Accounting and business education at Gwynedd Mercy University

Reflection
Introduction
My experiences at Gwynedd Mercy University were nothing but exceptional. The school learning environment is favorable for learning and the lecturers are knowledgeable about the units they teach. It was easy to tell that the genuine efforts were put into making the students polished business professionals in every area of study. To this end I have managed to take several accounting programs including Managerial Accounting, Business Law, Personal Finance, Principles of Management, Investment 1 and 2, Principles of Finance, Personal and Business Taxation, Principles of Accounting 1 and 2, and Intermediate 1 and 2. The teaching environment at the University is intensive student centered and beneficial. The lecturers were quite helpful in helping me to comprehend each of the subjects in every unit. The lessons were designed to ensure that every component of the lesson is fully taught. Emphasis was given to discipline in and outside class. Furthermore, the lecturers treasured personal interaction with the students. With the friendly learning environment learning and comprehension of each unit became possible.
Reflection
As an adult learner I have various other engagements outside class. Pursing education and working at the same time has always been a challenge that anyone must work very hard to overcome. Often times I found it very challenging to wake up early in the morning either to study of attend a morning lecture. Mornings have never been my favorite time of the day. This said though, all the programs I have attended this far were very comprehensive and professionally packaged to encourage learning and to make it easier for students to understand and succeed. The lecturers were not only determined to attend each class and evaluate the progress made but were also incredibly informed and knowledgeable about the units they taught. The lecturers were not limited to the course material. They offered us practical examples about how the business world works. I was thoroughly equipped about all the ethics, principles, standards, and practice of accounting, investment, taxation, and business. By the time I was done with the units I had an advanced understanding of how the system works, how taxation works, what accounting is, the laws that govern and moderate business, and the ethics and principles of business.
The program was by all means enlightening. The lecturers gave us a whole new perspective of how things work. I was equipped not just to be a good fit in the corporate work but to be a seasoned business person with incredible investment, accounting, taxation, and business law skills. My route to becoming a valuable asset and a professional business mind is on track. The coursework was designed with an objective of equipping the student and making me a prudent accounting, business management, and taxation mind. Sufficing to say, the student fraternity was also fundamental to making my success in the program possible. The discussion groups, the insights gained from sharing thoughts, and the invaluable resource that came with interacting with fellow students made it a lot easier to comprehend concepts and better understand each subject in a unit. The school resources like the library, internet, study areas, and the ambience were all favorable for learning and excelling.
Business Knowledge and Skills
On business skills and knowledge the curriculum was designed to make sure that the student is equipped with enough skills, knowledge, understanding, and comprehension of the modern day business environment. The coursework was not just a routine fulfillment of the course requirement but a genuine effort from the lecturer to inculcate business acumen into the student. The goal of the coursework was to make me prudent, meticulous, and proactive in making the appropriate decisions in business. For instance, now I know the value of making the right assessments prior to arriving at a business decision. It is important for me now to gather all facts and every piece of consequential information likely to have an impact on the business. As an informed business person it is very important for me not to miss any fundamental information. This is because every piece of information has the potential to mean the difference on the trajectory that a business takes. Now I know that business facts are invaluable tools just like financial capital, technical abilities, and manpower are. Gathering and assessing facts makes it possible to eliminate any biases or misconstrued opinions held by other people.
In the course of completing my program I have learned that a prudent investor has to evaluate the business environment critically. It is important to understand the competition and what the competitor is up to. I also know that customer satisfaction, branding, and packaging are fundamental. It is clear to me now that the customer is the most important person in business. It is important to be always focused on ways and avenues of improving the satisfaction levels of the customer. In order to retain the existing customers and expand my reach in business I have to satisfy a need that other competitors are not able to. Furthermore, I have learned that principled business management is invaluable. The productivity of the human resources is anchored largely on the working environment. The way the organization treats the employees is impactful on their productivity. A business has the opportunity to increase productivity and alleviate high staff turnover by simply employing an open communication policy, and a transformative style of leadership. It is quite clear to me that there are fundamental business decisions that a business has to make in order to thrive in the industry.
Ethical and Moral Decision Making
Since taking this program I have learned a lot about moral and ethical decision making in business. To begin with I now know that some businesses thrive on indiscipline. Some of the business institutions will file doctored tax returns. Others will use information inappropriately with the objective of harming their competition. Others will lie about their products in order to increase sales. Some business people and organizations have mastered the art of lying in order to achieve selfish gains. The net effect of imprudence, unethical and immoral business decisions is failure. Workplace scandals are not uncommon in the business environment. In order to foster a favorable atmosphere for ethical business behavior it is important to establish clear standards of operation including the standards and ethics code. The employees, managers, and executives in business should be trained to become ethical. Confidential reporting and advice on the expected ethical conduct should be available for every player in business.
I now know that prudent business managers seek to foster an ethical and moral organization. It is fundamental to create ethical climate in the organization because it helps to address and solve other issues bedeviling the organization. Morality differentiates intention, actions, and decisions of those that have the best decisions and those who have evil intentions. Ethics entails the systemized concepts that define correct or wrongful conduct. In business ethics entails the moral beliefs and principles that inform decisions by the management. The underlying ethical issues entail the obligations that the company has on its suppliers, competitors, customers, and employees. Business ethics determine when a situation is not in keeping with the strategic or economic choices or when the situation is conflicting. I now know that an ethical obligation is not necessarily equivalent to a legal obligation. The law entails consequences or punishment for wrongdoing from the government. It is the duty of any business person or organization to comply with the law. Ascribing and living by defined ethical standards if voluntary for the business and there is no coercion.
Ethics in business applied to any conduct in business from the organization or individuals in their collective capacity. Ethical behavior entails actions that align with the personal beliefs or the shared institutional values. When a person takes an action on the behalf of their organization, they are in fact representing the ethics of the organization to the society. This would mean that the misdeeds of one employee are taken to mean that the entire organization is unethical and immoral. It is therefore fundamental that the business is consistent and clear on the expectations it has on its employees regarding the ethical standards that govern employee behavior. It is also important for a person to evaluate the moral beliefs held by an organization before choosing to work for the organization. The ethical practices of an organization can influence the retention and recruitment of employees because employees prefer working for institutions that have shared moral beliefs as their own.
In recent times more focus has been given to the ethics of business owing to the growing cases involving corporate misconduct. In order to protect the reputation of the company organizations have begun to formulate and implement principles relating to business ethics. The policies guide the employees through clear behavior expectations. The clear business principles offer clear guidance on what is allowable and what is unacceptable practice in business. It is the obligation of the business to ensure it adheres to the strict principles of management with respect to creating an appealing perspective about the business to the employees, customers, stakeholders, and the community.
On the decision making support tools for businesses the program has equipped me with incredible knowledge of the value of conducting comprehensive analysis and employing technological tools to make an impact in the society. Some business decisions are routine and do not require critical analysis. Some are however complex and require informed choices that have to be made under more considerations. The difficult decision may involve uncertainties such as when some of the facts concerning business are unclear. Other decisions are complex and require various considerations. Other decisions are high risk and the consequences of the decision made may have sizeable significance. Some decisions involve interpersonal issues that require analysis of the reactions of various people. Some decisions have many alternatives each of which has its own merits, consequences, and uncertainties. I now know that making complex decisions requires consideration of complex issues and employment of advanced problem solving skills.
Some of the decision making tools include market research, cost benefit analysis in order to determine the return on investment, SWOT analysis to identify the strengths weaknesses, opportunities, and threats, feasibility studies, and quantitative analysis. The business decision making support tools will assist in assessing the viability, profitability, achievability, and other benefits to the business. A feasibility study for instance will assess whether a project is achievable and whether it will make profits for the business. The feasibility analysis can assist during the planning stage of a project in order to make an informed decision as to whether to or not to pursue a given opportunity. Quantitative analysis deals with the analysis of statistical facts prior to making a business decision. It is important to employ a robust and effective process in decision making. This will help enhance the effectiveness of the decisions made and assist in the achievement of good outcomes consistently. It is also important to employ both decision making and problem solving strategies in finding solutions to complex situations.
In conclusion I can confidently say that the program has taught me a lot on all business aspects including application of accounting principles, taxation laws, how to file tax returns, and planning for taxation. I also learned the value of information in business, how to seek for information, evaluate the relevance of that information to business, and apply the relevant bits of information in business. The public lecturers on business, the internship opportunities, business clubs, and general interactions with other groups such as entrepreneurship and business groups have expanded my business proficiencies. The world of business will benefit more from the kind of efforts that Gwynedd Mercy University is putting into inculcating business proficiency into the student fraternity.


Reference
Gwynedd Mercy University (2015). Partnership for Success. Retrieved 19 March, 2019 from https://accelerated.gmercyu.edu/programs-2