4 December 2021

Virtue and integrity are vital to an economy because people will quit investing in business if they are dishonest in their reports and dealings.  Public opinion can bring a business down if they decide to invest elsewhere.  Charles Handy said, “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.” (What’s a Business For? pg. 3) When we run a business, it's essential to be honest in everything we do.  When our customers trust us, we keep their business.  When our employees trust us, we gain their loyalty.

Charles Handy says a business should "make a profit so that the business can do something more or better." (pg. 5) So, what a company does more or better with its profit is the "real justification" for business.

I agree with Handy’s suggestion to share profits with the employees of a business.  I feel that rewarding those who make the industry possible is not only proper but intelligent.  It is human nature to give our best effort when we know we will be well compensated.  When Jeff Sandefer started his first business while still in high school, he paid his employees by the job and not by the hour. As a result, his crew did three times the work in one day as opposed to workers paid by the hour.  This model is an excellent example of giving our employees incentive to work better and faster.  Both the business and the employees benefit from the extra motivation and work.

Mr. Handy also suggests that businesses "find better ways to protect people from the demands of the jobs it gives them."  In other words, treat employees well. For example, my sister works at an elementary school, and since the pandemic hit her school, as well as others, can't fill the service and aide jobs they had available before the pandemic.  When those service positions were eliminated during the shutdowns, those former employees found new jobs that paid better and didn't have the stresses that came with their previous jobs.  Treating our employees well and helping them find the balance they need to have a fulfilling life at work and outside of work will help us retain exceptional employees and keep our businesses successful.