There are four basic levels of desire. The second level of desires includes wealth, power, and respect.
How do desires from the the second level specifically relate to corporations under the current economic conditions?
How should corporations manage these desires to remain successful in the current state of the economy?
Discuss these questions in the context of the Four Principles of Purposeful Action, with examples and appropriate links. Please review the accompanying video post on “Managing Desires.”
This post was written by Brad Renter, who will lead the blog discussion for the week starting March 3.
The basic problem is the fear that the credit markets will simply dry up. If no one will lend money (or it simply becomes ridiculously expensive to borrow money), then some very basic economic functions cease to work. This may start out at a high level with bank to bank loans and bank to business loans, but it can also filter down to things like your mortgage (if you thought things were bad before, wait until adjustable rate mortgages reset with even higher interest rates, contributing to this spiral), car loans and even credit card payments. At the top of the chain, banks are increasingly afraid to lend to each other fearing that whoever they lend to (even for very short term loans) may default before the money can be paid back.
Already, some companies are seeing the direct impact. For example, Caterpillar, the maker of construction equipment is a company that was thought to be separate from the financial mess on Wall Street. It has great credit and a long history of being good for paying up any debt. Yet, in a matter of days, the interest that Caterpillar has to pay to borrow has shot up.
http://www.techdirt.com/articles/20081001/0445202427.shtml
Yeah. Mortagage filtering could be a really good idea to control the current economic crisis as well. As we discussed in an earlier discussion, whether Greed was responsible for the crisis, many agreed that mortagage was also an important criteria within the greed.
In todays society,the second level of desire will correlate with the combination of wealth, media influence and political prowess. one example at this instance is New York City Mayor Michael Bloomberg who went atop the annual Forbes list of the most powerful billionaires in the world.As mayor of New York City – America’s largest and most complex metropolis – he lords over more than 8 million people speaking 40 different languages within 305 square miles. He commands 311,000 city employees and an annual budget of $60 billion.And he paid for this job. Bloomberg left his massive media and financial information company, Bloomberg LP, in 2001 to effectively buy City Hall when he chipped in $74 million of his own cash to run for mayor. (He threw in another $85 million to keep the gig four years later and recently convinced New York’s City Council to allow him to run for a third term this year.Forbes reporters created a formula based on the size and scope of the industries billionaires control, the political influence they exert and the fortunes they hold.
Billionaires with political power are rivaled by those who control portions of the commodities markets. Indian industrialist Lakshimi Mittal controls 10 percent of the world’s steel production through his company ArcelorMittal. Despite his fortune falling $24.5 billion between March and November 2008.
http://www.iht.com/articles/2009/02/17/business/17Forbes-power.php
Venkat
While I agree that Bloomberg, “bought” his run at a third term in office. He did win in 2001 with 50% of the vote and won by 20% in 2005.
He did leave an organization that he ran, for an office where he does not make as much money and does not have absolute power.
Could he not believe that it is time to give back to the people of New York?
The second level of desire speaks specifically to the current climate of corporate lust. Banks likes Bank of America were provided federal bailout funds in hopes they would extend credit to borrowers. But instead banks use the funds to acquiring other banks and finance lavish junkets. Their actions seem to be driven by their insatiable greed and arrogance, which calls into question their core values. These corporations have let their desires of wealth and survival guide their actions at the expense of their customers and American taxpayers. They should manage their desires with the understanding that success is affected by the actions of others to remain successful in the current state of the economy.
http://www.nydailynews.com/money/2009/01/22/2009-01-22_former_merrill_lynch_ceo_john_thain_resi.html
http://www.time.com/time/nation/article/0,8599,1877511,00.html
I am in agreement that a large majority of the corporations involved in the current economic crisis have been and are being driven by greed and the second level of desire. As Americans we have over time changed our view of success from one of value to one of accumulation and a bottom line. The success of a company is no longer based on the positive impact it has on society but rather the value of it’s stock. Sadly it has become apparent that many “great” American companies have thrown corporate social responsibility out the window and replaced it with a “lookout for number one” mentality.
Yeah Margaux. Good point
I agree with your comments Margaux.
It is quite obvious when you’re in business your desires are to be wealthy, powerful, and well respected. And if you cannot achieve this state due to any circumstance you are not going to be satisfied and you feel like you are not achieving your vision, or your goals. Unfortunately, the current economic situation is not helping for businesses to achieve this desired state and companies are forced to improvise and look for alternatives. For many businesses its main focus right now is to “stay” in business and get by until the economic situation gets better and will overcome this negative cycle that we are currently experiencing.
However, there are businesses that are taking advantage of the economic crisis and are more profitable than ever. For example -“Family Dollar Stores, Inc. saw a 14% earnings increase for its first fiscal quarter that ended on November 29, 2008. According to the report, the chief executive, Howard Levine, attributes the profit boost to the current economic crisis, saying, “As more families face financial challenges in this environment, they are relying on Family Dollar for more of their everyday needs.” Over the past year in particular, the cost of grocery items has risen considerably. Consumers seeking to get the best value for their dollar are migrating to stores like Family Dollar to cut their grocery bills. In fact, food items were a large factor in the increase in earnings for Family Dollar.” [http://www.associatedcontent.com/article/1369215/dollar_stores_see_profit_increases.html]
Yes Mirek, during the times of economic distress, we actually see more and more economical consumption by the people. This has well reflected in the increase in the earnings of stores like Family Dollar.
In previous posts we have all discussed at length the various causes of the current economic crisis, and I believe we can all agree that there is, in general, an overabundance of greed that persists throughout corporate America. Not all of it, but a large portion of it. More specifically, I believe there to be a large of number CEO’s whose unwillingness to give up, at least temporarily, their hedonistic lifestyles contributed to the underlying corporate “rot”. Granted there are CEO’s out there that have multimillion dollar salaries and compensation that are worthy, but does Merrill Lynch’s John Thain really deserve close to $80 million dollars in annual compensation?
These corporate CEO’s have become accustomed to lavish lifestyles that focus on the accumulation of wealth. Their emotions and sensibilities are catering solely to the second level of desire, being focused entirely on wealth and the status it seems to provide. This focus has stripped them of their ability to relate to or sympathize with the rest of the population. This is a prime example of how the second level of desire can lead once successful navigators of the brook astray. These CEO’s have become lost and can no longer successfully navigate the brook nor are they able to relate to others.
If corporations are to survive the current state of the market they must focus on ensuring that the people they have in leadership positions are equipped to lead purposefully and are willing to help others and themselves instead of just themselves. The leaders of these companies must ensure they stay true to their vision and that they act as servant leaders. In this way these corporations and their leaders can inspire the rest of us and give us hope that although times will be tough there is an end in sight and it is reachable.
http://goodlifezen.com/2008/12/20/financial-crisis-the-greatest-gift-in-a-generation/
http://www.lightomega.org/NL/20080120-Americas-Economic-Crisis-Spiritual-Perspective.html
http://thenews.jang.com.pk/daily_detail.asp?id=162094
Joshua Goodlett, I believe we can all agree that there is, in general, an overabundance of greed that persists throughout corporate America. It is not only in corporate america it is happening in through out worldwide corporate companies. the rest of information was good.
A remarkable way to manifest desires is by tapping into your powerful, life fulfilling imagination. Why is a Powerful Imagination so important? So you can design your future in Vivid detail ahead of Time. If you don’t someone else will.
Your imagination allows you to see your future before time has caught up with it. No other creature on Planet Earth can picture itself in it’s own future in its own mind. Such a unique and remarkable human ability that is. We really do have the ability to manifest desires and dreams so far beyond our measure that all we have to do is picture it in it’s most crystallized form.
http://www.articlesbase.com/self-improvement-articles/manifest-desires-and-the-secret-power-of-your-imagination-741885.html
The human mind really is an amazing.
This is great. It also stresses the importance of introspection and meditation.