Judy Wicks Good morning in Beautiful Business - Book Report/Review Example

Analysis paper on Judy Wick’s Good morning, Beautiful Business Name Institution Date Analysis paper Approach to business The book, “Beautiful Business” by Judy Wicks outlines her career growth from the time she became of age in the 60’s. She commenced with the Free People’s Store establishment, followed by a restaurant business which eventually landed her in White Dog Café, her ultimate breakthrough in localization movement. Her approach to business is based on the perception that successful entrepreneurs should be mindful of their surrounding environment besides being on a profit making motive. This, according to her is the true nature of steps towards becoming an owner of an organization that is globally recognized as socially responsible, and successful. Social Responsibility is an aspect that has been widely practiced in today’s global business environment. It has become a necessity championed by all organizations for sustainability of the global ecosystems. Firstly, it is worth noting that social responsibility has four dimensions. They are, one – legal dimension, two – political dimension, three – economic dimension and four – ethical and philanthropic dimension. Economic dimension pertains to the responsibility of businesses’ ability to make profits over its lifetime existence. Legal dimension outlines that businesses should comply and follow all the set rules and regulations of a government through the constitution. For instance, companies should disclose and remit all tax dues to the government as it’s the money that the government uses in funding growth and development projects. On the other hand, ethical/philanthropic dimension is concerned with a society’s norms and ways of life. They are characterized by qualities such as generosity. Judy Wicks writes about her journey as an entrepreneur, at the same time highlights how an entrepreneur evolves paying particular attention to possible ways in which the entrepreneur would change both the immediate and far away community. She is keen to nurture entrepreneurs who are all round and have good relationships with the ecosystem as whole. According to Judy, an ideal economy is one that is not only resilient and sustainable, but also prosperous. Following this, it is evident that she uses the relationship theories of social responsibility; Triple Bottom Line. These encompass business and society, a stakeholder approach, corporate social responsibility and social contract aspect which are an integral part in explaining and analyzing the triple bottom line theory. Happiness and security in any society are a necessity upon which the community is molded into sensitive and socially ethical individuals. The theory mainly focuses on businesses ability to act as a member of the immediate community championing sustainability. Business responsibilities to stakeholders As previously mentioned, Judy is keen on building a business from the ground up based on sustainability. She advocates for businesses that are socially, economically and environmentally friendly. She mentions various stakeholders that play a role in the success of any business economically, socially and environmentally. They include, the immediate community, the entrepreneur, the government, corporate both local and international. Entrepreneurs are perceived to have the overall responsibility of ensuring that an organization grows and expands without compromising ethical and legal standards. In this light, they ought to be committed and hardworking people of integrity. This is illustrated by her encouraging story from when she was as young as 9 years. Therefore, a business should offer the owner gratification both intrinsic and extrinsic towards greater happiness. This molds one into a responsible and motivated entrepreneur. Secondly, there is the government, the body that governs a state through the constitution. It is held responsible for any externality in a country as it has the power to issue or fail to issue demolition permits. A business should ensure that it follows all the relevant laws and legislation put in place to ensure sustainability efforts are not disregarded. Thirdly, the community is what constitutes a society. Following this, an organization should be run in a way that it ensures complete whole growth of the community around it. Through getting involved in corporate social responsibility activities to help make the community environment socially and economically efficient. Lastly, a business has a role in maintaining a win-win small business. Judy uses the famous quote, “Charity begins at home” to capture a business responsibility to the local and multinationals relationship. A business that encourage innovation and creativity in the local industry helps it to grow all round, a concept that Wicks states as an integral part of any localization movement. Instance, Judy states that business owners can make a buy from the minority groups, mentor young upcoming entrepreneurs and build strong beneficial relationship. In addition, corporations are mandated with the responsibility of ensuring that the local economy grows with more small-to-small win-win businesses. In addition, she terms massive growth as one of the major causes of poor relationships between employees and the top management as it creates more distance. Consequently, all corporations should ensure that amidst their expansion, the environment and immediate community are not neglected through negative externalities, such as natural resource depletion. Ethical principles Competition and innovation are necessary in any business environment. However, they must be accompanied by the necessary ethical principles to ensure that the social norm of good ‘un-deviant’ behavior is not broken. Following this, Judy Wicks not only highlights the ethical principles, but also stresses on their importance using her experiences as an example for illustration. They are discussed below: Fairness. This is illustrated by the fact that Judy employed people in her businesses and made sure that they earned a decent living wage (Wick, 2013). Beneficence-to do good. “Business is really about relationships with everyone we buy from and sell to, and work with. Money is simply a tool” (Wicks, 2013). This is a phrase Judy uses to show that when entrepreneurs aim to do good to the community and the surrounding environment, they will fill intrinsically fulfilled and more content as they will have made a positive difference in the world. Furthermore, her White Dog business was the leading businesses in local food movement owing to the fact that it promoted purchase of locally made produce that was considered naturally raised. Additionally, she also mentored students in schools on ways to keep the environment sustainable through introducing recycling and decomposition programs. In fact, she introduced solar heated water systems, eco-friendly stationeries as well as tapping electricity from 100% renewable sources. Furthermore, the BELE movement she established has about 30,000 new businesses as she hopes to inspire and reach out to more businesses across the globe on maintaining sustainability and economic efficiency. Respect for autonomy. “Diversity increases creativity and innovation. As entrepreneurs we must work consciously to build an inclusive economy so that we can all benefit from a diversity of talents and ideas, and everyone as the opportunity to contribute their gifts.” Truthfulness. Judy emphasizes on the concept of successful entrepreneurs being true to themselves to ensure they derive maximum utility for their entrepreneurship. She advocates for people connecting their hearts with their minds in making decisions that pertain a business and how it may be useful in the community around it towards creating a sustainable environment globally. Other she advocates include: Justice. This is illustrated by the phrase, “As we build a new economy of new local businesses, this is the time to make great strides in economic justice” (Wick, 2013). Economic efficiency. Similarly, this is best illustrated using the following phrase: “Publicly traded corporations are required by law to serve the financial interests of stockholders above all else” (Wick, 2013). Contributing liberty. “Rather than constantly growing our size, sales and profits, we can grow by expanding our knowledge, consciousness and creativity, deepening our relationships, and increasing our happiness and well-being” (Wick, 2013). Local living economy according to Judy in solving social problems? At age 25, Judy experienced her first BALLE moment when she joined Sansom local committee activists in protesting demolitions of old buildings through a restraining order. Local movements will help solve environmental, equity distribution and economic problems. She gives an analogy of how Cuba managed to become a self-reliant state through community spirit which she witnessed while on a visit to the state. Some of the problems that emanate from a community with fewer morals include social ills such as illiteracy which results in robbery cases. However, with such local movements, the entrepreneurial energy will be cultivated in the society, hence creativity and innovation. As a result, there will be fewer imports of necessity commodities, more creation of national brands and heritage in win-win small businesses within a state. Ultimately, the movements she envisions also serve to curb environmental issues through collective mass action. It is through such movements that Judy perceives to enhance collective responsibility through actions such as purposing to consume naturally made food products from local farmers in the community. Besides, when they coined the phrase that charity will always commence at home, it is through such movements that positive change is channeled into the community towards becoming socially and economically viable, efficient and efficient. Conclusion In my opinion, Judy Wick’s highlights unique and relevant problems facing the world. In addition, the assertion that an economy is transformed when entrepreneurs connect their heart and heads in business is practical. Furthermore, she points out that a community that is steered with individuals of integrity, and possess ethical qualities such as kindness, creativity, innovation, generosity and justice will always be prosperous and . It also offers a platform for more economical transformation across the globe. This is illustrated by Judy’s collaboration with her colleagues from North America to help her achieve her goal of local and international transformation. Lastly, she also advocates for people practicing moral values acquired at home even at work. This avoids their compartmentalization resulting in a happy community based on moral values. References Bingham, G. B. (2013, March 28). From the City of Reciprocity, Judy Wick's Classic Memoir: Good Morning, Beautiful Business. Retrieved from The Blog: http://www.huffingtonpost.com/g-benjamin-bingham/from-the-city-of-reciprocity-judy-wick_b_2957912.html Wick, J. (2013). Good Morning, Beautiful Business: The Unexpected Journey of an Activist Entrepreneur and Local Economy Pioneer . Retrieved March 18, 2015, from http://www.kosmosjournal.org/article/good-morning-beautiful-business/ Wicks, J. (2013). The Unexpected Journey of an Activist Entrepreneur & Local economy Pioneer: Good Morning , Beautiful Business. Philadelphia: Chelsea Green Publishing. Wicks, J., & Witt, S. (2004, October). Shumacher Centre for a New Economics: Good Morning, Beautiful Business. Retrieved March 18, 2015, from http://www.centerforneweconomics.org/publications/lectures/wicks/judy/good-morning-beautiful-business William, B. (2002). The Sustainability Advantage: Seven Business Case Benefits of a Triple Bottom Line. New Society Publishers. Read More