Wealth

As the young man walks away, Jesus remarks, “Truly, I say to you, it will be hard for a rich man to enter the Kingdom of Heaven.”

Clearly the values of business and the values of Jesus can be in conflict. Even for the most creativity-loving entrepreneur, wealth is usually an important measure of success. There is, however, a difference between using wealth as one of many measures or as the only measure.

As the parable of the young man demonstrates, it is important not to obscure the fundamental question of self-identity. Are we only the sum of what we own, or are we something more and something much more profound?


Self-Portrait with Vanitas Symbols, David Bailey (1651)

In the business world the enthusiasm of entrepreneurship is often succeeded by the discipline of quarterly statements. An enterprise founded on audacious risk-taking, becomes acutely risk-averse. Once we have “got it” we almost always focus on “keeping it.” This focus on preserving instead of growing often sows the seeds of self-destruction.

Harvard Business School professor Michael Porter writes,

One common problem in emerging industries is that pioneers expend excessive resources defending high market shares and responding to competitors who may have little chance of becoming market forces in the long run. This can be partly an emotional reaction. Although it may sometimes be appropriate to respond to competitors vigorously in the emerging stage, it is more likely that the firm’s efforts are best spent in building its own strengths and developing the industry.

Build your own strengths – discover and amplify your authentic identity – and develop the industry – contribute positively to the community of customers and competitors that will expand your opportunities.

Wealth is not necessarily a problem. Greed, avarice, and fear of losing wealth are serious problems. Wealth that is used to advance justice – social harmony – and righteousness – personal identity with God – can be good, even very good.

Many business scholars argue that in today’s economic environment the primary role of the business leader is to perpetually challenge the enterprise to change and grow.

Peter Drucker has identified five deadly business sins:

1. Worship of high profit margins and of premium pricing.


2. Mispricing a new product by charging what the market will bear.


3. Cost-driven pricing.


4. Slaughtering tomorrow’s opportunity on the altar of yesterday.


5. Feeding problems and starving opportunities.
   

These are business sins because they seek short-term financial gain at the expense of long-term strategic advantage. Wealth is what we have today. Value is more than wealth. Value is the capacity of the enterprise to adapt to changing conditions, to be even more creative, and to be even more adept at taking risk.

Jesus does not want us to confuse wealth and value. We should not be possessed by what we own. We should use our possessions to fulfill our greater purposes, both as individuals and as business organizations.