Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 8.1, Problem 1MED
Summary Introduction

To determine: The consequences of not paying attention towards the environment and safety rules.

Introduction:

Ethics refers to the moral principles that define what is right and what is wrong. Ethics are different for every individual. One thing that is right for one individual may not be right for other individual.

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What is the relationship between Ethics and Business? Please use examples from current events as it relates to business, economics, and society. Is ethics necessary for leadership or is leadership necessary for ethics?   Why do we need to be able to convincingly explain why something should be viewed as right and fair?
5. What is the impact of business ethics to society in general? 6. Why is there a special need for Ethical Behavior by Professionals? 7. Explain whether the following statement is true or false. "Responsiveness usually results to effectiveness and efficiency". 8. Explain how business managers could act ethically 9. If you are a CEO, how can you handle politics within your organization?
.Assume that you are a high level manager for a shoe manufacturer.  You know that your firm could increase its profit margin by producing shoes in Indonesia, where you could hire women for $40 a month to assemble them.  You also know, however, that a competing shoe manufacturer recently was accused by human rights advocates of engaging in exploitative labor practices because the manufacturer shipped shoes made by Indonesian women working for similarly low wages.  You personally do not believe that paying $40 a month to Indonesian women is unethical, because you know that in that impoverished country, $40 a month is a better than average wage rate.  Assuming that the decision is yours to make, should you have the shoes manufactured in Indonesia and make higher profits for your company?  Or should you avoid the risk of negative publicity and the consequences of that publicity for the firm’s reputation and subsequent profits?  Are there other alternatives?
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