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Why Business? What is the Role of Business in a Just and Humane Society

The course examines the common perceptions of business (both positive and negative) and the role of business in a market economy by first introducing the main elements of a market economy, and then presenting opposing points of view of this economic model.The course encourages reflection upon the possibility that business can be honorable and play a role in a just and humane society.

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What's inside

Syllabus

Justice in a Commercial Society?

Many people are suspicious of business. Should they be? Can business be honorable? Is business required to “give back” to society? These are some of the questions you’ll consider during this first week of the course. I will introduce you to common perceptions of business (negative and positive) and encourage you to reflect upon the possibility that business can be honorable and play a role in a just and humane society.

Value – Broken Windows and Prices

Can everything be priced in a market? Where do prices come from, and what do they do? In this second week of the course, you will examine what prices do, learn about what they are for, and consider whether or not markets can price everything.

Objections to Markets

What are the most important worries about or objections to market economies? Can markets be moral? In week 3, you will consider the social responsibilities of business. You will also consider criticisms of markets and arguments for government intervention in the economy.

Why Business?

Can one be fully moral and at the same time engage in business in a market economy? Can one express one’s moral values and live a virtuous life in business? In Week 4, you will come full circle to address the essential question of the course: Why business? This week, you’ll reflect on the role of business in a just and humane society. You will also consider the role of business from your own perspective, and you will have a chance to examine (question) your own moral obligations as a person engaged in or with business.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Examines the ethical implications of business in a market economy

Presents balanced discussions on both positive and negative perceptions of business

Core audience is likely to be business professionals, students, or individuals interested in the ethical dimensions of business

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Why Business? What is the Role of Business in a Just and Humane Society with these activities:

Review the basics of economics

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Understand the fundamental concepts of economics, which will provide a foundation for the course.

Browse courses on Economics

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Read a textbook introduction to economics
Review notes or study materials from previous economics courses
Watch online videos or tutorials on economic principles

Create a course notebook

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Organize and synthesize course materials, including lecture notes, readings, and assignments, to enhance your comprehension.

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Designate a notebook or digital document for course materials
Regularly add and update lecture notes, summaries of readings, and solutions to assignments
Review and revise your notes to improve retention

Review Capitalism and Freedom

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Reviewing Capitalism and Freedom will provide you with a deeper understanding of the role of business in a free market economy. Friedman argues that capitalism is the only economic system that can guarantee both economic freedom and political freedom.

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Read the book.
Take notes on the main points.
Write a summary of the book.

Six other activities

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Read 'The Virtue of Prosperity' by Robert Sirico

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Gain insights into the ethical dimensions of business and its role in a just society.

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Purchase or borrow a copy of the book
Read the book and take notes
Summarize the main arguments and perspectives presented in the book

Attend a business ethics workshop

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Engage with experts and industry professionals to gain practical insights into ethical decision-making in business.

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Find and register for a relevant workshop
Attend the workshop and participate actively
Reflect on the key takeaways and their applicability to your own business practices

Join a study group

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Engage with peers to discuss course topics and deepen your understanding through collaboration.

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Find a study group or create one with classmates
Schedule regular meetings to discuss course material
Take turns presenting on different topics
Work together on practice problems or assignments

Volunteer at a non-profit organization

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Gain practical experience and apply your understanding of business ethics by assisting a non-profit organization.

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Identify a non-profit organization that aligns with your interests
Contact the organization and inquire about volunteer opportunities
Commit to a regular volunteering schedule
Engage in activities that support the mission and operations of the organization

Solve business case studies

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Develop your analytical and problem-solving skills by applying course concepts to real-world business scenarios.

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Find business case studies online or through the course materials
Read the case study and identify the key issues
Analyze the data and develop potential solutions
Present your findings and recommendations

Develop a business plan

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Apply course concepts by creating a comprehensive business plan that demonstrates your understanding of business operations.

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Identify a business opportunity
Research the market and competition
Develop a marketing and sales strategy
Create financial projections
Write an executive summary

Career center

Learners who complete Why Business? What is the Role of Business in a Just and Humane Society will develop knowledge and skills that may be useful to these careers:

Investment Banker

Investment Bankers provide financial advice to companies and governments. They help companies raise capital through stock and bond offerings. They also help governments finance their operations. Investment Bankers must have a strong understanding of economics, finance, and business. This course can help future Investment Bankers develop a strong foundation in economics and business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Financial Analyst

Financial Analysts use financial data to make investment recommendations. They analyze company performance, industry trends, and economic conditions to assess the financial health of companies and make predictions about their future performance. Financial Analysts must have a strong understanding of economics, finance, and business. This course can help future Financial Analysts develop a strong foundation in economics and business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

See salaries and explore the career path for Financial Analyst

Project Manager

Project Managers plan, organize, and direct the activities of a project. They are responsible for ensuring that projects are completed on time, within budget, and to the required quality standards. Project Managers must have a strong understanding of business principles and project management practices. This course can help future Project Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Sales Manager

Sales Managers lead and motivate sales teams to achieve sales targets. They develop sales strategies, set sales goals, and track sales performance. Sales Managers must have a strong understanding of business principles and sales techniques. This course can help future Sales Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

See salaries and explore the career path for Sales Manager

Product Manager

Product Managers are responsible for the development and marketing of products. They work with engineers, designers, and marketing teams to bring products to market. Product Managers must have a strong understanding of business principles and product development processes. This course can help future Product Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Operations Manager

Operations Managers oversee the day-to-day operations of a business. They are responsible for planning, organizing, and directing the activities of employees. Operations Managers must have a strong understanding of business principles and management practices. This course can help future Operations Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Accountant

Accountants examine business and financial records to prepare financial statements, such as balance sheets and income statements. They also analyze business operations to find ways to improve profitability. Accountants must have an understanding of economics, accounting principles, and business law. This course can help future Accountants develop a strong foundation in economics and business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Management Consultant

Management Consultants help companies improve their performance. They analyze business operations, identify problems, and develop solutions. Management Consultants must have a strong understanding of business principles and management practices. This course can help future Management Consultants develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

See salaries and explore the career path for Management Consultant

Marketing Manager

Marketing Managers develop and implement marketing campaigns to promote products and services. They research market trends, identify target audiences, and develop marketing strategies. Marketing Managers must have a strong understanding of business principles and marketing techniques. This course can help future Marketing Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

See salaries and explore the career path for Marketing Manager

Strategy Consultant

Strategy Consultants help companies develop and implement strategies to achieve their business goals. They analyze business operations, identify opportunities, and develop strategies to improve performance. Strategy Consultants must have a strong understanding of business principles and strategic planning processes. This course can help future Strategy Consultants develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Lawyer

Lawyers advise and represent clients in legal matters. They interpret and apply laws, regulations, and legal precedents to advise clients on their legal rights and obligations. Lawyers must have a strong understanding of business principles and legal principles. This course can help future Lawyers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Judge

Judges preside over legal proceedings and make decisions based on the law and evidence presented in court. They must have a strong understanding of business principles and legal principles. This course can help future Judges develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Teacher, Postsecondary

Postsecondary and adult educators instruct classes at colleges, universities, and other educational institutions. They work with students to help them learn and grow in their academic and professional lives. This course can help future Postsecondary Teachers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Urban and Regional Planner

Urban and regional planners make plans for the development of land and communities. They analyze land use data, population trends, and economic conditions to develop plans that promote sustainable development. Urban and regional planners must have a strong understanding of business principles and land use planning principles. This course can help future Urban and Regional Planners develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Purchasing Manager

Purchasing Managers oversee the procurement of goods and services for an organization. They negotiate contracts with suppliers, manage inventory, and track purchasing costs. Purchasing Managers must have a strong understanding of business principles and supply chain management practices. This course can help future Purchasing Managers develop a strong foundation in business principles. The course will also help students understand the role of business in society and the ethical implications of business decisions.

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Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Why Business? What is the Role of Business in a Just and Humane Society.

The Wealth of Nations

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This classic work of economics is considered one of the most important books ever written on the subject. It provides a comprehensive overview of the principles of economics and explores the role of government in the economy.

Why Business? What is the Role of Business in a Just and Humane Society

What's inside

Syllabus

Good to know

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Activities

Career center

Reading list

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