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7 Deadly Sins in Business – Greed and Gluttony 
Bob Ryan, About Purpose, Inc. ©2008 Click icon for MP3 version
“This is a business newsletter, what do I care about The 7 Deadly Sins?” Read on. Because those 7 Deadly Sins that most of us grew up hearing about will destroy a business just as fast as they are said to destroy our lives. These next several months this newsletter will answer why you really should care about The 7 Deadly Sins in your workplace.
Last month, we started with Lust, and outlined four good ways lust can become a stumbling block for businesses. (Read 7 Deadly Sins – Lust).
The focus this month is on the two Gs – Gluttony and Greed. They are twin sisters that look alike on the surface, but have different personalities. Both are deadly to the workplace and all those in and around it. Where Greed is the inordinate concern with acquisition of things, Gluttony is the over-indulgence in things. Where Greed is primarily focused on things, Gluttony can also focus on experiences, relationships, prestige, etc.
Is Greed always bad? Well, yes. The definition of greed is “selfish and excessive desire for more of something (as money) than is needed.” Notice the parts of the definition. “Selfish” suggests a self-centered lack of concern for the needs of others – never a good thing in business. The result will be a lack of customer focus, a disregard for company values and goals, and an entitlement attitude that will certainly bring harm to the organization. “Excessive” almost always means that something else will be sacrificed to the drive for acquisition. Our businesses and our lives run best when in some sense of balance. Excess threatens that balance.
Greed is a deadly sin in business. Listen to the news almost anytime and there will be a story of greed taking down an entire corporation, destroying the livelihood of its employees, trashing a brand promise, and seriously injuring entire industries. At this writing, the U.S. just approved a $700 billion bailout package designed to bandage the excesses of greed in the banking and investment industries. (There’s an interesting question for debate: “At what point does ‘leveraged buying’ become greed, i.e. a selfish and excessive desire for acquisition?”)
Gluttony is over-indulgence in things. While it is commonly used with regard to food, it can be over-indulgence in anything. Gluttony is closely related to greed and may be inseparable. Gluttony has some more practical, everyday implications for the workplace, though. Consider some of the faces of gluttony and think about how it affects business.
About “the chase:” There are those for whom the thrill of the hunt outweighs the sound operation of the business. There must be both hunters and gatherers, but the chase glutton cares little about the outcome once “the kill” is made, often saddling the company with low margin, high risk, resource-sucking projects.
About food: Think about how you react to someone who exhibits gluttony. S/he looks to be undisciplined and powerless. There is often an excessive amount of money, time and energy that goes into eating. Focus is frequently distracted and drawn to food over more important, pressing matters.
About substance abuse: While there are clearly medical and biological issues here, substance abuse is an example of gluttony to the extreme. The effects of alcoholism, drug abuse, nicotine addiction, etc. are clearly harmful to the workplace
About adrenaline junkies: Let me suggest that extreme risk-taking is a form of gluttony. In the marketplace, this is very dangerous. I’m not talking about extreme sports in the office, although that would be pretty obvious. I’m referring to those who are energized by placing the business, their coworkers, the company money at risk because it gives them an adrenal rush to do so. Rarely is it good business, even though there may be tremendous run of luck. Leveraging the business assets unwisely is at best unethical, and often illegal.
Both Greed and Gluttony are characterized by a lack of self-control and an excess of self-interest. Neither of those characteristics is healthy in a business setting. Both can lead to a host of other problems in the workplace such as embezzlement, misrepresentation to customers and vendors, dysfunctional teams, and breakdown of corporate values. Examine yourself and your workplace carefully. If you see greed or gluttony in any form, it is time to take immediate action.
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