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BUSINESS AND FAITH INTEGRATION ASSIGNMENT
Business and faith Integration Assignment
Jessica Ramirez
School of Business, Liberty University
BUSI 530
Professor David Bosch
Author Note
I have no known conflict of interest to disclose.
Correspondence concerning this article should be addressed to Jessica Ramirez.
Email: jramirez82@liberty.edu
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BUSINESS AND FAITH INTEGRATION ASSIGNMENT
God's word shapes our daily lives as Christians and transforms how we think about
business. This is especially the case with Finance. Successful companies adhere to principles in
scripture. "Their leaders maintain high ethical standards and deal fairly, often serving employees
or customers first, and are good stewards with company financial resources" (Leone, 2015).
These leaders not only run successful businesses, but they also work in God-pleasing ways.
In Colossians 3:23-24, Paul writes: Whatever you do, work at it with all your heart, as
working for the Lord, not for men, since you know that you will receive an inheritance
from the Lord as a reward. It is the Lord Christ you are serving. (Whelchel, 2012).
Scripture tells us that God is the owner of everything on Earth. Our job is to work for Him and
be stewards of the resources that God has given us. This includes the way finances are managed
in business.
Business ethics play a critical role in daily business practices, decision-making, and the
overall success of an organization. "Corporations establish business ethics to promote integrity
among their employees and gain trust from key stakeholders, such as investors and consumers"
(Schroeder, 2018).Following teachings in scripture can also impact company success, and God's
instructions provide a basis for how we should act in a business-oriented environment. Romans
12:2 tells us, "and be not conformed to this world: but be ye transformed by the renewing of your
mind, that ye may prove what is that good, and acceptable, and perfect, will of God" (King
James Version Bible, 2022).
In addition to business ethics, the concepts learned in BUSI 530 teach us how to properly
maintain a company's finances and ultimately be good stewards of money. Understanding
corporate performance, company valuation factors, dealing with unforeseen circumstances,
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BUSINESS AND FAITH INTEGRATION ASSIGNMENT
keeping stakeholders happy, and financial planning are all helpful for adequately handling and
being good stewards of a company's financial resources.
In module 2, we learned the importance of analyzing and measuring corporate
performance. Multiple factors influence a company's valuation of worth. Industry
competitiveness, economic trends, and social environment are only a few external factors
impacting a company's value. Internal characteristics, including a company's financial history,
stock market trends, staff and management, and reputation, also affect its worth. Although some
elements do not hold monetary value, they can influence a company's worth the same as factors
with economic value.
A prime example is company reputation. A company's reputation is the most "valuable
asset as it can position [it] to gain a better competitive advantage, leading to more sustainable
performance. Highly reputable companies enjoy a privileged market position because they have
better access to resources on more favourable terms" (Ghuslan et al., 2021, p.1). A company's
reputation influences perceptions of quality, value, loyalty, and investing decisions, which play a
significant role in its valuation of worth and long-term success.
To be good stewards of a company's financial resources, it is vital for businesses to
effectively handle unforeseen financial circumstances and keep stakeholders happy. As taught in
module 5, companies must keep stakeholders happy, even during tough times. "Stakeholders are
pivotal to the success of a project or business…every good leader knows the importance of
keeping them engaged and satisfied" (Forbes Coaches Council., 2020). For a struggling business
to keep stakeholders happy, it is vital to conduct mutually beneficial conversations to achieve a
shared vision and to work together toward success. Communicating consistently, managing
stakeholder expectations, and maintaining transparency to avoid surprises is essential. It is
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BUSINESS AND FAITH INTEGRATION ASSIGNMENT
crucial to make stakeholders happy, as a "failure to identify stakeholders, understand stakeholder
needs, and meet their needs can result in spectacular project failures" (Serrador, 2009).
As discussed in modules 7 and 8, financial planning helps establish a business's long-
term and short-term financial goals. It also provides a gauge for evaluating business
performance. Short-term financial planning focuses on current assets and liabilities of a
company. In contrast, long-term planning focuses on long-term goals and the investments and
financing needed to meet these goals. Financial planning is necessary for being good stewards of
a business's finances. Every financial decision a company makes impacts other choices. This
interconnectedness causes one poor decision to have a domino effect on all other financial
decisions. Ongoing financial planning can help businesses make wise decisions and achieve
short-term and long-term goals. Proverbs 21:5 says, "the plans of the diligent lead to profit as
surely haste leads to poverty" (New International Version Bible, 2022).
Adhering to principles taught in scripture transforms the way we think about business.
Companies must deal in an ethical manner and be good stewards of financial resources,
especially since God is the owner of everything on earth. The concepts taught in BUSI 530 help
teach us how to deal in an ethical manner, manage a company's resources, and ultimately be
good stewards of money.
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BUSINESS AND FAITH INTEGRATION ASSIGNMENT
References
Forbes Coaches Council. (2020). 14 concrete strategies for keeping stakeholders happy.
https://www.forbes.com/sites/forbescoachescouncil/2020/03/30/14-concrete-strategies-for-
keeping-stakeholders-happy/?sh=1676c0a61665
Ghuslan, M. I., Jaffar, R., Norman, M. S., & Mohd, H. Y. (2021). Corporate Governance and
Corporate Reputation: The Role of Environmental and Social Reporting
Quality.Sustainability,13(18), 10452. https://doi.org/10.3390/su131810452
King James Version Bible. (2022). Bible Gateway.
Leone, N. (2015). The bible is a good business guide.
https://www.usnews.com/opinion /blogs/fa ith- matters/2015/02/20 /the- bible- is-a-good-
guide-to-best-business-practices
New International Version Bible. (2022). Bible Hub.
Schroeder, K. (2018). 3 reasons why business ethics is important.
https://www.redlands.edu/study/schools-and-centers/business/sbblog/2019/may-2019/3-
reasons-why-business-ethics-important/
Serrador, P. (2009). Stakeholder management: keeping your stakeholders thoroughly happy.
https://www.pmi.org/learning/library/stakeholder-management-keeping-stakeholders-
happy-6697
Welchel, H. (2012). Four principles of biblical stewardship. https://tifwe.org/four-principles-of-
biblical- stewardship/
