Scholarship Essay

Topics: Economics, Term, Profit Pages: 2 (618 words) Published: June 8, 2010
NDSU College of Business Scholarship Essay
The Guiding Principle
The word business carries unfavorable connotations in today’s world. With the economy in its current state people are looking for answers, answers they rightfully deserve. Business is an integral part of society, and as we move further into globalization we find that the world’s people are becoming increasingly dependent on one another. Business activities have sociopolitical implications and vice-a-versa. This being true, good business is supposed to foster progression, to offer something in return for profits. This has not been the case in recent years; scandals, tax cheating, dishonest financial reporting, greed, and all around irresponsible business for the purpose of a fatter bottom line has brought us to the state we’re in. A crucial part of business is trust and as reflected in our economy, much trust has yet to be restored in the wake of damage. I believe that to move forward, trust, among other things, has to be re-established. The way business is done has to be changed and my guiding principle of integrity is what I offer as I enter the business world as a different business professional.

There are many views on what constitutes good business. From free market purists who believe the only corporate responsibility is to maximize shareholder profit to the environmentally conscious who believe business should operate with minimal impact to sustain our environment. What is certain in any case of good business is longevity. Anybody can open a business, staying in business is the challenge. Short-run profit maximization policies and decisions, along with increases in unethical business behavior, are not sustainable and they jeopardize the trust of the very people you rely on for successful business. The citizen-consumer demanding answers has every right to seek change and accountability. The key to cultivating longevity and good business then, is to restore the trust lost...
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