Confucian ethics can help todays businesses succeed

Authors Avatar

Lau

Confucian ethics can help today’s businesses succeed

Even in today’s global business setting, Confucian ethics can help improve a company’s performance and make it more competitive. These ethics include honesty, loyalty, courteousness, diligence, humanitarianism, bravery, and the absence of bias and discrimination. If I were the head of a major US company, I would include these Confucian ethics into the company’s business strategies and also make it a part of the company culture.

One of the Confucian ethics that can be applied to business is honesty. A company that values honesty would have a better chance to succeed because employees are less likely to cheat. “In recent years, companies such as Enron and Arthur Andersen have gotten into trouble because of a lack of honesty amount their employees” (Arthur Andersen Convicted of Obstruction of Justice). One of the ways to achieve honesty within the company is to reward employees for their acts of honesty. For example, employees who prepare financial statements correctly can be rewarded with a cash bonus. Also, employees who handle cash transactions accurately on a regular basis can receive an award.

Another Confucian ethic that can help a company succeed is loyalty. Loyalty in business means employees are satisfied with their work and with their company and are less likely to leave. This helps the company because it is more costly to hire and train a new employee. To help create company loyalty, I would use promotions and awards to help keep my employees satisfied.

Courteousness (Li) is another Confucian ethic that is important in today’s business world. Courteousness in business means treating customers with good manners and good service. With the products and services being of similar or equal quality, studies have shown that customers are more likely to shop with businesses that provide good customers service. Therefore, companies which practice courteousness and good customer service benefit by having the customers come back for repeat business. Salespersons should greet customers at the door with a smile and answer their questions timely. Customer service representatives should show pleasant attitude when talking to customers on the phone. To help create good customer service attitude among the employees, manager can observe their interaction with customers and then reward the employees who show good manners. Another way to build a courteous work force is to provide constant training and reminders on good manners. This can include putting posters in back offices reminding employees to be courteous.

Join now!

Diligence or hard work is still another Confucian ethic that can help today’s business. Working hard in business means doing the job completely and giving one hundred percent of one’s efforts. Working hard also means coming to work on time and not leaving early. A company with hardworking employees will have higher productivity and be more efficient. Rewards can be given to employees who show hard work by completing all of their assignments timely and accurately. On the other hand, employees who are lazy can be punished by reducing their performance awards and demoting their position. Another way to have ...

This is a preview of the whole essay