Professional Skills
University of Hull
Personal Learning Report
Module Title: professional skills and ethics
Module code: 56244
Module Leader: Dr Joanne Cook
Student ID: 201201558
Submission date: 10/12/2012
Word count:
Issues, Theories, and Practices Related to Responsible Businesses
Part A
A business is characterized by many factors which could build or destroy it. These are things that the organization should be keen on and work on them before they become a problem. Some could be unavoidable while others could be rectified with the correct expertise. For any successful business, there would be a number of problems and challenges that the business faces. This could be coming from different directions including the market, shareholders, employees, and even the management of the business. This includes the ability to change the rules of a business instantly. A business involves different people and aspects that keep it running. This would be the reason why a sudden change in the rules and ways of the business proves to be a problem. The people involved in the business also need to be involved in decision making hence disabling the ability to make instant changes on rules. This is an essential system for a healthy and competitive company.
For example, increasing the profit of stakeholders could be considered a social responsibility allocated to businesses. Stakeholders include customer, suppliers, business partners, governments, and employees will be involved in this strategy change. However, for the business to increase the profits of shareholders, they would need the support and cooperation of stakeholders. Companies are forced by regulations or the legal framework to assume a certain responsibility to stake holders. In this case, market regulation or specific company law could be considered as another challenge that business face. Such standards pull companies down especially in the sector of investing. They need to operate under rules and regulations of the law
Personal Learning Report
Module Title: professional skills and ethics
Module code: 56244
Module Leader: Dr Joanne Cook
Student ID: 201201558
Submission date: 10/12/2012
Word count:
Issues, Theories, and Practices Related to Responsible Businesses
Part A
A business is characterized by many factors which could build or destroy it. These are things that the organization should be keen on and work on them before they become a problem. Some could be unavoidable while others could be rectified with the correct expertise. For any successful business, there would be a number of problems and challenges that the business faces. This could be coming from different directions including the market, shareholders, employees, and even the management of the business. This includes the ability to change the rules of a business instantly. A business involves different people and aspects that keep it running. This would be the reason why a sudden change in the rules and ways of the business proves to be a problem. The people involved in the business also need to be involved in decision making hence disabling the ability to make instant changes on rules. This is an essential system for a healthy and competitive company.
For example, increasing the profit of stakeholders could be considered a social responsibility allocated to businesses. Stakeholders include customer, suppliers, business partners, governments, and employees will be involved in this strategy change. However, for the business to increase the profits of shareholders, they would need the support and cooperation of stakeholders. Companies are forced by regulations or the legal framework to assume a certain responsibility to stake holders. In this case, market regulation or specific company law could be considered as another challenge that business face. Such standards pull companies down especially in the sector of investing. They need to operate under rules and regulations of the law
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