Learning 1:

Top 5 learnings

Greenwashing is defined as how a company reflects to society that we are environmentally friendly, but they are not. Companies could play around with this word until the truth comes to the surface. Many instances have been witnessed that, with the words “Eco,” “Environment friendly,” and “E products,” businesses pass any cost associated with this process to customers. On the other hand, with the high inflation in the recent past, terms like Skimpflation have become buzzwords among customers, which means the reduction of quality of the product, charging the customers at the same price. News investigations also aired on how customers are affected by purchasing products with less quality without knowing that customers are tricked.

As a future entrepreneur, I believe a long-term relationship with the customer is essential to maintaining trust in our business. Customers are loyal to the strong brand. As a company, we could create one. It avoids misleading customers to gain profit advantages. If companies keep misleading customers, they won’t be sustainable.

Learning 2:

It is not on a personal note, but as a society, paying taxes is truly important to up and running an entire country. Many people would like to find loopholes in the tax system and evade taxes, which will be an additional burden for those who pay taxes fairly. Honest tax payments by individuals support the social values of equity and justice. For several reasons, paying taxes is an ethical obligation. Everyone benefits from taxes supporting critical public services such as infrastructure and education. Concurrently, taxpayers' contributions provide the government with the necessary resources to address several social issues. It will ultimately be affected for the benefit of society as a whole.

It demonstrates our preparedness to make a fair amount of contributions to the well-being of society as we benefit from some other taxpayers' contributions indirectly in the way of public services and stable economic conditions. Paying taxes on time is a sign of social responsibility as an individual.

Learning 3:

Continuing a company without discrimination is advantageous in numerous ways. Discrimination in society creates an unfriendly working environment, ultimately adversely affecting the work environment. There are several ways in which discrimination occurs in a company. In my personal experience, I have experienced several discriminations during the hiring process and the workplace. It is limited to having a diversified work base. Some jobs are advertised for advertising; however, the position is gender biased.

As a future manager, having diverse teams can ensure innovation and value addition to the decision-making since they bring a range of viewpoints to the table. Consider an employee's qualifications before stereotypes or biases when making hiring or promotion decisions. Top talent is drawn to fair workplaces, boosting employee satisfaction and productivity. A positive firm image is also created by adhering to employment equity rules and practices, which improves customer satisfaction. Everyone in the company should be made aware of the importance of different talents from different people and respect their values.

Learning 4:

Due to the inability to access how environmental, social, and governance factors function in a company and without information on the company’s way of conducting business in certain areas, people find difficulties in recognizing the term responsible investment. Moreover, it isn't easy to make a sound decision regarding the investment without sound financial knowledge. Sometimes, there is a mindset that responsible investment provides lesser returns, which is also a reason to be reluctant to conduct research before performing any investment. From the company’s point of view, they reflect on society and show that they are responsible. However, the action doesn’t indicate so.

In future decisions, aligning our financial objectives when investing with another company ensures ethical decisions in investing companies. It shows that our moral values are aligned with our lucrative financial choices and that we cannot sacrifice our values for money. Sometimes, short-term paybacks are limited, but in the long run, it is added significant value to the investment. We might have a dilemma with our financial income against ethical practices, and our decision would be crucial if we value the practices of what we have learned from the course.

Learning 5:

I was blessed to start my career in a company that values employees in their company. Managers were helpful, open in conversation, valued our extra effort, and allowed growth opportunities. This made me loyal to the company, and I made additional efforts since we were motivated at the workplace. My company went on downtime due to the COVID-19 pandemic at its initial stage. Despite the hard times, I stayed with the company as they required my service as the accountant to manage all finances. Even though I knew the situation, management exposed the actual situation to other employees. By understanding the scenario, many employees willingly contributed during the problematic situation to manage company affairs.

There, I realized that the loyalty of employees and employers was equally valued. As a loyal employee, I could contribute to the organization to a greater extent. Moreover, employees contributed to the company during the hard times to ensure employer help. However, several employees took advantage of the situation. This experience taught me that loyalty is essential to a satisfying job.