Doing Business by the Good Book Ch 2

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Questions and Answers

What principle guided the decision to return the over-payment to the customer?

Prioritizing customer satisfaction

Maintaining ethical standards (correct)

Preventing potential legal issues

Maximizing profits for the company

How did Jesus respond to the temptation of turning a stone into bread?

He ignored the devil's suggestion

He cited that life is about more than physical needs (correct)

He turned the stone into bread

He asked for help from God

What does a person's reputation primarily reflect according to the content?

Their commitment to keeping their word (correct)

Their financial success

Their ability to make profits

Their social connections

What is indicated about the relationship between integrity and the next generation of managers?

Integrity is necessary for cultivating future leaders Signup and view all the answers

What lesson from Proverbs is highlighted in the content?

A good name is worth more than riches Signup and view all the answers

What was one of the temptations Jesus faced according to the content?

To satisfy his hunger immediately Signup and view all the answers

What underlies the author's belief regarding compromising values?

Values should never be compromised for convenience Signup and view all the answers

What does Proverbs 22:1 imply about the value of a good name compared to wealth?

A good name is more valuable than great riches. Signup and view all the answers

In biblical times, what was the primary means of conducting business transactions?

Spoken word agreements. Signup and view all the answers

What is considered an obligation of a businessperson in relation to their word?

To uphold and honor their spoken commitments. Signup and view all the answers

What attitude do some businesspeople adopt when faced with competition?

To engage in unscrupulous practices. Signup and view all the answers

What role does the author believe personal values should play in business?

They must always be prioritized. Signup and view all the answers

What signifies the author's commitment to their business?

A partnership with their spouse. Signup and view all the answers

What is a consequence the author faced during the early years of their company?

Pressure to compromise their integrity. Signup and view all the answers

What is described as a ministry by the author?

Their business representing their values and beliefs. Signup and view all the answers

Study Notes

Integrity in Business

Oral agreements hold legal weight, similar to written ones, though proving them can be harder without witnesses.
Being honest and reliable in business, sticking to one's word, is just as important today as in the past.
Businesspeople are ambassadors for God, representing him/her continually, on and off the job.

Temptation in Business

Some seek personal gain at the cost of ethical conduct and integrity. They rationalize the wrong actions by claiming it's "business" or "cutthroat."
Personal values and standards shouldn't be compromised for gain.
Leaders should exemplify integrity through actions, as personal behavior is observed by others.

Importance of Integrity

Integrity builds relationships with customers, employees, and suppliers, creating a successful business environment for long-term gain.
Maintaining integrity was important during hardship, even when avoiding a financial loss could benefit the company.
Resisting temptation to cut corners, even for financial gain, is key for a profitable and reputable business.

Moral Example from the Bible

Jesus's example illustrates facing temptation and refusing to compromise values.
Jesus refused to use his power in ways that could lead to wrong choices; he did not make bread from stones or bow down to the devil.
Avoiding placing God to the test when choices conflict with morality.

Building a Reputation

A good name, a trustworthy reputation, is more valuable than wealth.
Trustworthiness stems from keeping one's word.
Building a good reputation takes time and effort; it can be lost quickly by acting dishonestly.
This example is as important for companies as it is for individuals, especially within organizations.
Strong leadership with integrity influences the next generations of leaders within a business.

Long-Term Business Goals

A company's prosperity benefits future employees, even after the owner/manager is gone.
The stability of the business rests on the solid moral foundations built into the company's culture, including acts of integrity.

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Description

This quiz explores the essential role of integrity in business practices. It dives into the impact of oral agreements, the challenges of maintaining ethical conduct, and the necessity of upholding personal values in a competitive environment. Test your understanding of how integrity influences relationships and success in the business world.