Confucianism in Neoteric Business
“He who will not economize will have to agonize.”- Confucius
Confucianism in the world is seen as a universal set of principles according to which one must live and interact. Teachings of Confucius should not restricted to certain fields or areas of life instead should be used as a tool to achieve the ideal state of oneself. Business sector is one such important area where people interact and communicate on different levels and everyone in the world engages in business whether they like it or not. Therefore it is necessary for a person to conduct himself/herself while performing any type of business. This code of conduct better known as Business Ethics can be strengthened by following and applying…show more content…
Tak and King (2004) conducted a study on a rather micro or personal level about a merchants’ perception of business practices which concluded with a fact that Confucian values has a lot to contribute to Business Ethics in the form a discipline which explores the proper conduct of an individuals in a corporate organization. It is necessary to emphasize that Confucian Ethics should be utilized towards the motive of attaining a richer and deeper understanding through the analysis of contemporary Business.
In each of the following parts, the contribution of Confucian ethics in terms of valuable philosophical and intellectual perspectives offered to the study of contemporary Business Ethics will be discussed. As put together by the neo-Confucianist, Chu Hsi (Chan, 1963), the main sources of information for the following discussion have been extracted from the four books of Classics (the Analects, Mencius, The Great Learning and the Doctrine of the Mean). After cautious observation and scrutiny, the socio-historical impacts of Confucian Ethics on businesses in modern day China can be better explained using the following key factors - relevant perspectives and approaches towards business activities within the modern capitalist framework, the principle of reciprocity and the concept of human virtues.
Firstly, in the Capitalist framework of business, Confucianism and profit-making are seen as two opposite poles of a magnet, in fact Confucius expresses a negative attitude