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The Confucian Business Ethics – Equal importance to Profit, Process and Principles Introduction Today’s world faces more dangers from the profit frenzy businessmen than any other terrorist organizations in the world. They deplete the natural resources of mother earth recklessly through mines, spoil our rivers with chemicals and keep their workers poor forever, all for the sake of money.
Else they will follow the footsteps of the current relentless businessmen, leaving no place to live and no resource to use for the next generation. The Confucian philosophy on business management giving equal importance to profit, process and principles is the right way to manage modern day trade and commerce. Chinese Business Ethic Rules The Chinese philosopher Confucius (551-479 B.C.) laid down clear rules on how to do business and live life generally. He believed business could be done in harmony with others without exploiting anyone, with collective interest in mind. He believed such a business would return back the goodness to the giver, many folds back (reciprocity) and this could be achieved only by following strict process and hierarchy (Confucian Business Ethics, 2009). The Confucian theory of business concentrates on four main principles 1. Ren – the quality of compassion towards fellow human beings 2. Xin – honesty and trustworthiness 3. Yi – giving importance to collective goodness more than personal profits 4. Li – following a etiquette and uniform process Ren implies the compassion every businessman should show towards, their workers, customers and fellow businessmen. ...
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