Final answer:
J.C. Penney applied the biblical principle of honesty and fair pricing in the foundation of his company. He believed in treating customers with respect and offering them quality products at reasonable prices.
Step-by-step explanation:
J.C. Penney applied the biblical principle of honesty and fair pricing in the foundation of his company. He believed in treating customers with respect and offering them quality products at reasonable prices. This principle can be seen in J.C. Penney's commitment to providing transparent pricing and fair deals to his customers.
For example, J.C. Penney introduced the concept of fixed pricing, where products were marked with the same price for everyone, eliminating the need for haggling or bargaining. This approach was based on the biblical idea of being truthful and ethical in business transactions.
By applying this biblical principle, J.C. Penney built a reputation for trustworthiness and integrity, which helped his company thrive and gain the loyalty of its customers.