What does Business really Mean?

I learned about business and what is so important about it this week in class. I was asked why virtue and integrity is so vital to an economy? I think it is very important because rules and laws rely on truth and trust, otherwise things will be undependable and no one will trust the system. Trust is a delicate and can be broken easily. Some ways that trust is being broken is because of greed. Personal greed is influencing people to sweep important things under the rug or breaking rules to make more money. This is a huge problem and where the lying and deceit come in trust is broken.

The real justification for the existence of business is no longer to help and look out for others. Charles Handy, in What’s a business for? said, “It is about investments and company’s assets are increasingly found in its people, not in building and machinery.” Two solutions that were suggested by Charles Handy were great ideas. The first solution would to have better and tougher regulations. This would help by defining responsibilities clearly and penalties spelled out better and watchdogs appointed to look over these items. The second solution would be to have people who carry intellectual property should have some rights to say what happens in the company. The employees now are considered costs and they shouldn’t be. They are members of the company community and should be treated as. They should also have some rights including the right to note and share their opinions on different issues as they arise. Why is all the power going to outsiders that are only looking out for themselves. But the employees are pouring their hard work through sweat, tears, and hours put in should be given more rights. The thought of what a business is, really needs to be redefined and fixed.