Answers to Questions and Exercises

What principles would you need to be aware of when dealing with the ethical dilemmas in this case study?

Small business are said to be the backbone of the United States economy. It said that small businesses contribute to growth and vitality in the specific area of the United States economic development. Small businesses play a huge role in how the business world is shaped. Entrepreneurs are smart, creative and innovative however, those same entrepreneurs need to have some knowledge that the study of microeconomics focuses on. With the study of microeconomics, their product or future business will succeed in an economic view point.

Although this is a no cost option in the short term, it will cost a lot in the long term. Derek will feel worse in his day-to-day work. Sal cannot keep busy during his retirement. Status quo will not solve the primary problem. Depending on compare pros with cons in the table, it’s better for them to run this business. Showing their talents in business will be an unforgettable experience in their lives. So, this alternative cannot solve the problem.

The mediator would carefully listen to each side, and suggest ways on how to handle this dispute. This dispute should be able to be solved through mediation. The fact that Will and Emma both wanted to hire her again to teach the class when she was able, is a good thing. They made a mistake by firing her, when they should have placed her on maternity leave or something of the sorts. If they explain this to Quinn during mediation and offer some type of compensation, Quinn may be more understanding and want to come to a resolution. Maintaining relationships is one of the major advantages to this method, as well as create creative solutions that are relative to their problem, together. A solution is not impossible, and is actually more likely than not having one at all in this situation.

the partners to come up with somewhat of a middle ground. I see too many good business ruined

Some key contributions of small business in the U.S. economy is that they create new jobs, create new innovations at twice the rate of their big business counterparts, and they tend to find more opportunities than big companies.

You are a valued colleague and friend of this threesome, and they have come to you seeking advice as to how to structure their new business. They have

The financial or economic interest is an important motivating factor for employees; however, when the gap in salaries is high, it could result in dissatisfaction and affect the business economically.

After careful consideration of the relevant facts of this case, my recommendation would be to deny the request of future wage adjustments based upon comparable worth. This recommendation is being made in light of several key factors. The first factor is that under comparable worth, employers would be required to set wages to reflect differences in the worth of jobs, with worth largely determined by job evaluation studies, not by market forces. This sounds good in theory, however, it will put the organization at a distinct disadvantage. According to Ann Barres, “The size of a worker’s paycheck would be unrelated to supply/demand conditions in the labor market.” Therefore comparative worth could artificially inflate wages in some jobs and thereby attracting more people than the market could absorb. Any radical restructuring of pay scales would place an unfair burden on employers by raising their costs, and would unfairly impinge upon their freedom to earn their livelihood as they choose(2). On the other hand if there was a shortage of workers in one job, the employers hands would be tied as they could not raise the wages as to attract more applicants.

Difference between entrepreneurs and business people are entrepreneurs create needs and business people satisfy with needs. An alternate advantage thought this is less apparent is that those Change Agents who are well dealt with consequently emerge as a model of behavior to be trailed by whatever is left of the gathering entrepreneurships are the individual with an exceptional mind-set in order to maximize profit. Therefore their approaches are closely secured to be success. They grab the opportunities that no one noticed ever (Abu-Saifan, 2012). For

2. Ethical Issues in Business. It seems that every day in the news we are hearing of new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings. There are many ethical issues in business. One major issue that we see is over and under reporting net income. Companies like to show that every quarter the net income of the business has an increase or profit. In order to show this they adopt unethical or illegal means in the operation and financial reporting. One such method is the indiscriminate use of stock options for employees that enable companies to take employment costs off balance sheet and inflate earnings. With the recent ethical issues we have

Issue 3: Has Patricia improperly used company information to gain advantage for herself and/or her sister?

The ethical dilemma Bob faces in this case is a transaction that makes Bob question his and the company’s ethics and legal obligations. It’s February, business was slow, the company was $5,000 below their breakeven point, and it appeared as if a

Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).

Small businesses are important to the U.S economy for multiple reasons. According to the U.S Small Business Administration, small businesses represents for 99.7 percent of all employer firms, have generated sixty four percent of new jobs and paid forty four percent of the total united states payroll (Brown, 2017) . Small business is an important role not just in the US economy, but they also play a major role in the growth of the individual community that they are located in. Small businesses give citizens of the community an opportunity for employment by offering jobs that the individuals may not have to have degrees or accolades to qualify for unlike jobs in larger corporations. Although small business is very important to the economy and the community, often times small