From time to time some business students proudly announce their decision of following more “important”, “impactful” or “rewarding” areas, such as non-profit. Sometimes, the word “business” sounds as an inferior career choice, undignified in front of more “noble” causes, such as working for PETA or WWF. However, business is without a doubt a good guy in the fight against the evil forces. Businesses are key players in an economy and deal with the allocation of resources around the world, in a world where we suffer from scarcity. They also create jobs and incomes, promote economic development and, due to the global economy, contribute to increasing the standard of living for everyone. Last, but not least, businesses donate money and support numerous social causes, from global warming to microloans in underdeveloped countries. Just look at the example of the Gates Foundation created by Bill Gates.

The second “dirty” word that can be heard in business classes is advertising. Besides the sometimes hilarious ads that entertain everybody, most consumers, including business students, consider advertising the manipulatory member of the business family. It is true that consumers, regulators and academics have called in time for better efforts to improve the image and practices of advertising. However, less known are its benefits. Advertising feeds us information on a daily basis, it provides us necessary pieces of knowledge that help us make decisions. It also helps keep businesses in check and, many times, it acts as the market regulator, as comparative ads will surely underline the errors and weaknesses of competitors. Advertising stimulates competition, innovation and new product development, and many times it promotes freedom of communication. Nevertheless, it creates jobs and keeps the economy developing. After all, a well-developed economy is desirable for governments and non-profits.

Could we benefit from the presence of more ethical individuals in business? Absolutely, nothing could be truer. However, we cannot dismiss business as bad for society just because of a few “wolves from Wall Street”, just as we cannot belittle all non-profits just because some of them have been proven scams. Honest business and advertising are some of the best causes where you can be involved. Giving someone a job is a great cause.

Maria Petrescu, Ph.D., is Assistant Professor of Marketing in the H. Wayne Huizenga College of Business and Entrepreneurship, Nova Southeastern University. She can be reached at mpetresc@nova.edu

This entry was posted on October 17, 2016 at 9:02 AM and has received 3054 views. There are currently 14 comments. Print this entry. Download attachment.