Question One
In the course introduction, I learned about an interdependent system in the modern world consisting of business, society, and government. From information gathered from the course readings, it was theoretically evident that the three parts were highly mutually dependent on each other. Moreover, undertaking different journaling activities in the modules influenced my awareness and understanding of the interrelationship between business and society by reflecting on the real-life case of their interconnection.
In my view, this course’s journaling activities influenced my awareness and understanding of the interrelationship between business and society by helping me reflect on real-life situations. For example, in module 1, I journaled on the real-life influence that business and society have on each other. Notably, I focused on the effect that societal force had on giant corporations such as Nike. After the community criticized Nike for its involvement in employing underage workers in its overseas manufacturing plants, the firm bowed to the pressure and promised to root them out and require its manufacturers to meet the U.S. health and safety standards (Cushman, 1998). This activity influenced my awareness that businesses are highly dependent on society for success, which explains Nike’s reaction to the former’s criticism.
Similarly, in module 2, I had the opportunity to journal about the interdependence between business and society from an ethics lens. While journaling, I reflected on the degree to which societal ethics impacted businesses. From this activity, it was evident that companies that failed to adhere to society’s virtues were likely to fail. For example, in one of my activities, I came across a fascinating story about a gold scam in Indonesia involving Bre-X (Ro, 2012). While reflecting on this story, it is evident that one of the primary reasons for the company’s failure was its deep root in deception about the availability of gold in Borneo. This activity ascertained that society and business are highly interrelated; thus, explaining why a firm such as Bre-X would collapse for failure to abide by societal ethics of transparency and honesty.
Moreover, journaling activities in module 3 influenced my awareness of the interrelationship between society and business from an international lens. While undertaking my activities, I realized that transnational companies such as Coca-Cola relate significantly to the cultures in which they exist because they indulge in social responsibilities to support these communities. For example, in fulfillment of India’s relief efforts, Coca-Cola committed INR 100 crores towards helping the country’s healthcare system and communities combat the COVID-19 crisis (Staff, 2020). This activity influenced my understanding of the solid interrelationship between business and society. Notably, companies relate to culture by undertaking actions to support the latter’s well-being and enhance its chances of survival due to the reciprocity shown by such communities.
In essence, this course’s activities influenced my awareness of business and society’s interrelationship by enabling me to reflect on real-life cases. These activities enhanced my understanding of the significant impact that society’s ethics and influence have on business success. The activities also enhanced my awareness that businesses support the communities in which they operate because of their high dependency on these societies for long-term success.
Question Two
Conflict or confluence of stakeholder needs, wants, expectations, and perspective is a situation where all stakeholders’ interests cannot be met at once. Based on the course activities, it is evident that dealing with the stakeholder confluence of interests is challenging because of the diversity in cultures, societies, and economies across the globe. Unfortunately, businesses that fail to or improperly address the stakeholder interests may also suffer several ramifications such as reduced sales, bad corporate reputation, and reduced profits.
As mentioned, dealing with stakeholders’ confluence of needs, wants, expectations, and perspectives is challenging because of the existing diversity in societies and economies. For example, in one of my activities in module 1, I explored the challenges that governments face while trying to deal with the confluence of stakeholders’ interest in the biotechnology industry. From a government’s perspective, it is its mandate to maintain a balance between business success and the citizens’ welfare when it comes to research and sale of biotechnology products in the market. Unfortunately, dealing with the needs, wants, expectations, and perspectives of all stakeholders can be difficult because of societal and economic diversity. For example, on the one hand, businesses may be more inclined to seamless operations and profit maximization. Thus, they may expect government policies to be lenient to allow smooth operations. On the other hand, members of society may expect the government to control the biotech’s operations and ensure the safety of products that enter the market. Therefore, from a government’s perspective, dealing with stakeholder’s confluence of interest may be a significant challenge because of economic and societal diversity.
Unfortunately, ignoring or improperly addressing stakeholder interests can be detrimental to a firm’s operations. Speaking from a business perspective, failure to address stakeholder interests can create a bad corporate image. For example, while reflecting on my journaling activities, it is evident that if firms such as Nike had failed to root out the underage employees in their manufacturing plants, the company’s reputation among members of the public would have worsened. Moreover, ignoring stakeholder interest may translate to reduced sales and profits because society may not be willing to transact with firms that do not consider their needs and wants.
In summary, dealing with a confluence of stakeholder interest is challenging because of the diversity in economies and societies worldwide. Unfortunately, speaking from a business perspective, failure to address these interests can lead to a bad corporate reputation. Moreover, addressing stakeholders’ interests improperly can lead to reduced sales and profitability in the long-run.
Question Three
As learned in module 1, the circle or sphere of reflection is a useful tool for reflecting on the impact of different forces that influence businesses, governments, and individual stakeholders. The course readings also emphasized that a circle of reflection can be narrow sometimes and broader at other times. While reflecting on my activities in this course, I realize that the circle of reflection affected my analysis by helping me reflect and comment on various situations and issues from a broader perspective than I would have done before.
In my view, using a circle of reflection can affect my perspective by eliciting me to take a broader rather than narrow view of a situation or issue, as was the case in this course analysis. For example, in one of my activities, I analyzed the impact of the Bihar floods in India in 2019. Using a circle of reflection, I examined the effect that the floods had on communities living in the affected regions. It was evident that these floods destroyed community lives and infrastructure. However, the tool also elicited my concern about the impact of the floods on government and businesses. Notably, the government was significantly impacted because it had to finance the damaged infrastructure’s reconstruction and spend resources on evacuating people from the affected areas. On the other hand, the floods affected some businesses because entrepreneurs could not transport goods and services in and out of the affected areas. Fundamentally, this activity influenced my view of the circle of reflection’s ability to help me analyze the impact of real-life occurrences from a broader rather than a narrow perspective.
Part B: Forces and Influences
Question One
Ethics and social responsibility are some of the highly studied concepts in the business field concerning their impact on business success. Scholars describe ethics as the rules that determine whether a behavior is right or wrong and social responsibility as a voluntary activity where firms integrate environmental and social concerns into their operations and interactions with stakeholders (Sroka & Szanto, 2018). While the two concepts are distinct, it is evident from the course readings and journaling activities in the four modules that they are influenced and influence internal and external forces such as globalization, technology, and economics.
A reflection of module 3 activities and readings cements the idea that ethics and social responsibility influence and are influenced by globalization, technology, and economics. To elaborate, in one of the journaling activities, I explored the activities in Dow Chemical and the manner in which ethics and social responsibility influence its practices. Technology plays a critical part in the successful manufacturing of chemicals and agricultural products in the company. However, this technology also puts Dow Chemical in the spotlight as a significant environmental polluter. As a result, since 1986, the company established a Waste Reduction Always Pays (WRAP) program, which unifies Dow Chemical’s waste reduction programs and facilitates the success in decreasing or eliminating waste and saving money simultaneously (“Dow sustainability pioneer,” n.d.). While reflecting on this activity, it is evident that technology and its adversities are among the factors that influence Dow Chemicals to adopt environmental ethics.
Similarly, a reflection on this course’s activities suggests that economics is a significant force that influences ethics and social responsibility in the business environment. For example, in one of my journaling activities, I explored the varying degree of promotion of sustainable development, ethics, and social responsibility in economically developed countries and their counterparts. From my analysis, it was evident that less developed economies are more concerned about their humankind’s short-term survival. Therefore, it is unlikely for firms in less developed countries to indulge in business ethics than developed nations. To illustrate, Pakistan ranks among the least economically stable countries despite its richness in natural resources. Given the country’s status, a majority of companies operating in Pakistan are less involved in business ethics which is exemplified by the high involvement of firms in child labor. Unfortunately, the Pakistani government has not adequately enforced national policies that govern child labor for a while now. The issue also appears to be the least of concern to consumers in the country.
Conversely, while exploring developed countries in the journaling activities, I realized that their governments are vigilant about business ethics. This aspect is exemplified by governments such as Canada, which have well-established regulations prohibiting underage children’s employment in the commercial industry. While reflecting on this activity, it is clear that the lack of business ethics in less developed countries such as Pakistan is deep-rooted in economic challenges (“Global business ethics,” 2010). This example substantiates the idea that economics is a significant external factor that influences ethics. Arguably, economic prosperity affects business and environmental ethics while economic challenges undermine ethics.
In addition to economics and technology, it is evident from my journaling activities that globalization is a considerable external force that influences ethics and social responsibility. Notably, as firms expand their operations in other countries, they may be compelled to adopt certain business ethics and social responsibilities. For example, in one of my journaling activities, I explored the variation in ethics between countries like China and Canada. While both countries are doing well economically, it is evident that the ethics found in one state varies significantly from the other. For example, Canadians consider employing underaged children as ethically wrong, while some parts of China still use minors as part of their labor force. Therefore, suppose a Chinese company expanded its operations in Canada, it would be compelled to adopt the existing business ethics for its survival and compliance with the national regulations. From this activity, it is evident that globalization is among the factors that influence the adoption of ethics among multinational businesses.
Question Two
Workplace ethics and corporate social responsibility (CSR) are among the core pillars of business success. Arguably, firms that indulge in CSR and promote a culture of ethics are likely to thrive in the business environment than their counterparts. While reflecting on readings and journaling activities in this course, it is evident that they changed my perspective about the need for prescriptive workplace ethics and the changing state of CSR. However, despite this change in attitude, I still consider CSR necessary in business and society because it enhances society’s well-being, builds a brand image, and boosts employees’ morale, leading to improved workplace productivity.
In my view, this course’s readings influenced and changed my perspective about the ideal nature of workplace ethics. Before taking the course, I believed that prescriptive workplace ethics were the most appropriate for building an organization’s ethical culture. As defined by scholars, prescriptive or ‘normative’ ethics are rules that describe what practitioners should or should not do, while descriptive ethics tell what professionals do (Voskuijl & Evers, 2006). On the one hand, the course readings enhanced my understanding of prescriptive workplace ethics’ rigidity because they compel employees to comply with the set rules regardless of whether the latter has the required moral principles. On the other hand, descriptive ethics encourage employees to apply integrity at work rather than merely adhering to the rules. After comparing the two types of ethics, I shifted my perspective to descriptive workplace ethics because they are flexible and allows management and employees to act with integrity, notably in the dynamic business environment.
Besides changing my perspective about the idealness of descriptive workplace ethics, the course readings and journaling activities also influenced my view of CSR’s changing nature. Before taking this course, I believed that CSR is merely a voluntary activity that firms integrate into their operations to build their corporate image, drive up sales and profits. However, after reviewing the course readings, it was evident that CSR, notably environmental CSR, is slowly becoming a mandatory practice in some regions. For example, some governments require firms operating in their country to observe a specific limit of carbon emission to reduce their environmental damages. While firms do not need to indulge in CSR, such practices in the modern world suggest that environmental CSR may be a requirement rather than a voluntary practice with time.
Moreover, readings in module 3 changed my perspective about CSR’s evolving nature, from a practice integrated into a firm’s strategic plan to a service that can be traded across companies. Initially, I believed that for stakeholders to consider a firm socially responsible, it must be involved in the actual practice such as charitable work and environmental protection. However, this perspective changed after realizing that carbon emission permits can be traded in a virtual market exchange, enabling firms to claim their carbon neutrality despite generating high carbon levels in the environment. Firms that emit carbon below the set limits can sell their carbon-neutral certifications to entities that cannot reach this target because of the nature of their activities or are unwilling to reduce their carbon emission. Therefore, while some firms are involved in practices that target climate change solutions, others claim carbon neutrality with the mere intent of gaining the label of corporate environmental performance.
Despite my change in perspective about CSR’s changing nature, I still consider the practice necessary in today’s business and society because of its attributed benefits. As the literature suggests, CSR helps firms reduce employee turnover by exhibiting fairness, increasing customer satisfaction by meeting their justice needs, and creating an avenue for a firm to increase its overall reputation (Galbreath, 2009). From a societal lens, CSR is important because it enhances communities’ welfare by ensuring firms work to offset their activities’ adversities and raise the living standards of the society in which they operate.
Question Three
As learned from the course readings, external forces are factors outside an entity beyond its control. These factors may include technology, globalization, and economics. On the other hand, internal influences affect business success, and the latter has some control over them. According to the readings, internal influences include consumer protection, CSR, workplace diversity, and employee rights. After reflecting on my journaling activities and module readings, it is evident that the highlighted external forces stimulate businesses and society to pursue and enhance their internal factors.
Based on analysis of the course readings, it is evident that external forces such as technology influence businesses, government, and society to embrace consumer protection. The growth in technology introduces new threats to consumers, which compels stakeholders such as the government to establish consumer protection policies. For example, during my journaling activity in module 3, I discovered that consumer protection policies with regards to e-commerce have grown significantly over the years. After further analysis, it became clear that this growth is mainly driven by technological advancements that bring numerous threats to consumer data. With the increase in online trade, e-commerce enterprises require consumers to submit critical information on their websites to facilitate effective transactions and goods delivery. For this reason, governments establish policies to ensure that consumer information is only used for the right reasons. Moreover, businesses also develop consumer protection policies to reassure their clients that any data submitted to their website is used solely for trade purposes.
Moreover, an analysis of the course readings suggests that globalization is a significant trigger of workplace diversity and the establishment of employee rights in contemporary society. As averred by diversity @work (2003a), globalization necessitates firms to collaborate with people in different countries wherein cultural variations require firms to manage diversity among customers, employees, contractors, and managers. Globalization enables firms to expand their operations in other countries and maximize profits by tapping into the host nation’s unexploited potential. Globalization also drives companies to embrace and manage workplace diversity as they seek to fill job positions with individuals from diverse cultural backgrounds. It is also worth noting that as firms undergo international expansion, they may rely on expatriates to fill managerial positions in their distance subsidiary firms. Unfortunately, the workplace policies in foreign countries may conflict with those in the domestic country. Therefore, the variation in global workplace policies, triggered by globalization, compels governments and businesses to create employee rights and policies to govern their workers during their international mission.
In essence, external factors are significant triggers of adoption and enhancement of internal influences in business, government, and society. Notably, globalization triggers firms and governments to develop employee protection rights to govern workers in their international missions. Globalization also forces businesses to practice workplace diversity management as they employ workers from different cultural orientations. Technology is also a considerable external force that influences governments and enterprises to develop consumer protection policies to safeguard consumers’ information and guarantee their data’s safety in e-commerce.
Question Four
In module 1, I learned about the interdependence between government, business, and society. Moreover, I learned about internal and external forces and stakeholders. Based on the analysis of knowledge acquired in this module, it is evident that government is a stakeholder rather than an internal and external force because it has an interest in businesses and societies in which it exercises its power. Moreover, information from the readings emphasizes that as a fulfillment of its stakeholder role, government indulges in regulating businesses, enhancing economic development, and protecting societal welfare.
Readings from module 1 suggest that one of the primary roles of government is the regulation of businesses. This role is achieved by establishing policies and rules that govern the manner in which companies run. In my journaling activity in module 1, I explored the manner in which the Canadian government regulates businesses within its jurisdiction and discovered a myriad of policies developed for various industries. For example, the government has well-established policies that control the manner in which biotechnology companies operate, including screening and experimentation of their products. This scenario exemplifies how the government plays its regulatory role in business and society.
Moreover, government plays a critical role in protecting its citizens’ welfare. For example, by controlling the manner in which biotechnology companies operate, the Canadian government also meets its objective of ensuring that the pharmaceutical products from these companies are safe for consumers. Therefore, besides controlling businesses, the government also guarantees that final products are safe for its citizens’ consumption.
The other role of government is the enhancement of economic development. This role is achieved through financial injections and incentives to boost business operations. For example, in one of my journaling activities, I discovered that the Canadian government had been involved in industry an economic development in the biotechnology sector for years. A few years ago, the government offered a $44.5 million grant to new researchers to boost industry research (Robin, 2003). This activity cements the idea that the government has a role in promoting economic and industrial development within its jurisdiction area.
PART C: Final Reflection
Question One
Among the concepts that I came across in modules 1 and 4 are stakeholder biases and their impact on business and society. Besides reviewing the course readings, I also indulged in journaling activities that helped me recognize the potential adverse implications of stakeholder and personal biases by reflecting on real-life scenarios. Moreover, my activities enhanced my view of how biases influence media coverage, influence public’s opinion on a matter affecting them, and eventually guide decision-making in business and society.
As mentioned, this course’s journaling activities helped me recognize the potential adverse impact of stakeholder and personal biases by reflecting on real-life scenarios. For example, by reflecting on one of module 4 activities, I realized the adversities of gender bias on equal development among women in society. An example of a real-life scenario that influenced my view is Knight’s experience in the credit sector. Despite Knight being a successful entrepreneur, a male banker requested her to obtain her husband’s support in co-signing for a credit line for a business she had cofounded (Oliver, 2003). This scenario exemplified the manner in which stakeholder bias against certain genders constrains the latter’s economic progress.
Moreover, the journaling activities helped me recognize how stakeholder biases shape media coverage, influences public opinion on real-life issues, and guides decision-making in business and society. For example, in one of the activities, I reflected on a scenario where stakeholder bias influenced advertisements aired by television networks. Notably, a television network refused to broadcast an ad for a California-based not-for-profit firm because its content conflicted with some of its largest advertisers’ practices. In turn, the media bias influenced public opinion, who allegedly criticized the company for being anti-American because its commercial targeted SUVs for being gas-guzzling. While reflecting on this case scenario, I realized that media networks are also stakeholders with a vested interest in profit maximization, which explains their bias in the content they choose to air. Moreover, this activity enhanced my view of media bias’s ripple effect, which influences public’s opinion and ultimate decision-making in business and society.
Question Two
In my view, every concept and theory in this course was significant because they relate to government, business, and society, inevitable areas in our everyday lives. Moreover, I found the course learning beneficial because it enlightened me on areas I lacked prior knowledge about, such as the circle of reflection, circle of influence, and stakeholder biases. While every concept was necessary, I found workplace ethics, diversity management, and CSR as the most important learning for me because they cover internal and external aspects that I may use in the future to facilitate my firm’s success.
As mentioned, workplace ethics was among the most significant learning for me because it covered an area that is likely to facilitate my firm’s success in the future. As noted in my reflection, I initially believed that prescriptive workplace ethics are useful because they dictate what employees should avoid doing in practice. However, readings and journaling activities changed my perspective and enlightened me about a descriptive option that allows employees to integrate integrity in decision-making. This information is significant because it shall help me select appropriate workplace ethics that match the dynamic business environment. In my view, being knowledgeable about descriptive workplace ethics will help me build a culture where employees exhibit moral principles at work rather than merely adhering to the company’s regulations.
Moreover, I found learning about CSR very significant, especially in the current highly-competitive business environment. In my view, learning about CSR enhanced my understanding of an alternative way in which I can facilitate a firm’s internal and external success. Notably, through CSR initiatives, I can easily promote employee satisfaction by enabling them to participate in initiatives that encourage communities’ welfare. High levels of satisfaction among employees would, in turn, translate to enhanced performance and productivity. Similarly, CSR would help my company build a positive reputation among members of the public by supporting and enhancing their living standards. In turn, public contentment with the firm’s CSR practices would translate into increased sales, revenues, and profits in the long-run. Therefore, learning about CSR was significant to me because it helped me discover a win-win strategy that I could use in my future firm to promote internal success while meeting the needs and desires of the society in which we operate
Lastly, I found diversity management learning to be very significant, notably in the current highly-globalized world. A firm can expand its operations in other countries today because of the reduced international bottlenecks. This expansion would also mean working with people from different countries who may have varying cultures, ethics, and values. Therefore, learning about diversity management was crucial for me because it enhanced my understanding of how to interact with a diverse workforce and streamline their differences for the company’s overall success.
References
“Global business ethics/international business” (2010). Lumen Learning. https://courses.lumenlearning.com/suny-internationalbusiness/chapter/reading-global-business-ethics/
Cushman, J.H. (1998, May 13). International business; Nike pledges to end child labor and apply U.S. rules abroad. The New York Times. https://www.nytimes.com/1998/05/13/business/international-business-nike-pledges-to-end-child-labor-and-apply-us-rules-abroad.html
Dow sustainability pioneer. (n.d.). Corporate.Dow.com. https://corporate.dow.com/en-us/about/company/history/environmental-stewardship.html
Galbreath, J. (2010). How does corporate social responsibility benefit firms? Evidence from Australia. European Business Review, 22(4), 411-431. https://www.researchgate.net/publication/247616095_How_does_corporate_social_responsibility_benefit_firms_Evidence_from_Australia
Global Diversity @ Work. (2003a). Diversity at work: The business case for equity. http://web.archive.org/web/20031018002356/http://www.diversityatwork.com/business_case_benefits.html
Oliver, L. (2003). What women want. Profit, 22(5)
Robin, R. (2003, September 2). Survival of the fittest. Canadian Business
Sroka, W., & Szanto, R. (2018). Corporate social responsibility and business ethics in controversial sectors: Analysis of research results. Journal of Entrepreneurship, Management and Innovation, 14(3), 111-126. https://doi.org/10.7341/20181435
Ro, S. (2012, July 1). BRE-X: Inside the $6 billion gold fraud that shocked the mining industry. Business Insider. https://www.businessinsider.com/bre-x-6-billion-gold-fraud-indonesia-2012-7?IR=T#michael-de-guzmana-filipino-geologist-was-struggling-to-get-recognition-from-his-employer-so-he-devised-a-plan-to-get-rich-1
Staff, J. (2020, April 28). Coca-Cola India pledges to positively impact over 10 lakh lives during COVID-19 outbreak. The Coca-Cola Company. https://www.coca-colaindia.com/newsroom/coca-cola-india-pledges-to-positively-impact-over-10-lakh-lives
Voskuijl, O., & Evers, A. (2006). Tensions between the Prescriptive and Descriptive Ethics of Psychologists. Journal of Business Ethics, 72(3), 279–291. https://doi.org/10.1007/s10551-006-9170-x
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