The Profit and Ethics Coursework - Essay Example

REFLECTION ON MY PROFIT AND ETHICS WORK al Affiliation) As I reflect back on my academic sojourn so far, I feel an intrinsic sense of satisfaction. It is a unique sense of satisfaction that comes about through intellectual stimulation and application of knowledge learnt in practice. Evidently, I have experienced a personal transformation that is clearly not of a physical nature but evident through my thinking process, communication and academic research. To this end, I acknowledge an array of topics covered in the module that profoundly shaped my persona, and influenced my understanding of other modules during this semester. As the a starting point, the module topic on learning styles gave me an understanding of my personal learning style and technique. Before undertaking the module, I was not aware that each person possessed different learning styles. However, the topic on learning styles helped me to identify my dominant style of learning. To this end, I identified linguistic, logical, interpersonal and intrapersonal learning styles as my core strengths. In effect, these learning styles proved essential in my profit and ethics coursework. Foremost, the profit, and ethics coursework was a controversial module that sought to establish the efficacy of business and corporate social responsibility co-existing in harmony. Bearing this in mind, I discovered that my understanding of the topic would require an inquisitive interpersonal learning style with my course mates. Particularly when discussing the proponent and opponents of ethical responsibility of business, the sentiments advanced by my colleagues were hepful in the to synthesis and formulation of a personal premise on the issue. Evidently, the profit and ethics assignment entailed a research on whether the goal of profit and ethics can co-exist in a business. This assignment was in reflection to the ongoing dispute between UK dairy farmers with the processors and large chain supermarkets over fair pricing. Consequently, I was able to tap in on the intrapersonal learning style through personal research on articles that presented both sides of the issue from the dairy farmers, milk processors and supermarkets perspectives. After a thorough and analytical understanding of the issue, I commenced to present my premise for the case for ethical responsibility through fair pricing by the milk processors and supermarkets. Consequently, I incorporated the logical learning style based on evidence and intellectual reasoning. Throughout the text, my logical reasoning was based on the precinct that ethical responsibility can be pursued in tandem with profit making. Evidently, I presented factual evidence on how the failure to implement a fair pricing mechanism would be detrimental in the profitability of the milk processors and supermarkets in the long run. As a result, I was able to deduce a logical argument to the effect that milk processors and supermarkets were steadily cutting back on their profits in the long term. It is vital to note that the centrality of critical thinking proved quite essential. Initially, my knowledge of critical thinking was based on a totally different precinct. My theory was that it was a learning doctrine limited to the realms of philosophers who engaged in splitting hairs over basic issues. However, the module course made me understand that critical thinking was a reflective thought process aimed discovering whether a statement is true, false or partly a mix of the two. Evidently, the opportunity to present the critical learning process came to pass during the profits and ethics coursework. Consequently, the logical evidence and conclusion in my line of reasoning was through critically examining the implications of Milton Freidman’s statement. To this end, Friedman asserted that the only social responsibility of a business is to utilize all resources within its grasp to maximize profit so long as it is within the rules of the game. By just glancing over the statement, the implication drawn is that businesses have no obligation to engage in ethical responsibility to its clients. Moreover, it equally implies that ethical or social responsibility negates the goal of profit making. However, I chose to apply a critical thinking process in Milton’s statement. In effect, I reasoned that in the case of the milk processors and supermarkets, a fair pricing for their primary suppliers, the dairy farmers, would be in their best interest of profit making. Accordingly, the supermarkets were in reality maximizing profits through cut throat bargaining of milk prices with the processors. However, at the same time the dairy farmers were opting to leave the business or shift their milk supply to independent milk vendors. This in effect, was going to project to a decrease in the long term profitability by the milk processors and supermarkets. Consequently, it would be in the favour or long term interest of the supermarkets and milk processors in imposing a fair pricing policy that reflected profits across the supply chain. In effect, this would not only be justifying Friedman’s claim from the business perspective, but on the flip side it proved that co-existence between ethical responsibility and profit making was possible. To this end, I believe that the critical thinking process will further aid me into being a reflective and analytical individual in my future sojourns. Moreover, knowledge gained in the Harvard referencing topic has transformed my writing and research skills. In reference to the profits and ethics course work, the assignment required an ethical knowledge of proper referencing. This is in recognition that I had to consult a myriad of articles on the controversy among UK dairy farmers, milk processors and supermarkets. To this end, I sourced for articles from reputable sources such as online newspapers by the ‘UK Telegraph and Guardian.’ In effect, these sources were prominently cited in the body of my research work. Through the insight gained from Havard reference style, I was able to generate in text citations, which follows the format of the author and year, for all the works cited. It is essential to note that, through citations, I was acknowledging the original authors’ of any information used in developing the research assignment. Moreover, the knowledge gained on paraphrasing was equally helpful. This is because it assisted me in rewriting information from articles and deducing my own inferences. In effect, I realized that paraphrasing was essential in synthesizing information from other article in an understandable format. Consequently, the paraphrased was in synch with the general flow of my profit and ethics coursework. Moreover, the overall assignment resonated with the characteristics of an essay based on verifiable evidence, critical thought process and logical reasoning. All this attributes were courtesy of the coursework covered in the module. To this end, I am positive of my future prospects since I have increased my intrinsic worth and stimulated my intellectual skills. - Read More