Lesson Learned in International Business
Ask yourself, what value added am I adding, producing above and beyond what was discussed in class?
The way that I am adding value above what is covered in class is through taking the ideas that were presented and using them in the real world on a practical basis. Too often, many business executives will become involved in transactions that will lead to conflicts of interest. In some cases, this is from the desire to lower costs (which will have an impact on a firm's labor practices). While at other times, these issues will take place because of changes in the company's business model. In every case, executives used these actions to engage in activities that will support their own self-interests. Moreover, they are ignoring the long-term impact of their actions on different stakeholders. (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)
This is problematic, because these kinds of abuses will often result in ethical challenges that will have adverse effects on the general public. The ideas that I learned in this class will give me the foresight to see the how this will impact different parties that I am working with. It is at this point that I can engage in actions that will be supportive of the different stakeholders inside the community. (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)
Try not to report your lessons as an objective third party bystander but as someone who has internalized...
This is when they must understand how it will influence their actions and everyone that is associated with the firm. As a result, these internalized lessons will help me to use them as a foundation in understanding the negative impact of these changes without constant vigilance. Once this happens, is when I will be more responsive to needs of different stakeholders during the process. This is when these ideas can be used to help make the firm more responsive to needs of various parties vs. select groups. (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)
Ask yourself, based upon the concepts that I have learned, how can I apply these to better understand some part of my organization or some aspect of my life.
The different concepts that I have learned taught me that I need to have a higher amount of
ethical practices on a regular basis. This is because the cases were showing the impact of
greed and these related activities on stakeholders. In general, this has been having an effect on select groups inside the organization. Once this takes place, is when they will be able to receive unfair advantages from the use of these strategies. (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)
To prevent this from happening, I will apply a higher degree of ethical
philosophy in my dealings with different parties. This will allow me to avoid the conflicts that are often occurring…
