Or more specifically, Pacioli maintained that business people must insist on justice, honour, and truth, elements derived from an almighty being. For Paciloi, these three elements ought to guide business transactions. Pacioli believed that businesses must not pursue blind profits; instead, business needs to be aware of social constructs. However at the same time, he wholeheartedly believed in seeking maximum profits because profits are motivators, making people work both more efficiently and happily (Fischer, 2000).
Pacioli’s profit motive schema brings a sense of morality into business.
Perhaps he was influenced by his work with the Catholic Church (Fischer, 2000).
It seems that though Pacioli believed in maximizing profits, he believed in doing so in an ethical manner. In this way it seems that what Pacioli prescribed was more for business people than for business in general. Especially in today’s economic climate where the middle and lower class is struggling much more than higher income people, Pacioli’s prescriptions are relevant and necessary. In this way, it seems that Pacioli would prescribe business men and women to pursue profit in a way that is reasonable, lawful, and moral.
Though Pacioli didn’t specifically discuss the role of profit motives in not-for-profit organizations, his profit notions are relevant to such kind of businesses. As a person who has spent time working with not-for-profit organizations, it seems that non-profit leaders and executives do utilize a form of Pacioli’s profit motive thinking. Because Pacioli believed in doing business and earning profits in such a way that bears in mind ethics, morality, and social climates, he would probably look favorably upon these kinds of businesses and the people involved in decision making within them.
The Essay on Business and People Notes.
Business & People Asad De-industrialisations: The reduction of importance of the secondary sector of business activity in a country. Dividend: A payment made to shareholders from the profits made by a private or public limited company. Sole proprietor: One person who owns the business. Horizontal integration: Merger or takeover of another business at the same stage of production in the same ...
