Ethical Self-Interest

The New ROE: Return On Ethics

July 22, 2009 by Chris Banescu

Forbes | by Sharon Allen | July 21, 2009

With everyone’s current focus on the economy, you might assume I’m talking about that traditional financial metric, return on equity. But the ROE I advocate is different. It’s return on ethics. This ROE is really more mindset than measure, an approach to encouraging the highest standard of business behavior. It’s based on the premise that ethical decision-making can lead to strong performance and competitive advantage, while unethical decision-making leads to very different outcomes. [Read more…]

The Three Most Important Rules in Business

June 10, 2009September 14, 2019 by Chris Banescu

Success - The Three Most Important Rules in Business by Chris Banescu –
From my years of experience working for different companies and teaching various graduate business courses, I developed three rules that management must practice in order to achieve long-term profitability and success. Follow these rules, and a business can remain healthy and prosper. Ignore them, and failure is virtually guaranteed in the long term.

Rule #1 – Always Meet and Exceed Customer Expectations.
Meeting and exceeding customer expectations is the most important but often overlooked rule of business. The only way a company stays in business is if the customer is satisfied with its product or service. This generates profit, builds long-term stability, and meets the challenge of competitors. Meeting expectations should be considered the baseline for company performance. Exceeding expectations should be the ultimate goal. [Read more…]

Orthodox Christianity And Capitalism: Are They Compatible?

April 20, 2009April 20, 2009 by Chris Banescu

AFR – The Illumined Heart | Kevin Allen | Apr 17, 2009

Writer, attorney, and university professor Chris Banescu discusses the economic, moral and spiritual issues surrounding the “capitalist” economic model and whether it serves the best interests of Christians living the life of the Beatitudes, in this interview with Kevin Allen host of The Illumined Heart podcast on Ancient Faith Radio.

Orthodox Christianity And Capitalism: Are They Compatible? – 4/17/09 [audio:http://audio.ancientfaith.com/illuminedheart/ih_2009-04-17_pc.mp3|titles=Orthodox Christianity And Capitalism Are They Compatible?|artists=Chris Banescu]

[Read more…]

Is Rand Relevant?

March 13, 2009March 13, 2009 by Chris Banescu

The Wall Street Journal | by Yaron Brook | Mar. 14, 2009

Ayn Rand died more than a quarter of a century ago, yet her name appears regularly in discussions of our current economic turmoil. …her magnum opus, “Atlas Shrugged,” is selling at a faster rate today than at any time during its 51-year history.

There’s a reason. In “Atlas,” Rand tells the story of the U.S. economy crumbling under the weight of crushing government interventions and regulations. Meanwhile, blaming greed and the free market, Washington responds with more controls that only deepen the crisis. Sound familiar? [Read more…]

Some Employees Are More Equal Than Others

July 7, 2007September 21, 2019 by Chris Banescu

Some Employees Are More Equal Than Others by Chris Banescu –
When I was younger I used to believe that getting a good education and working hard would offer me a stable life. I learned real quick that many companies don’t reward hard work anymore – at least not like I thought they should.

I believe in hard work. I think people should be rewarded on what they produce. But all too often the wrong people get promoted. Employees get preferential treatment and enjoy more benefits and opportunities as long as they don’t make any waves, toe the organizational line, and always support their bosses; no matter how incompetent, hypocritical, or abusive they are.

When we first come across such a dysfunctional work environment (especially early in our career), we are not sure what to make of it. We recognize that such preferential treatment of less qualified employees is neither ethical nor fair, but we don’t know how to handle it. [Read more…]

The Nanny State in Space

November 1, 2004January 9, 2011 by Chris Banescu

No sooner had SpaceShipOne safely landed in the Mojave Desert, making history as the first privately-funded manned space vehicle, than government officials rekindled their desire to regulate this nascent private industry. Such concern for the safety of future space travelers is commendable but somewhat disingenuous, given Congress’ rather poor record of oversight in maintaining the safety of NASA’s Space Shuttle program.

On Monday, October 4th, 2004, piloted by a civilian, SpaceShipOne reached space for the second time in two weeks. As reward for such a remarkable feat Mojave Aerospace Ventures, a private company headed by aeronautic legend Burt Rutan and funded by billionaire Paul Allen, will receive the $10 million Ansari X-Prize.

The revolutionary SpaceShipOne project was started by Burt Rutan partially in response to the challenge setup by the X-Prize. The prize was created to reward the first privately funded team that sent a three-person spacecraft into space on two different flights within a two-week period. With approximately $30 million in funds Rutan and his group were able to achieve this amazing goal in a relatively short amount of time and claim the award. [Read more…]