Ethics and Values: January 2009 Archives

My co-author Mike Naughton will be in Nashville today to join me in a public lecture on our new book Bringing Your Business to Life.  Learn how values and faith can offer a path out of the current ethical crisis in business.

Please join us for our Lecture, open to the public, today Tuesday January 27th  - Massey Board Room,  4th floor - Massey Business Center (note that the location has been moved) - 4:30pm reception and 5:00pm lecture.

If you have not registered, please feel free to drop by anyway.  Lots of room and plenty of good food.

When raising children one must put rules and controls in place to keep them heading in the right direction and keep them safe. 

At the same time, if they are ever to mature and become self-reliant, children must internalize right versus wrong, good versus bad into their own values that will over time help to shape their character. Values and character create a counter-balance to help channel free will into a constructive and positive path in life.

I have become convinced that, to a large degree, the same is true for markets.

We had a wonderful discussion last night in my MBA seminar about the inherent need for a counter-balance for free markets.  The class read the Templeton Essays on free markets and moral character that I linked to a couple of weeks ago.

As we reflected on the current state of public policy and our economy through the lens of these essays, we saw that over history free markets have always needed a counter-balance.

The counter balance that has proven most effective over time -- our common morality that is disseminated through society and culture -- has waned in its influence over commerce during the past decades.  The result has been markets run amuck scarred by ethical crisis after ethical crisis.

In its place the heavy hand of the governmental "parent" is stepping back in to restore order.

History also shows that government control and direction of economies never works very well over the long-term.

So here is our charge.

Entrepreneurs must not only focus on rebuilding our economy, but rebuilding our culture and moral fabric.  Both must be in place for free markets to flourish over the long-term.

If we work on both of these pillars, we will be able to have the foundation in place for a new entrepreneurial renaissance.  If we don't, the odds are than we will muddle under a socialistic burden on our economy for decades to come.

Do not focus your energy on fighting what is now being put in place.  Be patient.  If we rebuild our entrepreneurial economy and create truly good companies, society will once again look to us for leadership. 

We have to restore their trust and confidence in us -- ee have to earn it back.  Words will not make this happen -- only our actions.

My co-author Mike Naughton will be coming to Nashville later this month.  There are two public events we will be hosting at Belmont University on our book, Bringing Your Business to Life.

Please join us for the Lecture, open to the public, on Tuesday January 27th  - Gordon Inman Center,  4th floor - Frist Lecture Hall -  4:30pm reception and 5:00pm address.

Click here to register for the lecture

Don't miss the Workshop on Wednesday January 28th from 7:30am-11:00am.  There is a $50 registration fee.  Click here to download the workshop registration form.

Face it -- we entrepreneurs have a high need for control.  And when we feel like we are not in control of our worlds we more often than not fall into the wierd behavior of working more and more hours.  It is not that we get more things done -- it just feels like we do.

Many of the legendary 80-90 hour weeks are just our attempt to keep really busy, hoping that if we keep busy enough things will get better.

As you can imagine, there is a lot of nervous busy work going on with entrepreneurs these days.

As always, there is a new buzz word for this pattern of behavior. 

In a new small business survey by Staples they report that 62% of small business owners admit that they are transforming into "mouse potatoes" (i.e., constantly on the computer).  One in five report replacing breakfast with "deskfast" in an attempt to "maximize time."

Although I worry about the mental health of these entrepreneurs, it does seem to help them feel better about things.  A whopping 84% anticipate being able to weather the current economic storm and plan to be in the same business a year from now.

My only caution is this -- Don't become such a mouse potato that you lose your family and your friends.  Temperance, my good friends, temperance!