How to be Profitable and Moral

Jaana Woiceshyn holds a Ph.D. in applied economics from the Wharton School at the University of Pennsylvania. She has taught business ethics for over twenty years to undergraduate, MBA, and Executive MBA students and to various corporate audiences at the Haskayne School of Business, University of Calgary, and elsewhere. This is her first book. For more information, please see her website: http://www.profitableandmoral.com.

• Introduction: How to Be Profitable and MoralWhich Ethics? • OverviewValues as End Goals, Principles as Road Maps The Necessity of Pursuing Objective Values: An Issue of Life and Death • The Necessity of Guiding Principles: Why Acting on the Spur of the Moment Is Harmful • Rational Moral Principles Are Contextual—But Not RelativeWhy Egoism?The Principle of Self-Interest • Human Nature as the Gauge of Value • WhyHappiness Cannot Be the Standard of ValueRationality as the Primary VirtueThinking as the Main Means of Survival—and of Being Moral • The Virtue of Rationality in Business • What Rationality Requires in Thinking and in Action • The Role of Emotions • Guarding against Irrationality • Applying RationalityProductivenessMaterial and Spiritual Benefits of Productiveness • Productive Work Requires Thinking and Action • What about Rest and Retirement? • Guarding against“Unproductiveness” • Applying ProductivenessHonestyWhy Is Honesty Egoistic? • Honesty in Thinking and Action • Guarding against Dishonesty • Applying HonestyJusticeJustice in Thinking • Justice in Action • Justice as Contextual • Justice as Trade • Guarding against Injustice • Applying JusticeIndependenceRelevance of Independence in Business • Independence in Thinking • Independence in Action • Guarding against Second-Handedness • Applying IndependenceIntegrityRelevance of Integrity in Business • Integrity in Thinking and Action • How to Guard against Failures of Integrity• Applying IntegrityPrideRelevance of Pride in Business • Pride in Thinking and Action • Pride as Contextual • Humility as Anti-Virtue and How to Guard against It • Applying PrideCommon Misconceptions about EgoismSelfishness (and Greed) • Charity • Conflicts of InterestThe Social Context of Business: Capitalism, Rights, Government and the Current RealityProduction, Trade and Their Proper Social Context: Capitalism • Individual Rights • Initiation of Physical Force as Evil • The Role of Government • The Current RealityHow to Pursue Rational Self-Interest in a Mixed EconomyDefending Business to Create a More Pro-Business Environment • Running a Business and Resolving Moral Dilemmas Objectively ConclusionBibliographyIndex

BB&T grew from $4.5 billion to $152 billion in assets during my tenure as chairman and CEO and weathered the recent financial crisis as one of the strongest financial institutions in America. The foundation for this success is unquestionably the principles outlined by Jaana Woiceshyn in How to Be Profitable and Moral.