(18) Business administration, not economics
Then, what will economics of the 21st century turn out to be like in concrete terms? When the notion of blessings of nature (gift from nature) and the sense of right and wrong are added to economics of the 20th century, what will the resulting economics be like?
In my opinion, business administration, not economics, will flourish in earnest in the 21st century. Accordingly, “economics of the 21st century” should be renamed “business administration of the 21st century,” which presumably would be a combination of the notion of blessings of nature (gift from nature) and the sense of right and wrong with economics of the 20th century.
To begin with, economic activity is an activity that takes place reciprocally between a creator of value and a consumer of value. Since LOHAS is a new discipline for the way of life for consumers of value, it follows that, in the age to come, there must be a new discipline for the way of life for creators of value as well. That constitutes the new business administration of the 21st century and the business administration of the Great Collaboration society.
Basically, running a business is about creating value, and an enterprise is a site in which that value is created. An enterprise must continuously create new products and send them out into the world, so that society can evolve and develop in the right direction. The discipline of business administration defines the principles and methodologies of corporate behavior, and provides enterprises with the guiding principles for the betterment of the society’s evolution and development.
An enterprise is not an existence that merely makes products and sends them out into the world, but one that ought to employ and educate people as well as coexist everlastingly with its customers, business partners, and the local community. As such, the truth is that business administration as a discipline must have a tremendously wide scope, in order for it to be complete. Accordingly, it is not too much to say that business administration of the 21st century is the selfsame thing as the social sciences of the 21st century.
(Date published / 公開日： 5/12/2021)
(Date last updated / 最終改訂日: 5/26/2021)