. Successful firms generate long-term profits by delivering unsurpassed value to their customers. A) True B) False Points Earned: 2.0/2.0 Correct Answer(s): True Correct Incorrect Ungraded 2. A firm will experience a loss when its revenue is less than its expenses. A) True B) False Points Earned: 2.0/2.0 Correct Answer(s): True Correct Incorrect Ungraded 3. Business will incur a profit when expenses are higher than revenue. A) True B) False Points Earned: 2.0/2.0 Correct Answer(s): False Correct Incorrect Ungraded 4. Profit is the money that a business earns in revenue, minus investments, and the cost of salaries. A) True B) False Points Earned: 0.0/2.0 Correct Answer(s): False Correct …show more content…
Good friends, Ben and Josh, are working on a team assignment in statistics. They had planned to work on the project last night, but Josh called at the last minute saying he had a conflict. Ben ended up doing all of the work. The instructor is giving each student the opportunity to critique the effort of his or her partner. Ben knows Josh needs the points on the assignment in order to pass the course and would like to keep Josh as a friend. If Ben decides to say that Josh deserves equal credit, he would be using relative ethical standards. A) True B) False Points Earned: 0.0/2.0 Correct Answer(s): True Correct Incorrect Ungraded 22. Business ethics is the application of right and wrong, good and bad in a business setting. A) True B) False Points Earned: 0.0/2.0 Correct Answer(s): True Correct Incorrect Ungraded 23. A question to ask when making a decision based on individual ethical beliefs is: could you defend your decision on the nightly TV news? A) True B) False Points Earned: 0.0/2.0 Correct Answer(s): True Correct Incorrect Ungraded 24. In order to make ethical decisions, it is helpful to think about several questions, including: 1) who will be impacted by the decision, 2) who will benefit from the decision, and 3) who will suffer from the decision. A) True B) False Points Earned: 0.0/2.0 Correct Answer(s): True
The last step in making a moral decision is simply making the decision. How one arranges the issues and arrives at this decision depends on one's particular set of values and cultural perspectives, but regardless the values and cultural perspectives of the decision maker, the rights and duties remain the same for any situation. One must learn to look for and identify the appropriate deontological factors. Once these factors are identified, one may use his/her own values in order to determine which factors are the most important. By applying these unique values, one is able to develop the final decision.
It is important to understand that ethics is not equal to personal emotions. Therefore, ethical decision making should be void of personal feelings. Moreover, an ethical action is that which protects and respect the moral perspectives of those affected. Indeed, ethical approaches help to determine the standards of behavior that constitute a common good for the human
Now, let's see how learning about the Four Ethical Lenses and a simple method for decision-making can help you resolve a typical ethical dilemma. Ready?
5. How many perspectives are used by leaders to think about an ethical problem to determine the most ethical choice? 3
Identify whether the issue is an ethical dilemma. It must first be determined an ethical dilemma or not in order to move on to the next step.
When we make a decision, we determine whether something is morally or immoral based on our personal VABES. There may be nothing ethically wrong with the situation but a person may feel that it is goes against their personal morally values based on their personal VABES. Ethics are established based on acceptable behaviors for groups and individuals (Clawson, 2012). People base what they consider to be ethical off of their VABES and understanding of what is right and wrong. A person determines whether an act is ethical based off their values and beliefs that they have developed a for a lifetime. When making any decision the person must have a clear understanding of whether not it is an ethical or non-ethical decision and if it goes against their beliefs. Legality is another important part of decision-making any concerns individuals abiding by laws put in place by society (Clawson, 2012). Whether something is legal or illegal is very important when making a decision. When a person finds it unethical or morally wrong to commit an illegal act is based off their VABES. In any decision, a person must consider whether an act or decision will go against their ethical beliefs. They must also consider whether it is important and matches their personal
Business Ethics is a set of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from
Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.
Evaluate the choices faced by Steve Lewis, Peter Adario, and Eduord Sakiz (in Badaracco’s article) from the standpoints of the generalizability, utilitarian, and virtue ethics tests.
Make a decision and support this decision using one or more ethical models in the textbook and/or ethical models discussed in class.
THIS AGREEMENT (the “Agreement”) entered into this ________ day of __________ 2017 by and between JAVA GROUP CO. (hereinafter referred to as the “JAVA”), and MEMORIAL HEALTHCARE SYSTEM d/b/a SOUTH BROWARD HOSPITAL DISTRICT, (hereinafter referred to as the “MEMORIAL”).
In this paper, I will select an organization and prepare a strategic plan to grow the business over the next three years. This strategic plan will include certain criteria. That criteria includes:
To make an ethical decision, it is necessary to perceive and eliminate immoral options and select the best and ethical alternative. It is a process of choosing the best ethical option among the alternatives.
ENDEERING DAY SPA MARKETING PLAN The Endeering Day Spa is a full-service day spa dedicated to consistently providing high customer satisfaction by rendering excellent service, quality products, and furnishing an enjoyable atmosphere at an acceptable price/value relationship. We will also maintain a friendly, fair, and creative work environment, which respects diversity, ideas, and hard work. Market research indicates a specific and growing need in the area for the products and services Endeering Day Spa will offer in the market it serves. This market strategy will be based on a cost-effective approach to reach this clearly defined target market. This approach will utilize resources to create awareness of the spa and encourage customers to
This is considered to be a profitable business because of its high demand and huge number of cars in Lahore and long-term reward (profit). Our Business is proposed to be established at Bahawalpur Road, Mozang, Lahore. Our Equity/ initial investment will be PRs. 60, 00,000