What's a Business For?


This week I read an article called What’s a Business For? by Charles Handy. I was asked to answer a few questions about the article.

Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy?

I think virtue and integrity are so important because so people will want to participate in it. The article states that if those in business are not trustworthy then the game becomes unreliable and no one will want to play. The article also said that another downfall is that the way society creates wealth will be eroded and we will need to rely on governments to do it, and they are not good at it. So, telling the truth and being honest is vital to an economy.

According to Charles Handy, what is the “real justification” for the existence of businesses?

Handy said that the real justification for the existence of businesses is the “something” that they can do more of or better beyond just making a profit. He said that the profit would be the means so that the company can do something better or more useful than anyone else. The video I watched called Entrepreneurship & Consecration by Elder Gay talked a bit about this when he said that business is about service and about rescue. After a company has provided for its basic needs then it should work on the rescue of others. This is the “something more or better” that a business can feel justification for its existence.

What are two solutions proposed by Handy that you agree with? Why?

One of the solutions proposed by Handy that I liked was for companies to treat those people who work for them as a community instead of just employees. He said this would create an environment that would cause people to want to tell the truth about their work and the finance people would then have more accurate statements. It’s a win/win situation.

Another solution proposed by Handy is that of businesses taking an oath to “do no harm.” This means doing no harm to the environment, practicing sustainability, and also not doing harm to their employees by not overworking them. I like this solution because it will help with the environment and help with the employees to allow them to have a life outside of work.

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