Lesson Learned in International Business Ask Yourself,

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 the lesson and is personally applying it -- in thought and action.

The different lessons that are taught, is how executives must have a sense of vigilance about the impact of changes on their business. 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 inside a host of organizations. As they are forced to choose between: looking out for their own self-interests vs. those of the general public. Over the course of time, this has caused a number of firms to receive negative publicity from their actions (which will have an impact on the brand image of the organization). (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)

The way that this will be applied to my life, is to make choices that are supportive of everyone (effectively creating win -- win situations). When this happens, there will be a transformation is how different stakeholders are reaching out to one another on regular basis. This is the point that I can push for changes in the way everyone is interacting with other and the kinds of philosophy they are embracing. Once this occurs, is when there will be a transformation in how firms are operating and the different viewpoints that are being taken into account. (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)

Don't be a reporter. "We were in class, read the materials, and participated in class discussion." Ask yourself, what is the unique contribution that I am making in my synthesis and application of the materials?

The contribution that I am making is to understand the ethical challenges facing most firms and the impact of certain choices on stakeholders. In the future, this will help to prevent these kinds of situations. The way that this will occur is through seeing how these decisions changed the way firms were operating. Once this happens, is when these concepts can be used as background for avoiding certain kinds of activities that could be harmful to others. (Abedelal, 2003) (Fung, 2006) (Kennedy, 2003) (Spar, 2002)