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1. Ethical business practices

Several universal virtues underlie ethical behavior. These can be found in the writings of all the great religions. Among them are justice, respect, honesty, integrity, trustworthiness, fairness, service and moderation. It is increasingly recognized that ethical behavior makes good business sense. Customers prefer buying from a trustworthy vendor. Employees are more productive and are more loyal and creative when treated with respect and fairness. Companies that really understand how to serve their clients benefit from a major competitive advantage. Wise, longer term thinking brings more enduring success than decisions focusing only on short-term goals and the next quarter's profits. Most successful major enterprises today weave ethical values into their institutional attitudes. Often, they write them into their codes of conduct and statements of mission. Yet, the conventional wisdom holds that business and ethical behavior are at odds, an oxymoron. Indeed, such an image has become a major barrier to entrepreneurship and the creation of new enterprises and jobs.
There is no way around it: Business must be -- and must be perceived to be -- ethical and responsible.

2. Social responsibility in business

Enlightened companies are moving away from the assumption that the sole purpose of business is to create profits. They realize that business must also improve the health of the society in which they operate. Profits are important to the survival of the enterprise, but must not override the needs of all the stakeholders, which include -- beside shareholders -- employees, customers, suppliers, communities, our planet and its heirs. Increasingly, business leaders and managers are discovering that socially responsible practices enhance long-term profitability and competitiveness. Satisfied employees work better, energy efficiency lowers costs, and healthy communities help attract and retain good employees.

3. Values-based leadership

The common practice of using gross domestic product as the leading measure of a society's well-being overlooks the fact that material comfort does not necessarily bring either satisfaction or contentment. We need other measures of the quality of life and our well-being. Material prosperity without a spiritual foundation is empty and meaningless.
Members of the European Baha'i Business Forum believe in the need to apply spiritual principles, or human values, to the solution of economic problems. Just as the individual has a spiritual or non-material dimension, so does society have a spiritual purpose -- namely, to provide for the growth and development of its members. Such values as justice, compassion, trust and moderation need to prevail in the resolution of such problems as inequitable wealth distribution, chronic unemployment, the expanding welfare state, rapid technology displacement, managing the Earth's resources, encouraging a diverse workforce and resolving labor disputes. To achieve all this, social and economic structures mustcome to favor cooperation and unity, both conducive to spiritual growth, rather than competition, conflict, power, and dominance.

4. Sustainable development

Sustainability means meeting present needs without compromising the ability of future generations to meet their needs. Short-sightedness and greed have led to the serious depletion of once bountiful natural resources and polluted our once pristine environment. We believe that any call to global action for environment and development must be rooted in universally accepted values and principles. Those business leaders who perceive a new spiritual and ethical basis for human activity are progressively embracing these values. In the process, they find that environmental stewardship is compatible with longer-term growth and, in many cases, an important source of shorter-term economies.

5. A new paradigm of work

We devote most of our time and energy to work. Psychologist Viktor Frankl believes that mental illness is caused by a lack of meaning in our lives. If so, work without meaning takes a heavy toll in productivity, morale, and mental and spiritual health. If, on the other hand, we accept that we are both material and spiritual beings, and that the development of our spiritual qualities is of overriding importance, work must be redefined to meet this need for a deeper meaning in our lives. We can no longer regard work simply as a means of survival or as a means to earn money merely to fuel an ever-expanding acquisitive economy. To be meaningful, work must be seen as an opportunity for personal growth and as a form of service to others.
Recognition of these realities lies at the heart of modern management practices embodied in such words and phrases as "empowerment," "job enrichment" and "positive reinforcement." And it also leads to greater creativity and commitment at all levels of the organization.

6. Partnership of women and men in all fields of endeavour

Humanity can be viewed as a bird, with men representing one wing and women the other. Harmonious flight requires equal development of both wings. Similarly in organizations, those that encourage development and inclusion of such qualities characteristic of women as developing relationships, teamwork, caring, compassion, intuition and sensitivity are moving closer to the new paradigm of management practices needed to compete on terms of quality, service and timeliness. Diversity of gender as well as of race and ethnicity enhances a creative environment and brings new ways of thinking to companies as well as individuals. Since enterprises in developed countries rely on innovation for survival, it is crucial for them to harness human potential. Fostering the growth and development of women by welcoming their special capabilities and recognizing their contributions will thus enhance a company's prosperity.

7. Non-adversarial decision making through consultation

We believe the principle of consultation to be the best way to release the human potential of creativity and energy, leading to wise decisions and unity in their execution. The standard of truth-seeking demanded by this process far exceeds the usual patterns of negotiation and compromise. Debate, propaganda, and partisanship -- so characteristic of most collective action today -- work against the purpose of consultation which is to arrive at a consensus regarding a given situation and the wisest course of action. Consultation requires both personal detachment and group unity. It also requires replacing the desire to prevail in power struggles with the ability to listen and seek the best solutions.
We believe that through candid, dispassionate and non-adversarial consultation "the shining spark of truth can emerge from the clash of differing opinions." Recent research validates the observation that consultation is a characteristic of organizations that survive over the long term.

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