Transforming Business Ethics: Beyond "It's Only Business"
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Chapter 1: The Problem with "It's Only Business"
The phrase "it's only business" stands as one of the harshest mantras in the corporate world. Does engaging in business really exempt us from ethical considerations? It's high time we re-evaluate our business practices.
When I first encountered this phrase, I had recently established a nonprofit educational institution. A parent led us to believe we would secure a loan with favorable terms from his father, a bank founder. After months of effort and reassurances from him, I was convinced the loan was a sure thing. However, when he finally came to our office, he wore a strange smile that set off alarm bells.
To my disbelief, he informed us in a completely nonchalant manner that we had been denied the loan due to his father's personal decision. In that moment, I felt as if I had been struck. As a struggling nonprofit, we had relied on that funding, especially with 17 employees depending on us.
His dismissive remark—"it's only business"—hit me hard.
This experience has not been unique. That phrase often serves as a thought-terminating cliché, suggesting that it’s acceptable to harm others, even friends, under the guise of business. It’s deeply troubling.
At a networking event, someone once told me that my honesty would hinder my success in business. Isn't this attitude a key factor in our current predicament? The belief that business operates under a different moral framework, especially when it allows individuals to avoid witnessing the consequences of their actions, is misguided.
I vividly recall the 80s and 90s when "consultants" would enter companies, slashing payrolls and costs until nothing was left but overworked employees and inferior products. Today, private equity firms perpetuate the same cycle—acquiring successful businesses, burdening them with debt, and then abandoning them as they declare bankruptcy.
The relentless pursuit of profit, without regard for the lives affected or the environmental impact, has led us to an untenable situation. A new consciousness requires us to change our approach. We must recognize the interconnectedness of business, employees, and the environment. By seeing our role within the biosphere, we can foster a culture where we serve our clients with empathy and nourish our own creativity.
Being in business does not exempt us from ethical responsibilities. In fact, I argue that we should strive for impeccable ethics, as this will catalyze not only a transformation in business but also a shift for our entire planet. There’s a growing movement against the old mantra of "always be selling," and soon, the tide will turn against the cold-hearted mentality of "it's only business."
I believe we can cultivate a system where profit is not the sole motivation. Imagine a culture where business also focuses on service, delivering quality products, and living in harmony with nature. We have the ability to achieve this! The planet and all its inhabitants are pleading for us to make a change.