W12

Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy? 

Virtue and integrity are vital to an economy because they help create trust between the American population and large companies and CEOs. Without virtue and trust, then capitalism will erode. Charles Handy mentions that the American people will then have to rely on the government for the creation of wealth, which hasn't had the best track record in the past. There have been recent scandals that has caused trust issues with businesses. Charles mentions that once there is a crack in trust, it is hard to mend it or gain it back. The American population voted, and a high number of people believe corporations do have the best interests of its employees. There are also reports that CEOs earn more than 400 times than what their lowest-paid workers earn adding more distrust between the people and businesses. 

According to Charles Handy, what is the “real justification” for the existence of businesses?

Charles Handy mentions that the purpose of businesses is to make a profit in order to do something more or better. That something is the "real justification" for the existence of businesses. Businesses exist to do something better or be more useful than anyone else. 

What are two solutions proposed by Handy that you agree with? Why?

The two solutions I agree with are: businesses need to take a lead in environmental and social sustainability and associating with a cause. I agree with these two solutions because if businesses show that they are actively involved in environmental issues and social change to be inclusive with different cultures and backgrounds, then they will be able to gain the trust of the population. If the CEOs do not seem so disconnected from the community or social issues that a lot of its workers and consumers are facing, then people will view as that company as genuine and sincere. Now, a lot of people go out of their way to purchase products they deem eco-friendly and recyclable. Also, a lot of shareholders feel proud to be associated with a business that funds charitable causes and during times of festivity give back to the community or help third-world countries. 

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