One important point that Credo emphasises in its early chapters is that economic thought was much more concerned with ethical issues when it initially emerged, with references to Aristotle's distinction between economic activity that serves the needs of a community versus wealth accumulation as such; or the emphasis in medieval economic thought on ethical obligations attached to economic exchange even with strangers.
Credo also points out that micro-economic theory of behaviour does not adequately capture how actors make decisions in the real world--it is often impossible to precisely calculate 'pleasure and pain' that follow specific decisions; people are not always just focusing on maximising utility for themselves and are thus not always or even usually acting 'rationally' as defined by neoclassical economics.
This is the enterprise's statement of its human resources credo
. It is not that an enterprise does not have a credo
; probably all enterprises operate on the basis of some implicit human resources credo
The so-called "historical credos
" in Deut 26:5-9, Josh 24:2-13, and elsewhere have had an illustrious career in twentieth-century biblical scholarship.
So I sat down with our public relations director and detailed a formal credo
based on the Golden Rule--the cornerstone of what would be called our corporate culture," he explains.
Kazuma Tateisi, who established Omron Tateisi Electronics, a global leader in control components for the automation industries, believes sustained growth results when the proper conditions are created in both the board room and on the assembly line Corporate credo
. Tateisi thinks instituting a corporate credo
is the first precondition for growth.