What’s a Business For?
It was a super crazy week for me. Not only did I have all my assignments from this class, but I had a presentation to put together and I worked almost 50 or more hours.. I am beat.
There was a lot of great information that came out of the readings/videos this week. I read a great article called Microlending: Toward a Poverty-Free World. I was not aware of what microlending was until I read this article by Muhammad Yunus. He spoke about how poor the people who in Bangladesh and how they worked so hard for the little money that they received. He decided to give a loan of $27 to 42 people. He went to the bank to see if he could get the bank to give out loans to the poor and they refused. The bank said they were not creditworthy. So Yunus took it upon himself to test the theory. At this point all of the people he had given loans to had already paid them back i full. So he went from village to village helping the poor. But the bank did not want to take that into account so he gave up on them and started his own bank so he could continue to do the work he was doing. What am amazing concept that was to me. Just because someone is not "creditworthy" doesn't mean that we should reject them. I love what this man did for the poor people. What an amazing to see how just a small amount of money could make such an impact.
We also watched some videos that spoke about doing something you love that will change the world and make a different. One man went around the world trying to contain smallpox. One women decided to work for internet companies to help the world. Not sure what I will do to change the world, but when i figure it out I am going to put everything i have into it.
Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy?
Having both vital and integrity are very important tot he economy. Dishonest will destroy the economy if we go down that path. In the reading by Charles Handy, he states that over 60% of executives have pay tied to stock options. he said that the higher the stock value the more money the executives will be paid. If they end up being dishonest and falsely report their earnings just to pocket that all money it could really hurt the economy.
According to Charles Handy, what is the “real justification” for the existence of businesses?
To make a profit so we can change the world and make a difference. Make the world better.
What are two solutions proposed by Handy that you agree with? Why?
I agree with Handy when he says "Better and tougher regulation would help, as would a clearer separation of auditing from consulting." If the auditing and reporting was done by a third party then there would be no reason for executives to falsely report information.
There was a lot of great information that came out of the readings/videos this week. I read a great article called Microlending: Toward a Poverty-Free World. I was not aware of what microlending was until I read this article by Muhammad Yunus. He spoke about how poor the people who in Bangladesh and how they worked so hard for the little money that they received. He decided to give a loan of $27 to 42 people. He went to the bank to see if he could get the bank to give out loans to the poor and they refused. The bank said they were not creditworthy. So Yunus took it upon himself to test the theory. At this point all of the people he had given loans to had already paid them back i full. So he went from village to village helping the poor. But the bank did not want to take that into account so he gave up on them and started his own bank so he could continue to do the work he was doing. What am amazing concept that was to me. Just because someone is not "creditworthy" doesn't mean that we should reject them. I love what this man did for the poor people. What an amazing to see how just a small amount of money could make such an impact.
We also watched some videos that spoke about doing something you love that will change the world and make a different. One man went around the world trying to contain smallpox. One women decided to work for internet companies to help the world. Not sure what I will do to change the world, but when i figure it out I am going to put everything i have into it.
Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy?
Having both vital and integrity are very important tot he economy. Dishonest will destroy the economy if we go down that path. In the reading by Charles Handy, he states that over 60% of executives have pay tied to stock options. he said that the higher the stock value the more money the executives will be paid. If they end up being dishonest and falsely report their earnings just to pocket that all money it could really hurt the economy.
According to Charles Handy, what is the “real justification” for the existence of businesses?
To make a profit so we can change the world and make a difference. Make the world better.
What are two solutions proposed by Handy that you agree with? Why?
I agree with Handy when he says "Better and tougher regulation would help, as would a clearer separation of auditing from consulting." If the auditing and reporting was done by a third party then there would be no reason for executives to falsely report information.
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