to increase in the earning of people because employees will be paid fair wages and will also work full day. People will always engage in genuine businesses for the betterment of their customers. This in turn increases the economic activities and growth in every economy.
According to Charles Handy, the “real Justification” for businesses is for the benefit of consumers, shareholders and employees. In today’s world, most businesses tend to place emphasis on maximizing profit. So they do all kinds of things to get the cash. Thus shifting their attention from the main reason of business to selfish interests. They, however, forget that businesses are for the target market and the people who work to make that possible.
The two solutions proposed by Charles Handy that I agree with are;
1. Cutting or postponing expen- ditures that are geared to the future rather than the present will increase profits immediately even if it imperils them over the long term.
2. ..culture underpinned by a doctrine that pro- claimed the market king, always gave priority to the shareholder, and believed that business was the key engine of progress and thus should take prece- dence in policy decisions.
These two proposed solutions define the difference in investing for current profit maximization and future deterioration. Every business should prioritize future growth and focusing our attention on developing our future instead of our today’s gains and future losses is surely a great way to go. That’s why I agree with him on this.
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