Alumnus Dave Elkington shares how humanities students are needed in the business world.
Humanities majors don’t usually think about going into business after graduation. They understand the human experience, and most people don’t think business improves humanity. However, alumnus Dave Elkington (Philosophy) broke down this limiting perspective by describing how badly humanities majors are needed in the business world during his Honored Alumni Lecture on October 13, 2022.
Elkington shared how he thinks that Western society is broken; monopolistic behavior has led to a drought of innovation in business. Business majors try to solve problems they think people have without truly understanding people and the human condition. They then market these solutions as products and services. Conversely, humanities majors understand the human experience and are equipped with the knowledge to solve human problems in creative ways. If more humanities majors participated in business, he said, then there would be more innovation and competition, leading to better businesses with more effective products and services.
“I know many of you in this room think business is a sellout. It’s not. In fact, it is your responsibility to get involved in innovation and business,” Elkington said. He then described two of his business ventures that support his claim. The first was a product that helped sales teams determine which customers were likely to buy their product. The company ended up being valued at $100 million after 15 years.
The second business venture provided COVID-19 tests to users; that company grew to $3 billion in sales after two years. “What’s the difference between the two companies?” Elkington asked the audience. The audience shared a variety of answers that influenced the growth of both companies, but ultimately Elkington said that the second company solved a human problem, while the first simply provided a service. People will only flock to and buy solutions that fix real needs in their lives.
“The problem we were solving was the problem of human connection [or people wanting to spend time with each other]. And what’s the demand for human connection in the world? Pretty big actually,” Elkington said. He went on to describe connectivity as a foundational human need, whereas his other business ventures involved neat—but far less compelling— ideas.
Humanities students are well-prepared to identify foundational problems in society because they understand humans needs, both physical and emotional. These students also think about human history. Human problems are cyclical, often repeating over time. The students who understand the problems of the past know the solutions that will be relevant in the future.
In concluding, Elkington cautioned, “Humanities [students] often get stuck in appreciation over application.” Discussing the problems of the world won’t solve them. Going out and working to fix those problems will. Elkington suggested we look to those who have already proved the need for humanities thinkers in business. One-third of Fortune 500 CEOs are humanities majors. These include the founders of HBO, Starbucks, Chipotle, and Disney. Elkington said the only way out of the Western world’s current innovation drought is for humanities majors to get involved in business. To those who expressed fear at being an outsider, he said, “Act like you belong in business, because you do!”