Reaction Paper on Magisterial Lectures by Dr. Oscar Bulaong:
The False Dichotomy of Making Money vs. Doing Good to Society
Guide Questions:
What is your reaction to his lecture?
Would you agree that making money is not necessarily bad?
In concrete, how can we make a difference to others, especially to the less advantaged
of our society? Does Ethics matter in business?
The lecture video by Dr. Bulaong broke the ice on the topic: Making Money or Doing Good.
This false dichotomy often associates itself with the notion that making decent money will
never equate to doing good in society. My initial reaction is that, as an Atenean, the business
field should always allow all stakeholder to grow, benefit, and form good traits through the
profit gained from business operations. As a marketing management student, I would agree
that making money is not necessarily bad. Rather, it is the manner of how we use the money.
We can either use it for the benefit of the shareholders (business owners) with the motivation
of greed and corruption or use the money to benefit the well-being of stakeholders
(employees, suppliers, society, consumers, etc.) with the motivation of being the agent of
change and goodness for a better, progressive, and harmonious society.
The talk further discussed the importance of the three pillars of a good business. A business
must have good goods and services that caters to the needs of the consumers with a
continuous design for product and services improvement, good work that improves, forms,
and hones the skill and intelligence of the workers, and pays importance to good well-being
that increases the well-being of all stakeholders that are affected by each business decision
that a company may make or perform.
Money is never the end goal of a good business. The main objective of every business is to be
an avenue of excellence that overflows with goods in order for all people in our society can
benefit from.
The False Dichotomy of Making Money vs. Doing Good to Society
Guide Questions:
What is your reaction to his lecture?
Would you agree that making money is not necessarily bad?
In concrete, how can we make a difference to others, especially to the less advantaged
of our society? Does Ethics matter in business?
The lecture video by Dr. Bulaong broke the ice on the topic: Making Money or Doing Good.
This false dichotomy often associates itself with the notion that making decent money will
never equate to doing good in society. My initial reaction is that, as an Atenean, the business
field should always allow all stakeholder to grow, benefit, and form good traits through the
profit gained from business operations. As a marketing management student, I would agree
that making money is not necessarily bad. Rather, it is the manner of how we use the money.
We can either use it for the benefit of the shareholders (business owners) with the motivation
of greed and corruption or use the money to benefit the well-being of stakeholders
(employees, suppliers, society, consumers, etc.) with the motivation of being the agent of
change and goodness for a better, progressive, and harmonious society.
The talk further discussed the importance of the three pillars of a good business. A business
must have good goods and services that caters to the needs of the consumers with a
continuous design for product and services improvement, good work that improves, forms,
and hones the skill and intelligence of the workers, and pays importance to good well-being
that increases the well-being of all stakeholders that are affected by each business decision
that a company may make or perform.
Money is never the end goal of a good business. The main objective of every business is to be
an avenue of excellence that overflows with goods in order for all people in our society can
benefit from.
