W06 Reflection: Entrepreneurial Journal

Virtue and integrity are so vital in an economy because it is important to take care of everyone involved. We are shifting toward a time when corporations are no longer looking after their shareholders or employees but are trying to seek personal financial gain. When we base business on personal financial gain, we lose the whole purpose of a business which is to fill a need in the world. Charles Handy explains that a business is not there to make a profit but to do something better with it. If we listen to his advice on this important topic, we can have a successful economy. I think the two solutions I agree with that Handy has is to pay dividends to those who are not only contributing money but also skill and we should measure success in terms of outcomes for others as well as for ourselves. I know how important funding is for a successful business, but I also know it is more important to have talented people running the business as well. I like his idea of having equal roles in a successful business. One is not more important than the other. With that equality, they should be paid equal dividends according to their impact. I know that also if we measure our success in terms of the outcomes of others just as much as ourselves, we will lose the plaguing greed in the economy. 

My attitude towards money changes with the amount I have. I think when I am successful and profitable it is easy to have a good positive attitude towards money and be willing to help others in need. It seems like when I am struggling financially, I am less positive and less likely to help others in need. I like the analogy of the “The Good Samaritan”. Many people will pass up the opportunity to help others because they are thinking about their own needs. I know that if we are like the good Samaritan we will be blessed for our efforts and will have a greater impact in the world. We should view money as a tool to bless others and take care of our basic needs. 

I think my view on money can greatly affect the way I live. If I view money as a way to gain power and fulfill my greed then I will never be happy in my life. Being selfish with money will result in temporal worldly pleasures but will not give me lasting joy. If I look at money as a way to serve others, I will be able to find meaning and purpose in my life. Serving others with money and finding ways to lift people will result in greater satisfaction and a newfound purpose in life. Whether we have a lot or little it is important to give back and help others. It is a weird concept but the more we give the “richer’ we become. 

Here are the rules if you want to prosper. 

Rule 1. Seek the Lord and have hope in him

Rule 2. Keep the commandments, that includes the temporal ones, tithing and fast offerings.

Rule 3. Think about money and plan how you can become self-reliant.

Rule 4. Take advantage of chances for learning so you will not be ignorant of these matters.

Education, as President Hinckley has taught us, is the Key to Opportunity.

Rule 5. Learn the laws upon which the blessings of wealth are predicated.

Rule 6. Do not send away the naked, the hungry, the thirsty or the sick or those who are held

captive.

I know by following these rules I can find true wealth in the world and life.