Friday, November 15, 2013

Commercial Aspect to Virtues - Excellence.

As an expression of my will to live and love life, I show a particular keenness towards the things that I enjoy. It follows, then, that I will continue to strive for excellence in that pursuit, whatever it is.

Matching the right task with the right person to perform the task is one key to productivity and entrepreneurs are alert to this prospect. If those who are producing a good or service excel at it then everyone in the entire economy benefits, ultimately.
Imagine yourself having to choose between various products of similar prices but you happen to know that one company has a reputation for excellent production standards. This attribute is known as product quality and it is a major factor in decision-making. Of course you, as well as everyone else, will choose the best product.
Here we have product quality as one example of the 'tangible goods and services' emerging from excellence. By acquiring and practicing excellence there will be a more refined division of labor which will translate into greater productivity. A ‘premium,’a price, is ascribed to the practice of the virtue, in this case ‘excellence.’ In other words, there is a commercial aspect to the virtue. It is a ‘traceable’ market phenomenon.
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