The Business Economist from Rotterdam
The economy of today requires a very ethical approach of issues such as sustainability and growth. The economy is not only about making money and providing insights into risks, but it is all about the people in a society. These ideas are not new, but their importance is growing clearer and clearer.
That activities of EIBE are enacted in a field of business economics. Traditionally, business economics consists of four main aspects, called Accounting, Finance, Marketing and Organisation. Two other aspects are also important, which influence the four main aspects. These are data, information and knowledge management on one hand and ethics and leadership on the other hand. These days, there is more data available and analyzable than ever before. This requires an integral, fundamental approach. Moreover, the business economist doesn’t need to be disconnected from norms and values. Because business acts are human acts, the question about ‘good and evil’ will be asked and needs to be answered. The development of a moral compass is essential for making the right business decisions. The right application and combination of these six aspects provides the added value of the business economist in organisations.
The modern business economist should explore the value and cohesion of these elements, so his management will be informed, there is representation of several simultaneously pursued interests and he aspires a sustainable economy which delivers maximum welfare for the society.
The view of mankind that the business economist uses is important to determine the goals, means and application methods. The view of mankind of the ‘homo economicus’ has analytic and inspiring value for the economics and the economic models used until now, but it is a fairly scant image. A new view of mankind, the ‘homo dignus’, presents a good alternative. This perspective views people as worthy, but limited. It does not lose the core of economics, but provides more variety in determining goals, means and application methods. Moreover, the view of mankind as a steward can be valuable. This view can help leaders to think further than monetary maximisation. In that case, adaptability and satisfaction are important features.
The Modern Business Economist from Rotterdam develops himself by controlling the original ‘clover-four’ plus the two other elements. The comprehensive handling of those six elements constitutes a renewal which is necessary because of the developments in humanity, society and economics. In practice the business economist on the labour market will be encouraged to specialize in his first years and will therefore be assigned to narrowly oriented tasks. However, holistic thinking will be more important when the business economist grows into more responsible and managerial positions. Overspecialization is then not valuable anymore. The business economist provides added value in practice by integrating the four elements of business economics with the elements of ethics and data, information and knowledge management.
Business economics is a unique branch of science and is comparable with Economics in general and Business Administration.