Impact on Traditional Chinese Business

Confucian ethics, the most quintessential and fundamental thought system governing Chinese culture for thousands of years, posed great impact on the economy, politics and culture of China. Without doubt, Confucianism has formed a strong bond with traditional Chinese business culture since a long time ago.

The idea of profits in Confucianism is a double-edge sword. On the one hand, the disciplines of Confucius have clearly stated that it was immoral for those of senior positions to indulge on profits for their own. On the other hand, the risk-taking commercial activities of the merchants should meet people’s various needs.

In a nutshell, Confucian ethics were fully incorporated into traditional Chinese business activities. According to Confucianism, merchants’ business activities should be subjected to ethical principles with righteousness rather than profits as their core principles. Collective benefits should outweigh individual benefits, and the same also applies to spiritual values against materials values.

The ethical principles have set up a series of practical guidelines and rules for business men to adhere to. Ren, the core value of Confucianism, which includes benevolence, humanity, kindness and goodness, play a significant role when it comes to pursuing profits and balancing ethics. The ethics of Confucianism aim to weed out some evil practices in carrying out business activities such as cheating, manipulating supply and demand so as to increase rates, corruptions of civil servants, etc.

According to Confucianism, another term, Li, a set of ethical principles governing people to behave politely and ethically, also posed deep impact on traditional business activities. Mutual respect, politeness, quality service and good interpersonal relationship in a hierarchical society are also considered as priorities in doing business, outweighing the pursuit of profits.

Xin, another Confucianism virtue meaning faithfulness, trustworthiness and honesty, is also a vital principle guiding business activities. Only when honesty and trustworthiness are thoroughly practiced could harmony and mutual benefits be achieved in the business activities.

Yi, which means righteousness, the responsibilities of doing good for the human being. In traditional Chinese business activities, Yi guides the flow of business as people should have the ability to know what is the right thing to in spite of losing great profits.

Posted on

Business Plan for a Catering Business

Creating a business plan for a catering business may not be as tough as some of us consider. Moreover, developing a business plan is very important for all of us that are interested in starting their own catering business. A catering business plan helps lay the foundation for the main components of your business. It also serves as a vital tool if you are seeking funding for your start-up; since all lenders will request your business plan. Keep in mind that starting a small catering business is also a start-up option which may only require the use of some of your personal savings.

The benefit of a catering business plan includes allowing you to focus on the mission and goals as well as identify the basic components of your company.

Let us look at the basic points of a business plan for a catering company.

Description of your company.

In this section you need to describe your catering business in a clear and enlightening manner. You will need to include the name and location of the company, owner(s) background and experience, and the type of catering services that will be provided. Note that you would want come up with a business name that accurately represents your business.

Unique Selling Position also known as your USP

Your USP is what makes you different from the competition. When someone is looking for a caterer why should they select you? It goes without saying that you will provide delicious dishes and professional and friendly services; these days that just is not enough. How are you going to stand out from the competition? When writing this section I would recommend that you focus on determining how you will create a memorable and exciting experience for each of your clients. The goal is to have every client think of you when they are in need of catering services.

Organizational Structure

As the business owner you cannot single handedly take care of every aspect of your catering company; this means that you will need staff to assist you in running the business. In this section you will need to list the key people that will be engaged in your catering business. You not only want to include the names of key people but specific information about their background and experiences, and the role each of them will play in your company.

Posted on