Principle of Responsible Commerce

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Name: Chuling Chen Student number: 3631503 Reflective Journal of COMM101: Principle of Responsible Commerce During the study of COMM101, I found that the principles of responsible commerce are really important for the development of our society, both in economic and culture areas. With the development of globalization, the competition among industries becomes more and more fierce. How to earn more profits with much lower operational cost has become every company's concern and pursuit. Unfortunately, in order to reach their profitable goal, many companies adopt illegal and immoral methods to conquer the market and maintain their market share. However, their improper market behavior is devastating to both the market and the enterprises themselves. On the one hand, their immoral market activity may break the market rules and regulation, which in turn disrupt the normal running of this industry and threaten the operation of other companies. Furthermore, their selfish behavior might help them reach their targets in the short run, but they may damage their own reputation and fame in the long run. Why it is happened? And how to make them avoided? Those lead me use the relevant theories that I learned from the text book to think about. Considering the danger that improper market behavior brought to both the society and the enterprises themselves, it is very important to set principles for every responsible enterprise to abide by when it is doing business. I got some views finally after search and analysis theories and cases. In this paper, I am going to intend to introduce five important principles which are hoped that these principles can be applied to the business transaction. In fact, the society has formulated a variety of principles for every enterprise to adhere to while doing business. In my opinion, those important and crucial ones
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