WHAT A CHRISTIAN BRINGS TO THE BUSINESS WORLD

I blogged a few days ago about five business principles I had seen in my read through my first issue of Harvard Business Review. Today, I’d like to add five more: five that I think represent the Christian perspective I bring to the business world, five that are true to Christian faith and to for-profit business.

1. The more diverse your hiring pool, the more diverse your workforce; and the more diverse your workforce, the better your ideas; and the better your ideas, the better your business.

2. Sacrificing long-term gain for short-term gain MAY result in short-term gain but WILL result in long-term loss; sacrificing short-term gain for long-term gain MAY result in short-term loss but WILL result in long-term gain.

3. It is important for a company to have strong morals because (in ascending order of importance): a) bad morals result in financial losses to the company in the form of lawsuits and fines b) good morals result in financial gains to the company in the form of good publicity and enhanced brand image c) some things are more important than financial gains and losses.

4. If you create more loss (through environmental damage, health hazards, and community displacement) than gain (through monetary profit, employment growth, and quality goods) by doing your business, you shouldn’t do your business.

5. People who say businesses’ sole purpose is to reward its stakeholders are only half-right: businesses exist to enrich their stakeholders, but that shouldn’t have to be limited to investors, for businesses have much to give and gain from customers, employees, and communities, as well as broader stakeholders such as the environment, political regimes, and future generations.