Ideas I have learned from the chapters we have studied that I can use for my business or profession:
1. Corporations have social responsibilities to do what’s good for the society except making profit. Organizations like Corporate Responsibility Group provide network for sharing information and promoting good practice. It’s also each individual’s responsibility to try to do the right thing for the society.
2. Legal activities are not necessarily ethical. Even though child labor in a lot of countries like Indonesia and Malaysia is legal, it absolutely is not ethical.
3. Should companies practice business in other countries follow foreign law or US law? This is a popular ongoing debate. I guess the answer is it depends because there’s no standard answer for this question. My company has operations in over 40 countries. After studying chapter 2 about ethics, I am very interested in how my company practice business in different countries and which law it follows. I am going to find out more about it.
4. There’s a system for everything. Foundation of business management class teaches us different aspects of business practice. It is essential to understand marketing, ethics, accounting, or Be, quan analysis, finance, operations, economics and strategy before starting a business. What we are going to learn at the class will give us a general concept of how to start a business, operate a business profitably and legally, and how to generate customers and profit. I think it might be the most important class in the whole MBA course.
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