Business leaders shouldn't use every relevant opportunity to stress the importance of business ethics and make sure that key business decisions not only make good economic sense but also are ethical.
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- What are the most important ethical considerations that managers must take into account when making business decisions, and how can they balance competing priorities and obligations to ensure that their actions align with their values?Management accountants must try to implement systems that are acceptable to budget stakeholders to produce positive effects. Now, as a management accountant, choose three (3) negative attitudes, explain them and write your recommendations on how you will address these negative attitudes from a management’s perspective. It could either be a policy that the management will implement or an action that will be undertaken by management to counteract the negative attitude.How can one make sure that all stakeholders are given due consideration in making business decisions? Is there a practical way to ensure this?
- Using an example, explain the statement "every business decision is at the same time a moral decision."THE RIGHT TO CHOOSE?! After months of struggling to stay afloat during the pandemic and as people are returning to work in person, companies are grappling with the new challenge of whether to require workers to get vaccinated. Some companies, faced with the prospect of liability issues and out of concern for health and safety, decided to attempt to force their employees to get vaccinated if they want to continue working or return to the office. Some experts are calling on employers to make it mandatory.(a) Is it unethical for private businesses to refuse to continue to employ or serve unvaccinated individuals? Why?(b) Is it Illegal? Is whether an action is legal or illegal a determining factor for whether certain actions are ethical?How do the terms business ethics and social responsibility differ from each other? Multiple Choice Business ethics concerns the impact of the entire business's activities on society, whereas social responsibility relates to an individual's decisions that society evaluates as right or wrong. Business ethics is a broader concept, whereas social responsibility is a narrower concept. Business ethics and social responsibility can be used interchangeably because they mean the same thing Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility concerns the impact of the entire business's activities on society.
- Suppose your city is debating a change in policy from illegal use to legalizing recreational use of marijuana and cannabis products. Your local officials ask you to identify the appropriate aspects required to perform a cost- benefit analysis of this policy change. Using the principles of cost-benefit analysis, your local officials need help in identifying and understanding the benefits to consumers, the benefits to producers, total costs to consumers, total costs to producers, total costs from possible externalities, opportunity costs, incommensurable effects and intangible effects. For simplicity, dynamic time effects, which involve discount rates, are ignored. Following the principles of cost-benefit analysis, are the possible positive health effects (a positive externality) accounted for in cost-benefit analyses? O No. The health effects do not factor into cost-benefit analysis. O Yes. The health effects should be estimated but are a transfer and thus ultimately do not count…It is! With ethical questions in business, you can weigh different factors and consider: How the decision might affect the common good of society at large and the greatest moral virtues: prudence, temperance, courage, and justice. How the decision might affect our stakeholders and profitability; whether the decision is consistent with our company's values; and how the public would react if they found out about our decision.i need this with explanation in own words not copy Utilitarian’s theory suggests that ethical action is one which promotes the greatest good for the greatest number of people. Describe different ways of defining what is good for people and explain how these might relate to the practical application of utilitarianism in business scenarios?
- use the article Pollution Abatement Spending and Corporate Profitability from your reading this week which describes a business problem that might be encountered by a contemporary manager. This case study includes a solution to this problem using one of the management science tools you have been studying. The format of the solution you have read is what a manager might expect to see as the output of a computer program designed to solve similar problems. On the basis of the information provided and your own research: Explain the nature of the problem you have read, including why this problem is important. Explain the tool that was used to solve the problem. Introduce another tool that you think could have solved this problem Detail the potential benefits and the potential drawbacks and dangers of using management science techniques to solve the problem. Summarize the solution provided to you and present a detailed plan for applying this solution in this scenario. Thoroughly justify…Contrast the deontology and consequentialism approaches to ethics in business decision making to benefit the company, customers and society as a whole.Utilitarian’s theory suggests that ethical action is one which promotes the greatest good for the greatest number of people. Describe different ways of defining what is good for people and explain how these might relate to the practical application of utilitarianism in business scenarios?