Introduction
Entrepreneurship is an inclusive process of identifying a business gap and taking financial risks to start and run a business to make profits. The Bible in the book of Proverbs 20:13 encourages entrepreneurs to constantly look for opportunities that are likely to bring forth harvest (King James Bible, 1769/2017). People are encouraged to work as a means of generating profits and to offer service to society. A free market is a unique economic system where buyers and sellers are willing to trade at the given market prices. Free markets operate without the intervention of the government or other third parties. It is imperative to note that entrepreneurs are essential for fulfilling God’s purpose and are creative people who devise means of helping others. Entrepreneurship and free markets fit in the principles of order, intelligence, truth, and ethics by abiding to the laid down rules for success and sustainability.
Businesses are regulated by a set of laid down rules and principles to ensure every player in the market is fairly treated. The government’s only role is to ensure that the principles are followed and that none of the players in the market are affected. In a free market, entrepreneurs determine the cost of their goods and services based on market demand and supply dynamics. Although the Bible does not explicitly explain free market economics, it underscores the importance of ethics, fairness, justice, and human limitations when serving humans (Shinen, 2020). Entrepreneurs are encouraged to reflect the goodness of God when conducting their daily transactions in business.
Where Entrepreneurship and Free Market Fit Within the Principles
Principle of Order, Intelligence, and Truth
The biblical worldview explains entrepreneurship as an essential service to society when it is practiced based on truth, intelligence, and order. The book of Romans 11:36 evaluates how God operates, and he does things as he pleases, how he pleases and takes complete control of the business decision (King James Bible, 1769/2017). Freedom is expressed in the verse; entrepreneurs are, therefore, free to choose the kind of business to invest in and with whom to trade. Since the principle of order, intelligence and truth allow entrepreneurs to operate with maximum freedom, entrepreneurship, and a free market fit into the principle. According to John 1:1, the world began as a word that accentuates the role of creativity in creating things that never existed before. According to the principle, creativity is essential, and the entrepreneur has the right to manipulate the business as long as profits are maintained (King James Bible, 1769/2017). It is imperative to note that free market and entrepreneurship fit into the principle as creativity is highly required to maintain competitive and sustainability in business.
According to Acts 17:25, God is the Supreme Being in charge of all things and gives all people breathe as he pleases. Entrepreneurs must also work towards universal good by operating according to God’s demand because failure to do so may lead to deprivation of operating permits. The principle of truth guides all businesses to operate according to the law enforced in a given jurisprudence. Entrepreneurship and free markets fit into the principle of truth in that the buying and selling of goods must be based on truth. If the entrepreneurs go against the truth and exploit the customers, the laws governing the land may lead to revoking of the operating licenses. Acts 17:28 states that all people live according to the grace of God and must maintain a positive relationship for life to be assured (King James Bible, 1769/2017). The message is further underscored in Isaiah 42:5, where success lies in the people who follow the laws.
Principles of Ethics Used to Evaluate People and Nations
Ethics determines what is morally wrong or right when conducting business transactions. Businesses can only thrive when entrepreneurs operate with honesty, trustworthiness, fairness, and respect. Every individual in the business field is evaluated based on fundamental principles. According to Exodus 20:1-17, the Ten Commandments are fundamental for humanity to have a positive relationship with God (King James Bible, 1769/2017). Similarly, the business domain also uses ethical standards to determine whether a person in business is ethical or not. It is prudent to note that entrepreneurs that are not ethical are likely to jeopardize their business in the discourse. Entrepreneurship and free markets fit into the principle of ethics because the success of a business in society depends on ethical principles. Romans 13:1 indicates that all people must submit to authority as all the power and influence is given by God (King James Bible, 1769/2017). Entrepreneurs who fail the ethics test are likely to fail in the discourse.
Principle of Recognizing Human Limitations
Human limitations hinder the success of a business, and an entrepreneur must understand them to put more effort into overcoming them. Entrepreneurs who understand and acknowledge their limitations are likely to put in more effort and use the available resources to achieve their targets. Psalms 90 states that people get the meaning of life not through what they do but through what authority they operate. It is imperative to note that some of the success enjoyed by entrepreneurs is not entirely due to their efforts but is due to God’s grace. Psalms 139 praises God’s power and ability to watch everything in heaven (King James Bible, 1769/2017). Recognizing limitations and putting in more effort to overcome them is the prerequisite for success.
Conclusion
Entrepreneurship is viewed as a divine entity to serve God’s people in society. Creativity and passion are essential for entrepreneurship, and the bible terms it as a way of full filling God’s purpose for humanity. The free market is an economic system that makes businesspeople operate without a third party’s interference. In the world views, businesses only thrive when they follow the fundamental guiding principles. The main fundamental principles are ethics, order, truth, intelligence, and recognition of human limitations. Entrepreneurship and free markets fit into the principles because their success depends on implementing the strategies and abiding by the laid down rules.
References
King James Bible. (2017). King James Bible Online. (Original work published 1769). Web.
Shinen, B. (2020). The Christian entrepreneur: Dream, plan, execute, grow. Baker Books.