Good business

The president is trying to introduce some reforms into the banking and financial operations of our markets. He apparently wants these businesses to be good businesses, to be more “transparent” in some of their transactions. But some of the executives seem to be somewhat reluctant to support the full extent of his proposed reforms. It is reasonable to expect business executives to refrain from trying to sell merchandise that is dangerous without clearly noting its dangers. It is reasonable to pass laws against fraud in business transactions and to prosecute accused offenders. But there is a reasonable difference between what is fraud and what is just a “shady deal”.

A good business?

There is a difference between what is a deadly or dangerous side effect to some product and what is just a possible side effect for some users. There may be a difference between the advertised claims of a product and its actual benefits, but these differences are commonly overlooked unless the real effects of using the product are severely dangerous. Many used cars are sold “as is” with no guarantees or warranties. Perhaps high risk mortgages should be sold the same way. But then the banks and financial business that hold them might have a hard time in selling them, and they may lose a lot of money when the lenders default.

No one wants to loose money in any business transaction, but most business transactions involve some risks.  So the reform issue seeks to minimize some of these risks. How much “transparency” is really appropriate in any good business? Is honesty really the best policy? What if all of the risks involved in the use of some product are not clearly stated in the “fine print”, is that grounds for “fraud”? Let’s talk about this.


Comments

Good business — 13 Comments

  1. I read your latest blog posted, “Good business�. I think it is a good thing that the president of the US wants to see reforms and more transparency in the banking and financial markets. The world has been looking to the US for leadership in banking and financial matters, because of pervious ethical, responsible banking policies and transparent marketing.

    The recent financial meltdown in the US and global financial crisis because of ill responsible leadership has brought all of us to the point of believing that these reforms are necessary to bring this economy and the global economy back to where it should be. That will be a good thing.

    It is not a surprise for me as an African to hear you say in your blog that some of the executives seem to be somewhat reluctant to support the full extent of the Presidents proposed reforms. It sounds very familiar to me, because this happens in my country Liberia from time to time. We seem to be tired of the same ill responsibility repeating itself in high places.

    Fraud and corruption are outcomes of the human heart, seeking its own interest and what will satisfy itself than other. The thing that is good is the biblical teaching of seeking the interest of others before ourselves is what is good. That is what the President of my country is fighting because for us corruption is “systemic.� Reforms and transparency are the vocabulary we need to make sense out of these matters. We need alot of transparency!!!

  2. Enoch,
    Thanks a lot for your thoughtful comment to my post. The challenge is not just “to make sense out of these matters”, but to really bring about some basic changes in people that will end their addiction to greed and dishonesty and transform them into loving good “neighbors” in their communities and business enterprises.

  3. Hi Property solicitiors,
    Thanks for your compliment. I assume that you are an experienced business person. I would like to hear your opinions regarding this matter of “good business” and what “reforms” might protect buyers from fraud in their investments or dangerous risks in their purchases. I think that this is a worthy matter for some thoughtful discussion. Let’s talk about it.

  4. Without difficulty, the post is really the best on this deserving topic. I agree with your results and will thirstily look onward to your approaching updates. Saying many thanks will not just be enough, for the tremendous ability in your writing. I will instantly pick up your rss feed to stay privy of any updates. Very good work and a lot success in your future!

    • Hello my friend,
      Thanks for your comment regarding my post. I appreciate your compliments, but I don’t need them. I’m a professional writer. I know that you have left a lot of comments on my blog, but I’m not publishing many of them. I’m really trying to get viewers to comment on the subjects of my posts and to discuss these issues and concerns with me and others. If you or other viewers have questions about the design of my blog or website or problems viewing it, please use the Contact Form to contact me, and I’ll be glad to respond privately. I appreciate your interest in my blog.

    • Thanks my friend for your compliment. If you are really interested in this topic, I invite you to leave a specific comment in response to some of the questions that I raise about this issue in our society. I don’t think that many of the “experts” in this field of business really understand what “good” reforms would be. And I don’t think that the issue is being wisely addressed. Let’s really talk about this.

  5. An fascinating concept this. I’m 1 of those men and women whom tend to wait for things to mature prior to taking action but in this case I’m mindful that inaction leads to only failures so I will heed your comments and begin to do anything about it.

  6. Intriguing how you really feel in regards to Good business | A good blog. brbr The one thing i personally might talk about is whenever you’re going to get it done in this way then you will want willing to put in the energy. brbr And of course this will not be common since men and women are incredibly casual at present.

  7. Though this subject could be incredibly touchy for most folks, my opinion is that there has to be a middle or typical floor that we all can uncover. I do appreciate that your extra relevant and intelligent commentary appropriate here although. Thank you!

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