The Value of Strong Ethical Business Practices and Social Responsibility
http://smallbusiness.chron.com/value-strong-ethical-business-practices-social-responsibility-24231.html
This article focuses on a variety of topics related to ethics and social responsibility. First of, it teaches us the value of a strong ethical business. Having a good product is not good enough, the customers have to believe in both you and the product. If they don’t trust you, they won’t trust your product no matter how good it is. Furthermore, this article talks about the risk of the lack of ethics in your employees. It gives an example of a sales person making an unethical transaction with a client, this can then cause a chain reaction as the client will tell others of this unethical transaction, hurting your business reputation. Also, the article mentions the importance of transparency to help gain customers trust and loyalty. You can achieve transparency by organizing monthly training sessions for workers and posting your business’s financial information on a public website. Finally, the article highlights some of the key points of social responsibility. It reminds us of the importance of being involved with charities, being committed to clients, and doing environmentally friendly things such as recycling.
How it relates to me & the unit?
This article covered a number of aspects of the introduction to business course. Mainly, the content of the article is a direct relation to the business fundamentals unit. It explains how to gain a consumer's trust, whilst being socially responsible. The importance of doing things the right way rather than the easy way is highlighted both in the article and the coarse. As for how this information can impact my personal life, I now know how to approach a business idea. It’s not all about the product, there are so many more aspects to consider and that is what business fundamentals is all about.
Definitions:
Hallmark: a mark stamped on articles of gold, silver, or platinum in Britain, certifying their standard of purity.
Transparency: operating in such a way that it is easy for others to see what actions are performed.
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http://smallbusiness.chron.com/value-strong-ethical-business-practices-social-responsibility-24231.html
This article focuses on a variety of topics related to ethics and social responsibility. First of, it teaches us the value of a strong ethical business. Having a good product is not good enough, the customers have to believe in both you and the product. If they don’t trust you, they won’t trust your product no matter how good it is. Furthermore, this article talks about the risk of the lack of ethics in your employees. It gives an example of a sales person making an unethical transaction with a client, this can then cause a chain reaction as the client will tell others of this unethical transaction, hurting your business reputation. Also, the article mentions the importance of transparency to help gain customers trust and loyalty. You can achieve transparency by organizing monthly training sessions for workers and posting your business’s financial information on a public website. Finally, the article highlights some of the key points of social responsibility. It reminds us of the importance of being involved with charities, being committed to clients, and doing environmentally friendly things such as recycling.
How it relates to me & the unit?
This article covered a number of aspects of the introduction to business course. Mainly, the content of the article is a direct relation to the business fundamentals unit. It explains how to gain a consumer's trust, whilst being socially responsible. The importance of doing things the right way rather than the easy way is highlighted both in the article and the coarse. As for how this information can impact my personal life, I now know how to approach a business idea. It’s not all about the product, there are so many more aspects to consider and that is what business fundamentals is all about.
Definitions:
Hallmark: a mark stamped on articles of gold, silver, or platinum in Britain, certifying their standard of purity.
Transparency: operating in such a way that it is easy for others to see what actions are performed.
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What Are the Benefits of Teamwork in Business?
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Top Marketing Trends for Small Businesses
https://www.entrepreneur.com/article/275291
Although this article is supposedly for small business, I think even big businesses can benefit from this information. In and ever so changing world, this article tells us the modern marketing strategies and helps us keep up with the trends. The first strategy (trend) is the human to human approach. Which is built on the idea of building relationships with audiences, they should feel emotional attachment and love the brand. The second method is brand community collaboration, which basically means encouraging your customers to spread your brand name through word of mouth. The third trend is using technology, but with a purpose. Don’t just use technology because it’s “in”, take time to create a well thought website, app or promotional video. Finally, the article also encourages the use of smart hashtags.
How it relates to me & the unit?
This article definitely is related to the MArketing unit. In the unit we learned about how as the world changes and becomes more high tech, so too will the way companies market their products. We learned how it’s crucial to keep up with trends or risk getting left behind. All this information actually already plays a huge part in my life already, as I am helping to promote my parents insurance business. Knowing all the new trends and marketing strategies is making me a huge asset to my parents.
Definitions:
Leverage: use borrowed capital for (an investment), expecting the profits made to be greater than the interest payable.
Perception: a way of regarding, understanding, or interpreting something; a mental impression.
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How it relates to me & the unit?
This article definitely is related to the MArketing unit. In the unit we learned about how as the world changes and becomes more high tech, so too will the way companies market their products. We learned how it’s crucial to keep up with trends or risk getting left behind. All this information actually already plays a huge part in my life already, as I am helping to promote my parents insurance business. Knowing all the new trends and marketing strategies is making me a huge asset to my parents.
Definitions:
Leverage: use borrowed capital for (an investment), expecting the profits made to be greater than the interest payable.
Perception: a way of regarding, understanding, or interpreting something; a mental impression.
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Accounting Ethics and Integrity Standards
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