General writing and personal reflection

¶ … philosophy surrounding the topic of Ethics. Your beliefs, values, attitudes and expectations should be among the key points.

I believe that ethical obligations arise solely as a function of the respective rights and autonomy of other human beings and also as a function of the sensibilities of other living creatures. In the most general sense, we have an ethical responsibility that is very similar to the Hippocratic Oath that physicians swear: "to do no harm" to others in this world. Of course, in actual practice, defining ethical obligations is much more complicated simply because, like other philosophical issues, ethical questions are rarely black and white. Therefore, the more accurate formulation of the general principle to do no harm to others might have to be to do no unjustified harm to others.

With respect to out ethical obligation to other human beings, we have a duty to respect all of the same rights, privileges, and privacies that we would wish to have others respect of ours. The so-called "Golden Rule" sets forth exactly that concept: to treat others as we wish to be treated by others. That relatively simple idea has applications in every conceivable aspect of life. It requires us to deal with other people honestly and fairly in both business and personal affairs; it requires us to be considerate to neighbors and to strangers; and it requires us to be as compassionate and benevolent as reasonably possible to other living beings in every way that we interact with and affect them.

In many respects, abiding by the law is a large part of our ethical duties but abiding by the law does not always necessarily correspond to ethics: in some situations, the law allows conduct that is decidedly unethical; in other instances, the law prohibits that which would not necessarily be unethical. The fact that formal law does not necessarily determine what is ethical is further illustrated by the existence of very different laws in different cultures and contemporary societies. Meanwhile, ethics, unlike formal law, is an objective concept that does not depend on legislation.

In business, ethical practice means following the spirit of applicable laws as well as the letter of law. While it may be perfectly legal to exploit so-called "loopholes" in existing law, it is unethical to do so when one realizes that those loopholes are unintentional and that the conduct that is contemplated violates the intent of applicable rules even if it is technically permissible. In that respect, ethics represents a much higher duty than mere legal compliance because it requires avoiding certain types of behavior even though they are not prohibited. Examples of that difference exist all around us in everyday life. A person selling a used car is prohibited by law from actually stating objective facts about the car that he knows to be untrue: he may not legally state that the car has no known mechanical problems if his mechanic just told him that the car's engine is on its last legs. However, there is no law that requires him to offer that information if the prospective buyer does not ask about the engine. Regardless of what the law says, the ethical duty of honesty and the golden rule prohibit him from failing to disclose any information about the car that he would want to know if he were in the same position as the buyer. Ethics also applies to human relationships. For example, no law prohibits a person from violating the clear rules or understandings of an intimate relationship between unmarried couples. Yet ethics precludes doing so.

Finally, ethics also requires that we be as compassionate as possible to non-human creatures simply because they have the same capacity as we do to suffer pain. Ethics does not require us to avoid eating meat, but it does obligate us to raise and slaughter the animals we eat as humanely as possible.

2) Explain the differences between a strategic plan and a business plan. What is the approach you would take in each type of planning process?

A strategic plan is a course of action, or a set of actions, whose purpose is to allow an entity to achieve a specific objective or set of objectives. A strategic plan can apply to virtually any type of endeavor: it can be a plan to secure election to political office; it can be a plan to achieve economic success; it can be a plan to acquire an education or professional credential; and it can be a plan to meet a life partner. In principle, a strategic plan is an outline of individual actions that must be completed in order to achieve a desired outcome in any context.

In business, a strategic plan generally consists of concrete steps that include the following: (1) identification of long-term strategic goals; (2) identification of intermediate goals; (3) identification of short-term goals; (4) consideration of various approaches to achieving each of those different types of goals; (5) selection of the best conceivable approach for achieving each of those goals from the range of all possible approaches identified; (6) evaluation and assessment of the relative success of each approach after its initial implementation; (7) the implementation of any changes identified as being necessary during the pursuit of short-range, medium-range, and long-range goals.

In an ongoing business concern, strategic planning would also include a process of retrospective review to allow the entity or organization to determine, after the fact, whether its approach to achieving its stated goals were the best possible choice. The long-term strategic goal would, therefore, also provide a means of evaluating the strengths and weaknesses of the original strategic plan so that it can be adjusted and improved in the future.

A business plan is a much more specific concept than a strategic plan, mainly because the former relates only to business enterprises and objectives whereas the latter might apply to virtually any concern, whether or not it has to do with business. Generally, a business plan must provide a means of calculating the various expenses of establishing a new business venture. That typically includes start-up costs such as property leases, insurance, licensing fees, equipment, materials, as well as the cost of hiring and training staff.

The business plan must provide technical detail sufficient to project the likely time period required for the new business to begin turning a profit and it must provide a reasonably reliable source of funding for its immediate needs in the interim between its opening and reaching the point of self-sufficiency and growth. In many cases, an initial business plan will require an outline of external funding in the forms of business loans that will allow the enterprise to meet its start-up costs and to operate initially. Therefore, the business plan must also incorporate detailed financial plans for repaying those loans in a manner that minimizes the cost of relying on financed credit as much as possible.

The business plan must account for elements such as the ability of the projected market anticipated to support the envisioned business. In addition to assessing the initial demand for the products and services of the business, the business plan must also consider the potential for business growth and it must account for any plateau or potential for market saturation after the initial introduction of the business. In essence, the business plan provides an empirical means of calculating whether or not a given business that is envisioned is likely to be profitable and successful within the given market and environment in which its founders hope it will operate.

3) How did you learn (gain) from this course? What did you like or not like about this course? How will you apply what you learned (gained) from this class? What should be changed/enhanced or preserved/retained? How can we improve?

One of the more important things I learned in this course is that it is necessary to approach any business venture logically and methodically and in accordance with established business management principles. I learned that it is possible for certain ideas for potential businesses to seem viable superficially but to reveal fundamental problems on a closer and more formal analysis. I will certainly apply that lesson throughout my career because I have no intention of ever starting a business venture that ultimately fails only because I neglected to conduct an appropriate study and research of all of the applicable factors and variables that were available prospectively.

Another lesson from the course was that both strategic planning and business planning are indispensable steps in the process of business venture formation and management. I learned that it is perfectly acceptable for a general vision to fuel a business plan but that before any such plan can be implemented and before any significant resources can be responsibly allocated to a given business vision, all of the relative risks and potential liabilities and worst possible case scenarios must be identified and anticipated in case they materialize. Sometimes, those risks will be manageable and will not necessarily preclude the entire concept. However, other times, a business vision that may seem to be a good idea initially will prove to be unwise once one conducts a more formal analysis of all of the relevant variables and considerations involved.

I learned how important it is to maintain effective communications across a broad spectrum of communications media. Today, a business person must be able to multi-task and to conduct and effectively integrate numerous different types of communications effectively and efficiently. In that respect, I also learned that there are specific issues, considerations, and potential complications associated with every different type of communications medium. Sometimes the technical element of the medium present issues that can undermine the efficiency of operations; other times, it is the interpersonal elements of specific types of communications media that introduce potential problems and complications. An example of the former would be technical issues that interfere with plans to conduct meetings in a virtual medium. We learned that it is inadvisable to rely on virtual media without at least some means of backing up communications in the event of problems with the technology. An example of the latter would be misunderstandings among and between team members that can be cause by the impersonal nature of email communications.

The most frustrating aspect of the course was precisely that it required us to collaborate in groups to complete every assignment. On one hand, I would have welcomed the opportunity to perform some of the work entirely independently because that is the educational format that I have relied on most to date. On the other hand, I also recognize that this was one of the main benefits of the course because in the real world of business, one cannot choose when to work independently and when to work as part of a team. In fact, in most contemporary business environments, we will usually be working as part of a team and as parts of business units. In that regard, the entire team is only as string as its weakest element and only as strong as the ability of if its individuals to communicate, plan, collaborate, and execute in a coordinated fashion. If possible, I would appreciate if such a course could at least provide an element of individual effort that allows every student an independent means of contributing in addition to the collaborative components.

4) At the time of your retirement what do you want to be remembered for doing as a person and as a professional. Be broad and creative in your ideas and notions. DO NOT state the obvious (good person, mother, father, husband, community leader, etc.) Think BIG yet realistic as to what you will offer the world.

To be perfectly honest, I am not quite sure how I will look back on my life at the time of my retirement, especially outside the context of all of the obvious considerations that are not part of this question. Currently, I am experiencing mixed emotions about certain foundational aspects of my life that I will have to resolve between now and my retirement and the manner in which I resolve them will likely have a lot to do with what kind of person I hope to be. For example, I have a certain attachment to the traditional beliefs and culture of my home country and my heritage but some of those traditions are incompatible with other concepts that I have learned to appreciate as objective concepts. In many respects, that conflict also raises issues in the sphere of ethics and morality.