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The Confucian Business Ethics Equal importance to Profit Process and Principles

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Li gives importance to etiquette and defined process in any business. Any simpleton will not buy a diamond from a beggar. Each business has its own set of etiquette to be followed without which it cannot prosper. A merchant dealing with diamonds should look and act refined manner matching his customer’s status to sell his products to them. Each of this quality is important to do business ethically and properly. Practical Difficulties in Implementing Ethics Several business gurus and universities teach the young executives only about gaining more profits and winning over others. They do not teach them about the ways to do it ethically. As a result the business industry has grown into a massive barbaric ground where each one tries to swallow the other. Taking ethical decisions in everyday life is neither easy nor practical. Even if one person inclines to act in an ethical way, the company principles and the other fellow workers cease to co-operate with them. It is near impossible for any business executive or a business as a whole to stay very ethical in their business process. How Confucianism Connects Business with Principles These arguments might sound quite convincing for any normal man. But, there are still a thousand ways any person can stay ethical, if they choose to follow the Confucian principles in day to day life. O.C. Ferrell lists a few practices which result out of declining ethical standards. They are 1. Misuse of company resources 2. Abusing the fellow employees 3. Stealing from the company by altering accounts 4. Producing defective products 5. Bribing the government officials to market them Half of these non-ethical practices are directly related to individuals and others as a… The researcher f this essay focuses on the analysis of the Confucian philosophy on business management, that is giving equal importance to profit, process and principles and is refered as the right way to manage modern day trade and commerce. 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. The Confucian theory of business concentrates on four main principles, such as Ren – the quality of compassion towards fellow human beings, Xin – honesty and trustworthiness, Yi – giving importance to collective goodness more than personal profits and Li – following a etiquette and uniform process. Today, the western world views the business Confucianism only through the way the Chinese immigrants work. They interpret their sacrifices and hard work as hard and violent most of the time. The researcher mentiones that though most of the businesses in China struggle with the western influence, there are some like the example cited in this essay which have its strong ethical roots. It is such businesses that are transforming China into the next economical superpower, capable of lending millions of dollars to the US government. In conclusion, the researcher suggests that the Confucianism business ethics should be followed not only for the sake of ethics and profits, but to gain sheer peace of mind and happiness.