Three Cardinal Virtues of Business

Adapted from Business as a Calling by Michael Novak.

What is it that makes an entrepreneur successful?  The author claims that there are three virtues that are essential for success in business: 

·        Creativity

·        Building Community

·        Practical Realism 

These virtues are to be demonstrated by all workers in an organization—not just by the founder or top executives.  Peter Drucker said it well: 

The ultimate resource in economic development is people.  It is people, not capital or raw materials, that develop an economy. 

(Although we will on the above three virtues in this Weekly Insight, we understand that you and I must practice a number of other virtues including diligence, industriousness,  courage, prudence in undertaking reasonable risks, reliability, and fidelity in interpersonal relationships.)   

The Virtue of Creativity

Capitalism is not a system focused only on things.  Capitalism is about the human spirit.  At the very heart of capitalism is the ability to notice, the habit of discerning, and the tendency to discover what other people don’t yet see.  Also required is the ability to act on these insights bringing things into reality that had not existed before; to foresee both the needs of others and figure out how to best satisfy those needs. 

And this creativity is fun!  Just ask a budding entrepreneur who, although struggling, is seeing his or her creativity give birth to a new enterprise.  Watching what you created grow is one of life’s greatest pleasures.   

So we conclude that the principal cause of wealth is human creativity.

In times past the chief form of wealth was land.  But now, invention and discovery and new ideas have become the dynamic source of wealth.  Today, intellectual capital leads the way in creating the wealth of individuals and of nations. 

Man, the discoverer, is made in the image of God, our Creator.  A wonderful part of our human vocation is being creative and discovering the earth’s productive potential that God has placed within our grasp.   

The Virtue of Building Community

We need to work with each other.  That’s a modern fact of commerce, sharing in a community of work that involves ever-widening circles (think globalism).  We require the cooperation of many people working toward a common goal.  Thus, businesspeople are constantly involved in building community (e.g. among employees, suppliers, customers, bankers, government officials).  And from a Christian point of view, there is great virtue in building the right kind of community—a community based on biblical values.   

Believing that, we must conclude that profitability is not the only indicator of the condition of the community that we are building.  What does it matter if our financial accounts are in order and our people are oppressed?  And so we must create new wealth the right way as we build community.  Indeed, the economic and the ethical point of a business corporation is to serve others.   

The Virtue of Practical Realism

“People in business bet their careers (and sometimes their life savings) on being in touch with reality.”  In our businesses we must keep adjusting our perceptions to the hard facts of reality, realizing that our first impressions may be incorrect.  Having a wise counsel of advisors will assist you in making these adjustments.  Being ever watchful must be our daily attitude.   

The Bottom Line

As Christian businesspeople, our lives must be marked by a mental habit of prayer as we seek God’s wisdom in defining our present reality.  Yes, we must do our part.  But we must also realize that most of our blessings come from sources beyond our own efforts.  We owe much to our nation’s system of commerce, to our colleagues, and to God.  For this we are grateful and stand with Thomas Jefferson whose phrase from his First Inaugural, “Acknowledging and adoring an overruling Providence,” reminds us of our utter dependence upon our Creator as we seek to create wealth in the process of serving others. 

Creativity, Building Community, Practical Realism—three virtues for success in business.  May our Heavenly Father grant us the wisdom to practice these virtues plus many more as we go about His business. 

Have a great week. 

Keith

Subscribe to these Weekly Insights at no cost at www.daystarconsulting.com

Weekly Insight answers to executive questions at http://www.daystarconsulting.com/faq.asp