Defining “responsible business”

Defining “responsible business”

  1. What impact do you hope a graduate business degree (business/data analytics) from the school will have on your career? (343 words)
  2. Tell us something about yoursself that makes you a strong candidate for admission which cannot be seen in either your resume or transcripts?
  3. Highlight your academic qualifications and accomplishments.
  4. School defines “responsible business” boadly, referring to the concern for and involvement with the quadruple bottom line of people, Ethics. Planet & Profit/Performance (PEPP). Write a short statement identifying three reasons why a responsible and global business prespective can enhance business success in a globalized world. (343 words)

Defining “responsible business”

Sample Solution

 

There are several reasons why countries trade with one another. Trade among nations is taken as a sign of good intent and a means of maintaining non-hostile diplomatic relations. Trade is used to empower allied nations by providing them with valued resources such as oil, grain, or bullets, as well as crippling and weakening rivals by imposing economic sanctions on goods & services such as: military armaments, food, or medicine. Bans such as these are used to punish nations or motivate a change in their political and economic behavior. A course of action that the United States of America has pursued several times when suspect of nations endoursing terrorism. Moreover, trade unifies neighbouring countries with shared economic ideals by creating a common currency and trade laws that bolster each party’s economic power. The establishment of the euro for example in 2002 united 12 countries and is now used in 22 countries, currently overpowering the US dollar. Essentially countries trade in order to purchase goods and/or services that would not have been available within their borders either due to insufficient resources or underdeveloped technology. Therefore through trade, countries are able to obtain any desired good or service that would have otherwise been unattainable or would have placed a burden on economic activity. International trade may be described as a interdependent web of sustainability among countries. International trade therefore mirrors specialisation, this being a key concept underlined in the law of comparative advantage. The law of comparative advantage involves the opportunity costs of two or more parties (a firm or company, in this case a country) in their production of a good or service and highlights their ability in producing it at the highest possible efficiency in relation to all the other possible goods or services that could have been produced in its place. In this sense, there is merit in trading w>

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