14.1: Biblical Insight
Applying the Bible to Business
Scriptures show us, “A good name is more desirable than great riches; to be esteemed is better than silver or gold.” Proverbs 22:1. When we apply this proverb to business, let’s look at a current market brand. The world's most valuable apparel brand, Nike , is valued at $31.5 billion. Nike has a name that people around the world recognize and trust. Branding allows companies to build relationships with their customer base to create loyal customers. These companies have won customers' trust and are supporting a sustainable future for their company.
A company that focuses on profits rather than a good brand name jeopardizes its long-term sustainability. A good reputation is essential for a long-lasting, sustainable business. Take a moment and think of company brands that people trust. Why are these brands trusted? What action steps can be taken to build a good reputation that customers trust?
A company that only focuses on profits and not a good brand name could be jeopardizing its long-term sustainability. A good reputation is essential for a long-lasting, sustainable business. Take a moment and think of company brands that people trust. Why are these brands trusted? What action steps can be taken to build a good reputation that customers trust?