BUS 110 Week 12

 I believe that virtue and integrity are important to the economy because trust is needed to grow business. Business drives economy. Without trust in a business it won't work and thus won't contribute to the economy the way it needs to. Whether the general population stops frequenting a certain business (i.e. restaurant, or market, etc.) or refuses to invest in a its future through the stock market, this will impact the economy that is most closely affected by that business. I am reminded of shows like "American Greed" or movies like "The Other Guys" and "Fun with Dick and Jane". The former is documentary style while the latter two are more comedic and satirical, but they all paint a vivid picture of corporate greed that destroys innocent lives and subsequently causes harm to the economy. I myself am hesitant to invest in any business without knowing what kind of values they live up to, not just what they say, but what they actually do.

According to Charles Handy, from his article What's a Business For?, the real purpose or "justification" for business is to make a profit in order to make the world a better place by using that profit to do something better. I can think of an example I read about years ago, a popular and very large soda company had donated millions of bottles of water to villages that not only didn't have a steady source of accessible drinking water, but also didn't have an appropriate or affordable way to light their homes. An entrepreneur had set up a way (using a unique invention) to recycle the donated water bottles into a sort of "light bulb". While I can't speak to the integrity of this particular soda company in total, this was an incredible way to use their significant resources to be charitable in a way that gave them little to no notoriety for it. I hope I can use any success I find in a way that can impact those less fortunate than me in much the same way.

A couple things that Handy talked about that I agree with are that companies need to focus not solely on profit, on making money, but on how the profit they make can in turn benefit the world. So many companies funnel finances into inventions that can make their business more profitable. Couldn't they focus on inventions that reduce pollution or create more sustainable efforts for their business? These things could reduce cost in the long run and create a trend that does less harm or even reverses harm done to the planet. Also, he spoke about rewarding those that put their time and talents into the growth of a business and not just reward those that put their money in. I agree with this and I've seen it in action. I once worked at a company that invested in their employees by opening a retirement account for the employee and was paid in until the employee retired. The employee did not need to pay into this account for it to exist, it could be solely funded by the company and the amount the company paid in increased over time so it was well worth it to stay for years, even decades, and retire with a nice savings that was "given" to you by the people you gave so much of your time to.

In studying Entrepreneurship and Consecration by Elder Gay I found myself asking what could I do different, or how can I think of a different approach to my ideas for creating a business. I wanted to think of how creating a business could be used to benefit others. Then it hit me. I discovered that I want to make a way for those less fortunate to enjoy some of the same things my own children enjoy. I have seen the low income side of my own city: the foster family, family crisis, child and spouse protection side. I know that through no fault of their own, there are kids that never get to "have fun". I have worked with CASA and I know they do their best, but I want to do more. I want to create a business that can work with the city to give kids experiences they would otherwise never get.