The Mormon Way of Doing Business

In the book The Mormon Way of Doing Business, Jeff Benedict outlines the lives of a few select LDS business leaders. The men he selected are, or were, running some of the nation's largest and most profitable companies - companies like American Express, Dell, Deloitte, Madison Square Garden Corporation, and Jet Blue. He also profiled Kim Clark, former dean of Harvard Business School (he is now President of BYU-Idaho and a member of the Seventy). In each case, these men serve as examples of how a business person should strive to conduct business, both in the office and away from the office. While the book itself wasn't written as well as it could have been, there are several pieces of great information about the lives of these men and their families. I feel many of the insights are worth sharing, so I will post a few of them over time.

The first insight I would like to share comes from chapter 4, "Guarding Your Habits."

I have just returned from a business trip in Las Vegas. I have to admit, I don't like going to Las Vegas in general.

ME CLIMBING ONTO A SOAPBOX---

At the risk of sounding prude, I just feel that there are too many outlets for addictive vices. This leads to a lot of immorality and acceptance of evil behavior. Of course, this is the "brand" Vegas wishes to have and has perpetuated through its ad campaigns, "What happens in Vegas stays in Vegas." That is certainly a message from the Adversary and it encourages individuals to make the sort of decisions that breed regret, sorrow, and depression.

ME CLIMBING OFF THE SOAPBOX---

In chapter 4, there is a section on "Alcohol." It points to the fact that each of the men in the book have abstained from alcohol consumption. It may not seem like that big of a deal to many of us, but in the business world, when a person does not drink, it can bring a lot of attention to that person. Most business people drink socially, if not more. It is assumed that there will be drinking when there are after-hours business meetings, conventions, parties, and dinners.

Here is an excerpt that will illustrate:

"At the early stages of their business careers, the practice of avoiding alcohol produced some awkward moments for some of them. Jim Quigley [CEO of Deloitte] was just 26 when he left Salt Lake City to begin working at Deloitte's Manhattan office. Shortly after relocating to the New York area he attended his first company holiday party at the prestigious Greenwhich Country Club. He soon discovered he was about the only person in the room without an alcoholic drink in his hand. As the newcomer, Quigley wanted desperately to fit in and make a good impression. 'It was a defining moment for me as a very young man in my business career,' said Quigley. As the party wore on, he observed that the substance of the cocktail conversation began to deteriorate as alcohol consumption increased. A few individuals ended up revealing things they certainly would not have disclosed had they been sober. 'Some people were very compromised as a product of their drinking,' said Quigley. 'I concluded from that experience that it is not a disadvantage not to drink. Instead, it is a big advantage.'

The advantages are subtle, but real. 'First you avoid ending up in situations where your judgment is compromised,' said Quigley. 'Second, you are less likely to say and do things that may embarrass yourself or your company. You may not be as entertaining or funny. But there's a real upside to enjoying social interaction without alcohol assistance.'"

I was a witness to this type of occurrence yesterday. I was with a few people and their wives as the men drank until they were drunk. Once they were drunk, they were saying things that were completely inappropriate and compromising. A couple of the wives became upset at their husband's actions towards other women, and rightfully so. Also, one person began sharing information about business that he normally would not have shared. And, it wasn't just the information he was sharing, but the way he was sharing it, that indicated his true feelings about several situations. All in all, I was uncomfortable due to the level of intoxication and belligerence.

Also, I heard others talking about their previous night, and I was embarrassed for them, although laughing, at what I heard. One guy, in his 40's, was passed out on a slot machine and security had to call his wife to come get him. Another guy bought taxi cabs for 12 women in order to meet them at a dance club. Then, while at the dance club, he bought them all several drinks. He is a married man with children. Not to mention, he paid using his company's money, which is supposed to be used for "business" purposes.

I appreciate the examples of the men in this book. Not necessarily because they are following the gospel plan, but because they are following the gospel plan while excelling at the highest levels of business. It is great to know that there are at least a few great men running America's successful companies while raising great families and serving in time consuming church callings.