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For this assignment:
Please reply to 2 classmate’s post that is below.
450 words or more
APA format
3 scholar references
In cite citation
Response 1
Technology drives the U.S. health care system and the U.S. is a
global leader of research and innovation in medical technology
development. As of 2012, U.S. spending on research and
development in medical technology development attributes for
44.4% of total global spending (Shi & Singh, 2017). The
growing use of medical technology in the United States has
introduced many challenges, some of which includes moral and
ethical dilemmas. New technology has allowed for people with
certain medical conditions to live longer with a better quality of
life. One of the areas of research that causes many debates is
stem cell research. Stem cells are considered the “repairers” of
the body. Their purpose is the regeneration and preservation of
body tissue throughout our lives. Researchers, so far, have been
able to isolate both adult stem cells and embryonic stem cells.
Stem cells can be used for tissue generation in a variety of
organs. These cells can be programmed to create a variety of
tissues to treat chronic conditions such as Alzheimer’s and
diabetes (Shi & Singh, 2017). Unfortunately, isolation of adult
stem cells is more difficult. Isolation of stem cells in adults has
been around for decades; however, isolation of stem cells in
embryos has only been around since 1998. The attraction of
embryonic stem cells is from their “undifferentiation;” they
haven’t been programmed to fix only certain parts of the body
(Nisbet, 2004, p. 132). However, with the discovery of the
potential uses of embryonic stem cells comes consequences. As
Barker and Beaufort (2013) state, “Those derived from the
developing embryo or foetus tend to have greater capacity for
expansion and differentiation but bring with them safety issues
of tumourigenicity and ethical problems related to the
destruction of the embryos/foetus.” Isolation of embryonic stem
cells requires the destruction of the embryo, which has been a
hot topic since its discovery. One of the primary ethical issues
for society is with the isolation of embryonic stem cells. At
what point is the embryo considered a person? Are we killing a
person to obtain the stem cells? Another issue involves the
ethics of protecting the weak and vulnerable. Does the isolation
of embryonic stem cells result in the destruction of a vulnerable
organism? There are many viewpoints on when an embryo is
considered a person. Some believe that it is the moment that the
sperm and egg unite. Others believe it is when the embryo is
either 5 days old, or 14 days old (Sivaraman, M.A.F. & Noor,
S.N.M., 2016). The ongoing debate of whether or not it is
ethical to destroy embryos to obtain undifferentiated stem cells
to improve the quality of life of others will certainly continue
for some time. For Christian health care professionals, the
issues remain the same in some ways. As Christians, we
understand that the creation of an embryo is God’s will. God
decides when life begins and when life ends. Who are we as
human beings to go against God’s will? In order to obtain the
embryonic stem cells, we would need to destroy the embryo.
Depending upon the point of view of when life begins,
destroying the embryo could mean deciding to end life, which is
God’s decision. However, on the other hand, if we have the
ability to improve the quality of life for those less fortunate,
why would we pass that up? Perhaps that too is going against
God’s will. Although it is sometimes hard to understand why
God would intend someone to be born with physical or mental
disabilities, those with disabilities are not any less human or
any less cared for than those without disabilities. As
Christian’s, we need to be sure to follow God’s guidance in
everything that we do, including professional research. As
Proverbs 3:6 tells us, “Seek His will in all that you do, and He
will show you which path to take” (NLT).While there may
sometimes be uncertainty with what God’s will may be, it does
not mean that Christians should not pursue what they believe is
right according to the Bible. Although Christians do have to be
more careful due to push-back from secular people. Despite the
fact that Christians often face more scrutiny in our society, it
doesn’t mean that Christians should stand by the wayside during
challenging times of uncertainty. God will give us the strength
and guide us to do what is right during tough times. Health care
professionals must continue to engage their local, state, and
federal governments to educate and challenge them on what is
right and what is wrong according to the Bible.Personally,
deciding what is ethical is a dilemma I have faced for a while as
a health care professional. As a Christian, I feel that the
destruction of embryos in order to benefit others is not right,
especially as the embryo is entirely vulnerable. However, I am a
medical operations officer in the U.S. Army Reserve, who has
seen many other soldiers that have lost their limbs, skin, etc. in
battle. According to Christopherson and Nesti (2011),
applications of stem cell research can lead to the regeneration
of nerve cells, ocular cells, cardiac cells, skin cells, and
musculoskeletal cells. Many of these people have fought for this
country, and what it means to be free. If we could provide them
with a better quality of life through the research of embryonic
stem cells, is it really wrong? I came to the conclusion, that
there are always alternatives. Adult stem cells, while harder to
obtain, are still an option for researchers. Researchers can
continue with the isolation of adult stem cells, which doesn’t
require ending people’s lives. These cells are still beneficial to
development of tissues for medical treatment. Perhaps someday
in the near future researchers will discover a way to isolate stem
cells from embryos without destroying them. Alternatively,
researchers could continue to discover the potential of adult
stem cells, making the farming of embryonic stem cells
unnecessary. On top of that, an additional way of regenerating
tissue may develop in the future that does not consist of
harvesting stem cells at all. Of course, I will continue to pray
on the issue and ask for God’s guidance to our country and all
health care professionals, on what the right path to take. As
Psalm 139:1-3 says, “O Lord, you have searched me and you
know me. You know when I sit and when I rise; you perceive
my thoughts from afar. You discern my going out and my lying
down; you are familiar with all my ways” (ESV).
Response 2
The case study that you are about to read, tells a story of Clara
and her personal struggles with personalized medicine as a
person of faith. Clara first exibited the symptoms ( confusion,
disorientation, memory loss, and negative thinking) in the early
1990's. She had just recently dedicated her life to the Lord Jesus
Christ and not many weeks later, she started experiencing
interruptions in her sleep patterns. She would awake in the night
by jerks of her legs and an inability to fall back to sleep. Clara
was prescribed medicine for a nerve problem and skin agitation.
It would be three years later before Clara would be diagnosed
with a mood disorder, which is considered an undiagnosed
mental illness. She was initially prescribed Zyprexa, an anti-
psychotic drug. Clara for many years believed that she had to
take the medicine because she had never experienced such
symptoms before and it was extremely scary to her. She felt that
she was out of her mind and that she had lost control of her
livelihood. Society believes that a person with a mental illness
is a threat to their surrounding if they are not taking
medications as prescribed. The ethical issue for the Christian
healthcare professional would be that the anti-psychotic drugs
are mind altering and that healing is available, if a person is a
believer. After much debate and seeking God's wisdom, Clara
found it to be an acceptable form of healing in the earth. She
was reminded that it is not a sin to take medication for mental
illness and discovered most of her heartache to be that she did
not want to take the medicine nor did she like the side effects of
the medicine.
For this assignment:
Please reply to 3 classmate’s post that is below.
150 words or more
APA format
3 scholar references
In cite citation
Response 3.
The key term I’ve decided to discuss is Global Business. Global
business is essentially international business and it is of interest
to me as it is an integral factor that drives our economy. Global
business has a monumental impact on all our lives and without
it our livelihood would not be the same. In essence, we do
business and trade with other countries to satisfy our country’s
wants and needs. The products we don’t have in our country are
imported globally, and we export products that others need as
well. Global business is important as it includes all domestic
business with transactions in the international market and it
reaches multinational businesses. Understanding global business
is an interest of mine and it may lead to more knowledge in
cross culture communication and commerce.
Explanation
Global business could be considered broadly as conducting
business without boundaries. Additionally, global business
takes place domestically and internationally through trade,
transactions, commerce, and the exchange of products and
services. Global business also relates to individual business
entities resulting from that local entity exchanging products,
services, or capital with an entity from another nation. The
exchange is a part of global business due to an international
transaction. Essentially, a business that often partakes in
international transactions qualifies to be a global business.
Important factors to consider in global business are the
geographical scope in which it operates, understanding of the
cultural influences that will affect marketing, taking account of
market factors such as foreign exchange rates, and management
practices of global business.
Major Article Summary
The study of business ethics research on a global
perspective provides more information on global business and
the ethics involved. The findings include that global business
ethics became a popular and important mechanism for building
better business practices internationally between different
countries. In addition, The United States remains the top
producer of business ethics research to help others develop
globally in business (Chan et al., 2016).
The article Global Competitiveness and Local Business
Development written by Ashley Zuelke (2016) focuses on the
global competitiveness and local business development in the
U.S. the topics discussed include the aspects of the association
between export trade and economic development including
concepts considering expansion and job equality, the roles of
Economic Development Organizations, and the state’s
approaches which focus on the development and growth in the
international trade (Zuelke, 2016).
Global Oceans Governance: New and Emerging Issues written
by Campbell et al., (2016) provides information on the
increased interest in oceans leading to new and renewed global
governance efforts directed toward ocean issues in areas of food
production, biodiversity conservation, industrialization, global
environmental change, and pollution. A review of new and
emerging issues in global oceans governance is given
contemporary interest in oceans with global business in mind.
Essentially, interest is driven by both recognition of the
economic potential of oceans and its development opportunity,
as well as the role in global environmental processes (Campbell
et al., 2016).
Institutions, Principles and Judgement: The Relevance of the
Natural Law Tradition For Articulating Business in a Global
Context is an article written by Ana Marta Gonzalez (2015) that
argues the relevance of natural law for framing and addressing
ethical issues raised by the practice of business in a global
context. The article further mentions that the classical natural
law is seen as the law of practical reason which leads to cultural
realizations of humanity and results in stimulation of personal
and common good as well as sustainable development globally
(Gonzalez, 2015).
Authors Jimenez-Sanchez Gerardo and G.J. Scoles
(2015) wrote an article on Genomics which is the study of genes
and their roles in inheritance. In addition, genomics has
generated assets to propel innovation and address global
challenges such as human health, food security, energy source,
and environmental sustainability (Jimenez-Sanchez & Scoles,
2015). Genomics plays a major role to meet bioeconomic
agendas and local needs. The innovation contributes to global
business due to individualized, predictive, and preventive
medical practice beneficial to countries.
Discussion
A. The articles I have focused on relate directly to
global business as the information pertain to conducting
business on a global scale. The articles mention the difference
between global and domestic business management observed in
a nation’s culture. Also, the differences between a domestic
business and a global enterprise include domestic businesses
operating at the locally, where a global enterprise operates
within foreign cultures. In essence, the work mentioned also
considers the market factors in global and domestic business
management. The market factors include demographic,
sociologic, and economic forces that varies from regions.
Global business is a broad topic that relates to the articles as
they contain information about conducting business
internationally and the methods used to do so. The articles
directly relate to the assigned work resulting in the discussion
of international business and the means to conduct transactions
globally.
B. All the articles that I have researched tie directly to
each other as they all have the conduct of global business in
common. Consequently, all the articles have the central theme
of the development of business among different countries and
what tools lead to a nation’s growth. Conducting global
business will help improve any type of economy due to
acquiring resources that are needed to increase and drive growth
within a nation. International business will always be a factor
since everything we have or acquire are a result of global trade
and exchange between different nations. In conclusion, the
study of global business is important as it will always be a topic
that we deal with due to the fact that our country, as well as
others, depend on it.
Response 4
Key Term and Why You Are Interested in: It I chose the key
term Operational Risk because of my current position at work,
where I work in operations management. Within my work, I
help to implement processes, and work to improve operational
processes. With all processes, there are risk of failure. If they
fail, there could be a loss to the company. If time is lost, then
that will affect the bottom line or reduce forecasted yields. I am
interested in diving into this topic further to gain a further
understanding of operational risk. I sometimes get focused on
how operational risk may affect my portion of work and I don’t
look outside of my personal work functions. There are much
broader aspects of operational risk, and I believe this research
will help me to have a better understanding of those risk.
Explanation of the Key Term : In any business, there is an
operation department that makes that business work and
function. In my work experience this is the backbone for any
business. Operations brings the product or service from
conception to delivery in the marketplace. Generally, it is made
up of lots of moving parts and individuals within that
department. Operational risk is the potential for business loss.
If something is not done correctly, or does not function
properly, then the operations of the company could be at risk.
Essentially the company will lose money or will not make the
expected profits, if the risk is realized. Risk management
allows for corporate governance over a business and helps to
assure proper return to shareholders (Croitoru, 2014). In my
current function at work, it is my job to forecast potential
operational risk, and help to mitigate those risks. Major Article
Summary: In the article, Measuring and Managing Operational
Risk, written by Samir Shah (Shah, 2002), the author notes that
risk managers are searching for means and methods to measure
and manage the risk of operations. Two characteristics of
operational risk were presented; specific and dynamic risk
(2002).The first risk characteristic would be the risk that is
specific to the business. For instance, the type of business will
determine what type of employee or process the company may
have or need to prevent risk. The type of industry will give
indications as to what historical risk there would be in that type
of business. For example, a construction company will need
construction workers that are safe operators. History would let
us know that there is high risk with construction workers across
the construction industry. Knowing what the risk is, will help
the company to plan for those risks. The second risk
characteristic is dynamic risk, or the changing risk. Company
processes may change or evolve over the course of
time. Organizational structure, leadership or ownership may
change with the hiring or firing of leadership, or sale of stock
by an owner. Corporate culture may change as well. Some
companies may have had a strong focus on giving back to the
community and not so much on large profits. If that dynamics
of the company changes and the company begins to focus on
profits, the culture may change. With this change, the
employees may not the same fit within the organization. The
risk manager must consider that if the change is made, will it
affect the company, and is the risk worth the change. The article
suggests that in most cases, risk modeling is helpful to identify
and prevent risk occurrence (2002). Risk can be found by
historic review of the company, or industry data. Other
methods include expert input. Many companies use
combinations of both methods to help in the efforts of
identifications (2002).The author explains that risk modeling is
an ever-changing practice. Computerized risk modeling
software is changing everyday as technology improves and more
historic data is logged. This is very helpful for operational risk
management and allows lessons learned from the past to be used
in the current and future states of operational risk. What is
risk? Risk is the potential for something to happen in the
future. Most businesses focus on adverse future risk and look
to mitigate that risk prior to it happening. Operational risk
managers must look to identify risk impacts and the chances of
the risk to occur (Prokop, & Pfeifer, 2013). At the beginning of
the research I had an idea of how operational risk applied to my
job, but did not have much further information. After
researching this subject further and reading the article I was
intrigued by the history of operational risk management, and its
evolution. The article was very helpful for me to see the two
key ways to determine risk. I will now be able to subdivide risk
as specific and dynamic risk. Prior to this research, I had not
given any thought to modeling or looking for software to use in
risk management. Currently I log lessons learned to obtain
historic data, however software may help to lessen, the lessons
learned. Something I did not expect to learn when I chose this
key term. The article researched focused on two key aspects of
operational risk and how to help manage that risk. Other works
researched went into more specific types of business. For
instance, the article Operational Risk Modeling and
Management takes the approach that operation risk is a key
function in financial and banking businesses (2014). Risk such
as these are looked at heavily by bank regulators. Regulations
are implemented to limit risk in banks. Another article went
into far more broader aspects for operational risk and key risk
indicators (Andersen, Häger, & Vormeland, 2016). This article
stated that KRI’s should be relevant, measurable, predictive,
easy to monitor auditable and comparable (2016). In
comparison, the feature article only focused on two aspects of
risk, those aspects can be applied across the board to all
businesses.
Response 5 WTO
Key Term and Interest
For this week’s forum, I chose the World Trade Organization.
This key term interests me because having been in the U.S.
Navy and traveled different countries, has given me greater
academic curiosity as to the different aspects that make up the
World Trade Organization and its multinational involvement. It
also intrigues me that this one organization has been key in
developing better trade relationships between nations, despite
all the different cultural, economic and business characteristics
of each region. However, the World Trade Organization’s focus
in regards to the resolution of disputes between nations has also
played a part in cultivating trade cordialities.
Explanation of Key Term
Established in 1992, the World Trade Organization assists in the
formation of trade agreements between nations by instituting
fair trade negotiations that deal with laws, policies, and various
barriers to trade (World Trade Organization, 2017). However,
when disagreements arise between countries, the World Trade
Organization steps in to legally minister ongoing issues and
helps to diffuse matters affecting all parties involved (World
Trade Organization, 2017). As of today, the World Trade
Organization has 164 participating countries and encompasses
16 distinct multilateral trade contracts and two plurilateral trade
contracts between all member nations (World Trade
Organization, 2017). While all nations are not fully developed,
the World Trade Organization is continually fostering initiatives
for undeveloped countries into becoming members to further
progress international free trade (World Trade Organization,
2017).
Major Article Summary
In their article, “What Is Litigation in the World Trade
Organization Worth?”, Michael M. Bechtel and Thomas Sattler
(2015) examine the effects of litigation processes in the World
Trade Organization, and thus, involving principal, third, and
neutral participants. As part of their research, Bechtel and
Sattler analyzed several World Trade Organization disputes
along with data corresponding to economic power, conflict,
joint democracies, trade flows and trade variables that
constitute why some nations take part as principal parties in
forming disputes (2015, p. 388-391). According to Bechtel and
Sattler, past research has brought into question the reliability of
the World Trade Organization’s dispute systems, and whether
small undeveloped countries have the same amount of legal
standing against wrongful countries, as do major ruling
countries (2015, p. 376). Their study suggested that due to not
having enough legal, monetary, and influential resources, small
undeveloped countries are more likely to enter trade disputes as
third parties or remain neutral (Bechtel & Sattler, 2015, p.
376). Bechtel and Sattler’s study proved that by entering
dispute panels as third parties, poorer countries profited greatly
in terms of trade exports through the principal party’s legal
efforts against the accused country (2015, p. 382, 395).
However, by remaining neutral, poorer countries benefited by
observing the outcomes of the dispute panels, acquiring legal
understanding of the World Trade Organization’s procedures,
and gained clearer advantages to further their own complaints in
the future (Bechtel & Sattler, 2015, p. 384, 397-398). Though
regardless of the position that a nation takes during a dispute,
there are consequential spillover effects in which not only third
party countries benefit from, but surrounding communities tend
to have advantages from the rulings also (Bechtel & Sattler,
2015, p. 398). Hence, according to Bechtel and Sattler, there
was substantial evidence that the World Trade Organization’s
dispute systems have positive results on eliminating barriers to
trade, fostering economic growth and improving exports for
both undeveloped and developed nations (2015, p. 394).
Discussion of Cited Works
Bechtel and Sattler’s article relates to the World Trade
Organization because the dispute process is a major component
of the organization. When countries do not agree, or have
trouble entering into trade agreements, the World Trade
Organization is the mediator through which both nations can
come into contracts with one another. The process in which the
World Trade Organization uses is called the International
Centre for Settlement of Investments Disputes (ICSID) and all
international members can partake in legal issues. This article
also relates to all other 4 scholarly articles because they all
pertain information concerning the World Trade Organization
and the dispute resolution mechanisms.
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Ethical debates in stem cell research and healthcare

  • 1. For this assignment: Please reply to 2 classmate’s post that is below. 450 words or more APA format 3 scholar references In cite citation Response 1 Technology drives the U.S. health care system and the U.S. is a global leader of research and innovation in medical technology development. As of 2012, U.S. spending on research and development in medical technology development attributes for 44.4% of total global spending (Shi & Singh, 2017). The growing use of medical technology in the United States has introduced many challenges, some of which includes moral and ethical dilemmas. New technology has allowed for people with certain medical conditions to live longer with a better quality of life. One of the areas of research that causes many debates is stem cell research. Stem cells are considered the “repairers” of the body. Their purpose is the regeneration and preservation of body tissue throughout our lives. Researchers, so far, have been able to isolate both adult stem cells and embryonic stem cells. Stem cells can be used for tissue generation in a variety of organs. These cells can be programmed to create a variety of tissues to treat chronic conditions such as Alzheimer’s and diabetes (Shi & Singh, 2017). Unfortunately, isolation of adult stem cells is more difficult. Isolation of stem cells in adults has been around for decades; however, isolation of stem cells in embryos has only been around since 1998. The attraction of embryonic stem cells is from their “undifferentiation;” they haven’t been programmed to fix only certain parts of the body (Nisbet, 2004, p. 132). However, with the discovery of the potential uses of embryonic stem cells comes consequences. As
  • 2. Barker and Beaufort (2013) state, “Those derived from the developing embryo or foetus tend to have greater capacity for expansion and differentiation but bring with them safety issues of tumourigenicity and ethical problems related to the destruction of the embryos/foetus.” Isolation of embryonic stem cells requires the destruction of the embryo, which has been a hot topic since its discovery. One of the primary ethical issues for society is with the isolation of embryonic stem cells. At what point is the embryo considered a person? Are we killing a person to obtain the stem cells? Another issue involves the ethics of protecting the weak and vulnerable. Does the isolation of embryonic stem cells result in the destruction of a vulnerable organism? There are many viewpoints on when an embryo is considered a person. Some believe that it is the moment that the sperm and egg unite. Others believe it is when the embryo is either 5 days old, or 14 days old (Sivaraman, M.A.F. & Noor, S.N.M., 2016). The ongoing debate of whether or not it is ethical to destroy embryos to obtain undifferentiated stem cells to improve the quality of life of others will certainly continue for some time. For Christian health care professionals, the issues remain the same in some ways. As Christians, we understand that the creation of an embryo is God’s will. God decides when life begins and when life ends. Who are we as human beings to go against God’s will? In order to obtain the embryonic stem cells, we would need to destroy the embryo. Depending upon the point of view of when life begins, destroying the embryo could mean deciding to end life, which is God’s decision. However, on the other hand, if we have the ability to improve the quality of life for those less fortunate, why would we pass that up? Perhaps that too is going against God’s will. Although it is sometimes hard to understand why God would intend someone to be born with physical or mental disabilities, those with disabilities are not any less human or any less cared for than those without disabilities. As Christian’s, we need to be sure to follow God’s guidance in everything that we do, including professional research. As
  • 3. Proverbs 3:6 tells us, “Seek His will in all that you do, and He will show you which path to take” (NLT).While there may sometimes be uncertainty with what God’s will may be, it does not mean that Christians should not pursue what they believe is right according to the Bible. Although Christians do have to be more careful due to push-back from secular people. Despite the fact that Christians often face more scrutiny in our society, it doesn’t mean that Christians should stand by the wayside during challenging times of uncertainty. God will give us the strength and guide us to do what is right during tough times. Health care professionals must continue to engage their local, state, and federal governments to educate and challenge them on what is right and what is wrong according to the Bible.Personally, deciding what is ethical is a dilemma I have faced for a while as a health care professional. As a Christian, I feel that the destruction of embryos in order to benefit others is not right, especially as the embryo is entirely vulnerable. However, I am a medical operations officer in the U.S. Army Reserve, who has seen many other soldiers that have lost their limbs, skin, etc. in battle. According to Christopherson and Nesti (2011), applications of stem cell research can lead to the regeneration of nerve cells, ocular cells, cardiac cells, skin cells, and musculoskeletal cells. Many of these people have fought for this country, and what it means to be free. If we could provide them with a better quality of life through the research of embryonic stem cells, is it really wrong? I came to the conclusion, that there are always alternatives. Adult stem cells, while harder to obtain, are still an option for researchers. Researchers can continue with the isolation of adult stem cells, which doesn’t require ending people’s lives. These cells are still beneficial to development of tissues for medical treatment. Perhaps someday in the near future researchers will discover a way to isolate stem cells from embryos without destroying them. Alternatively, researchers could continue to discover the potential of adult stem cells, making the farming of embryonic stem cells unnecessary. On top of that, an additional way of regenerating
  • 4. tissue may develop in the future that does not consist of harvesting stem cells at all. Of course, I will continue to pray on the issue and ask for God’s guidance to our country and all health care professionals, on what the right path to take. As Psalm 139:1-3 says, “O Lord, you have searched me and you know me. You know when I sit and when I rise; you perceive my thoughts from afar. You discern my going out and my lying down; you are familiar with all my ways” (ESV). Response 2 The case study that you are about to read, tells a story of Clara and her personal struggles with personalized medicine as a person of faith. Clara first exibited the symptoms ( confusion, disorientation, memory loss, and negative thinking) in the early 1990's. She had just recently dedicated her life to the Lord Jesus Christ and not many weeks later, she started experiencing interruptions in her sleep patterns. She would awake in the night by jerks of her legs and an inability to fall back to sleep. Clara was prescribed medicine for a nerve problem and skin agitation. It would be three years later before Clara would be diagnosed with a mood disorder, which is considered an undiagnosed mental illness. She was initially prescribed Zyprexa, an anti- psychotic drug. Clara for many years believed that she had to take the medicine because she had never experienced such symptoms before and it was extremely scary to her. She felt that she was out of her mind and that she had lost control of her livelihood. Society believes that a person with a mental illness is a threat to their surrounding if they are not taking medications as prescribed. The ethical issue for the Christian healthcare professional would be that the anti-psychotic drugs are mind altering and that healing is available, if a person is a believer. After much debate and seeking God's wisdom, Clara found it to be an acceptable form of healing in the earth. She was reminded that it is not a sin to take medication for mental illness and discovered most of her heartache to be that she did not want to take the medicine nor did she like the side effects of
  • 5. the medicine. For this assignment: Please reply to 3 classmate’s post that is below. 150 words or more APA format 3 scholar references In cite citation Response 3. The key term I’ve decided to discuss is Global Business. Global business is essentially international business and it is of interest to me as it is an integral factor that drives our economy. Global business has a monumental impact on all our lives and without it our livelihood would not be the same. In essence, we do business and trade with other countries to satisfy our country’s wants and needs. The products we don’t have in our country are imported globally, and we export products that others need as well. Global business is important as it includes all domestic business with transactions in the international market and it reaches multinational businesses. Understanding global business is an interest of mine and it may lead to more knowledge in cross culture communication and commerce.
  • 6. Explanation Global business could be considered broadly as conducting business without boundaries. Additionally, global business takes place domestically and internationally through trade, transactions, commerce, and the exchange of products and services. Global business also relates to individual business entities resulting from that local entity exchanging products, services, or capital with an entity from another nation. The exchange is a part of global business due to an international transaction. Essentially, a business that often partakes in international transactions qualifies to be a global business. Important factors to consider in global business are the geographical scope in which it operates, understanding of the cultural influences that will affect marketing, taking account of market factors such as foreign exchange rates, and management practices of global business. Major Article Summary The study of business ethics research on a global perspective provides more information on global business and the ethics involved. The findings include that global business ethics became a popular and important mechanism for building better business practices internationally between different countries. In addition, The United States remains the top producer of business ethics research to help others develop globally in business (Chan et al., 2016). The article Global Competitiveness and Local Business Development written by Ashley Zuelke (2016) focuses on the global competitiveness and local business development in the U.S. the topics discussed include the aspects of the association between export trade and economic development including concepts considering expansion and job equality, the roles of Economic Development Organizations, and the state’s approaches which focus on the development and growth in the international trade (Zuelke, 2016). Global Oceans Governance: New and Emerging Issues written by Campbell et al., (2016) provides information on the
  • 7. increased interest in oceans leading to new and renewed global governance efforts directed toward ocean issues in areas of food production, biodiversity conservation, industrialization, global environmental change, and pollution. A review of new and emerging issues in global oceans governance is given contemporary interest in oceans with global business in mind. Essentially, interest is driven by both recognition of the economic potential of oceans and its development opportunity, as well as the role in global environmental processes (Campbell et al., 2016). Institutions, Principles and Judgement: The Relevance of the Natural Law Tradition For Articulating Business in a Global Context is an article written by Ana Marta Gonzalez (2015) that argues the relevance of natural law for framing and addressing ethical issues raised by the practice of business in a global context. The article further mentions that the classical natural law is seen as the law of practical reason which leads to cultural realizations of humanity and results in stimulation of personal and common good as well as sustainable development globally (Gonzalez, 2015). Authors Jimenez-Sanchez Gerardo and G.J. Scoles (2015) wrote an article on Genomics which is the study of genes and their roles in inheritance. In addition, genomics has generated assets to propel innovation and address global challenges such as human health, food security, energy source, and environmental sustainability (Jimenez-Sanchez & Scoles, 2015). Genomics plays a major role to meet bioeconomic agendas and local needs. The innovation contributes to global business due to individualized, predictive, and preventive medical practice beneficial to countries. Discussion A. The articles I have focused on relate directly to global business as the information pertain to conducting business on a global scale. The articles mention the difference between global and domestic business management observed in a nation’s culture. Also, the differences between a domestic
  • 8. business and a global enterprise include domestic businesses operating at the locally, where a global enterprise operates within foreign cultures. In essence, the work mentioned also considers the market factors in global and domestic business management. The market factors include demographic, sociologic, and economic forces that varies from regions. Global business is a broad topic that relates to the articles as they contain information about conducting business internationally and the methods used to do so. The articles directly relate to the assigned work resulting in the discussion of international business and the means to conduct transactions globally. B. All the articles that I have researched tie directly to each other as they all have the conduct of global business in common. Consequently, all the articles have the central theme of the development of business among different countries and what tools lead to a nation’s growth. Conducting global business will help improve any type of economy due to acquiring resources that are needed to increase and drive growth within a nation. International business will always be a factor since everything we have or acquire are a result of global trade and exchange between different nations. In conclusion, the study of global business is important as it will always be a topic that we deal with due to the fact that our country, as well as others, depend on it. Response 4 Key Term and Why You Are Interested in: It I chose the key term Operational Risk because of my current position at work, where I work in operations management. Within my work, I help to implement processes, and work to improve operational processes. With all processes, there are risk of failure. If they
  • 9. fail, there could be a loss to the company. If time is lost, then that will affect the bottom line or reduce forecasted yields. I am interested in diving into this topic further to gain a further understanding of operational risk. I sometimes get focused on how operational risk may affect my portion of work and I don’t look outside of my personal work functions. There are much broader aspects of operational risk, and I believe this research will help me to have a better understanding of those risk. Explanation of the Key Term : In any business, there is an operation department that makes that business work and function. In my work experience this is the backbone for any business. Operations brings the product or service from conception to delivery in the marketplace. Generally, it is made up of lots of moving parts and individuals within that department. Operational risk is the potential for business loss. If something is not done correctly, or does not function properly, then the operations of the company could be at risk. Essentially the company will lose money or will not make the expected profits, if the risk is realized. Risk management allows for corporate governance over a business and helps to assure proper return to shareholders (Croitoru, 2014). In my current function at work, it is my job to forecast potential operational risk, and help to mitigate those risks. Major Article Summary: In the article, Measuring and Managing Operational Risk, written by Samir Shah (Shah, 2002), the author notes that risk managers are searching for means and methods to measure and manage the risk of operations. Two characteristics of operational risk were presented; specific and dynamic risk (2002).The first risk characteristic would be the risk that is specific to the business. For instance, the type of business will determine what type of employee or process the company may have or need to prevent risk. The type of industry will give indications as to what historical risk there would be in that type of business. For example, a construction company will need construction workers that are safe operators. History would let us know that there is high risk with construction workers across
  • 10. the construction industry. Knowing what the risk is, will help the company to plan for those risks. The second risk characteristic is dynamic risk, or the changing risk. Company processes may change or evolve over the course of time. Organizational structure, leadership or ownership may change with the hiring or firing of leadership, or sale of stock by an owner. Corporate culture may change as well. Some companies may have had a strong focus on giving back to the community and not so much on large profits. If that dynamics of the company changes and the company begins to focus on profits, the culture may change. With this change, the employees may not the same fit within the organization. The risk manager must consider that if the change is made, will it affect the company, and is the risk worth the change. The article suggests that in most cases, risk modeling is helpful to identify and prevent risk occurrence (2002). Risk can be found by historic review of the company, or industry data. Other methods include expert input. Many companies use combinations of both methods to help in the efforts of identifications (2002).The author explains that risk modeling is an ever-changing practice. Computerized risk modeling software is changing everyday as technology improves and more historic data is logged. This is very helpful for operational risk management and allows lessons learned from the past to be used in the current and future states of operational risk. What is risk? Risk is the potential for something to happen in the future. Most businesses focus on adverse future risk and look to mitigate that risk prior to it happening. Operational risk managers must look to identify risk impacts and the chances of the risk to occur (Prokop, & Pfeifer, 2013). At the beginning of the research I had an idea of how operational risk applied to my job, but did not have much further information. After researching this subject further and reading the article I was intrigued by the history of operational risk management, and its evolution. The article was very helpful for me to see the two key ways to determine risk. I will now be able to subdivide risk
  • 11. as specific and dynamic risk. Prior to this research, I had not given any thought to modeling or looking for software to use in risk management. Currently I log lessons learned to obtain historic data, however software may help to lessen, the lessons learned. Something I did not expect to learn when I chose this key term. The article researched focused on two key aspects of operational risk and how to help manage that risk. Other works researched went into more specific types of business. For instance, the article Operational Risk Modeling and Management takes the approach that operation risk is a key function in financial and banking businesses (2014). Risk such as these are looked at heavily by bank regulators. Regulations are implemented to limit risk in banks. Another article went into far more broader aspects for operational risk and key risk indicators (Andersen, Häger, & Vormeland, 2016). This article stated that KRI’s should be relevant, measurable, predictive, easy to monitor auditable and comparable (2016). In comparison, the feature article only focused on two aspects of risk, those aspects can be applied across the board to all businesses. Response 5 WTO Key Term and Interest For this week’s forum, I chose the World Trade Organization. This key term interests me because having been in the U.S. Navy and traveled different countries, has given me greater academic curiosity as to the different aspects that make up the World Trade Organization and its multinational involvement. It also intrigues me that this one organization has been key in developing better trade relationships between nations, despite all the different cultural, economic and business characteristics of each region. However, the World Trade Organization’s focus in regards to the resolution of disputes between nations has also played a part in cultivating trade cordialities. Explanation of Key Term Established in 1992, the World Trade Organization assists in the
  • 12. formation of trade agreements between nations by instituting fair trade negotiations that deal with laws, policies, and various barriers to trade (World Trade Organization, 2017). However, when disagreements arise between countries, the World Trade Organization steps in to legally minister ongoing issues and helps to diffuse matters affecting all parties involved (World Trade Organization, 2017). As of today, the World Trade Organization has 164 participating countries and encompasses 16 distinct multilateral trade contracts and two plurilateral trade contracts between all member nations (World Trade Organization, 2017). While all nations are not fully developed, the World Trade Organization is continually fostering initiatives for undeveloped countries into becoming members to further progress international free trade (World Trade Organization, 2017). Major Article Summary In their article, “What Is Litigation in the World Trade Organization Worth?”, Michael M. Bechtel and Thomas Sattler (2015) examine the effects of litigation processes in the World Trade Organization, and thus, involving principal, third, and neutral participants. As part of their research, Bechtel and Sattler analyzed several World Trade Organization disputes along with data corresponding to economic power, conflict, joint democracies, trade flows and trade variables that constitute why some nations take part as principal parties in forming disputes (2015, p. 388-391). According to Bechtel and Sattler, past research has brought into question the reliability of the World Trade Organization’s dispute systems, and whether small undeveloped countries have the same amount of legal standing against wrongful countries, as do major ruling countries (2015, p. 376). Their study suggested that due to not having enough legal, monetary, and influential resources, small undeveloped countries are more likely to enter trade disputes as third parties or remain neutral (Bechtel & Sattler, 2015, p. 376). Bechtel and Sattler’s study proved that by entering dispute panels as third parties, poorer countries profited greatly
  • 13. in terms of trade exports through the principal party’s legal efforts against the accused country (2015, p. 382, 395). However, by remaining neutral, poorer countries benefited by observing the outcomes of the dispute panels, acquiring legal understanding of the World Trade Organization’s procedures, and gained clearer advantages to further their own complaints in the future (Bechtel & Sattler, 2015, p. 384, 397-398). Though regardless of the position that a nation takes during a dispute, there are consequential spillover effects in which not only third party countries benefit from, but surrounding communities tend to have advantages from the rulings also (Bechtel & Sattler, 2015, p. 398). Hence, according to Bechtel and Sattler, there was substantial evidence that the World Trade Organization’s dispute systems have positive results on eliminating barriers to trade, fostering economic growth and improving exports for both undeveloped and developed nations (2015, p. 394). Discussion of Cited Works Bechtel and Sattler’s article relates to the World Trade Organization because the dispute process is a major component of the organization. When countries do not agree, or have trouble entering into trade agreements, the World Trade Organization is the mediator through which both nations can come into contracts with one another. The process in which the World Trade Organization uses is called the International Centre for Settlement of Investments Disputes (ICSID) and all international members can partake in legal issues. This article also relates to all other 4 scholarly articles because they all pertain information concerning the World Trade Organization and the dispute resolution mechanisms.