Business management and governance is a core aspect of running an organization. Management and governance require strategic planning based on the business environment to ensure smooth operations. The business environment, internal or external, directly affects how an organization operates and decision-making of the organization. Legal environment determines the rules and regulations that govern business operations. The ethical environment determines the values and norms of the business. These two environments play an important role in business operations; hence it is important to know and understand what they entail and their effects on a business.
Relevant Topic
After my degree, I look forward to working in the human resource department. This is a department that governs and manages the affairs of employees to ensure organizational competitive advantage. The most relevant topic in this course is business management and governance. This topic has helped me gain important knowledge about the management of employee conduct, welfare, and discrimination. These are issues that have progressively become popular in the business environment. The knowledge on these issues will help me have the basics on the core operations in a human resource department. Employee conduct, welfare, and discrimination are crucial aspects of human resource management.
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Reflection
Law and ethics are topics I have heard in the past but not in depth. This course has provided new knowledge on the importance of the law and ethics in a business. Legal issues, though not well known by all, can either have a positive or negative effect on the business. I always thought that some laws were irrelevant to the business environment but this course has changed this attitude. The level of governance that the legal environment offers in business leads to sanity in business operation. Ethically, we would be a lost generation if codes of ethics did not exist. These codes govern how employees conduct themselves leading to a sane work environment.
Conclusion
Law, ethics, and governance are critical aspects in business. It is important for organizations to understand these areas of business operations. Knowledge helps in proper executions of the laws and ethics leading to effective corporate governance.
References
Elaine, I. (2014). Law and Ethics in the Business Environment. Boston, MA: Cengage Learning.
Jennings, M. (2018). Business: Its Legal, Ethical, and Global Environment (2nd ed.). Boston, MA: Cengage Learning.
Trevino, L. K., & Nelson, K. A. (2011). Managing Business Ethics: Straight Talk about How to Do It Right (5th ed.). New York: J Wiley.
