The presented scenario in Milton Friedman’s lecture, “What is America?” raises numerous ethical issues as regards to the strategy formulation and day-to-day operations of business as well as social sphere. An ethical approach to business is vital in determining the corporate success and a positive corporate image. There are concerns of business ethics revolving around […]
Introduction The growth and development of any business is highly determined by its business environment. Business environment in this case refers to all internal and external aspects that impact a business. Internal factors are basically organizational based. They may include aspects such as ownership, management, culture, organization structure, and operation value among others. External factors
When designing their products, organizations are expected to ensure that the new item will not be harmful to human beings once it is ready for use. However, many companies ignore this fact and continue to sell products that are harmful to human beings, so long as they are able to generate profits from them. For
Chapter 1 In diverse functions, law has diverse meanings. In USA, law is defined as any rules or regulations whose breach subjects those breaching it to specific civil liabilities or particular criminal punishments. It is also defined as the set of conduct rules with obligatory legal effect, as well as force, recognized, prescribed, and implemented
Alternative Work Arrangements In the recent past, alternative work arrangement concept has gained popularity among businesses. Many organizations are now focused on employee needs and have shifted from the standard work week system to more flexible work arrangements that allow workers to create a balance between work and their daily lives. Examples of alternative work
Organizational Culture A collection of policies, values, attitudes, and beliefs that constitutes everything an organization does is known an organizational culture. Even though some of these values and policies may directly be observable, it may be difficult to identify those measures that assist an organization to manage its culture effectively (Bauer and Erdogan, 2011). According
Provide some examples of specialized markets or retail outlets. What makes the Web so conducive to specialization? Introduction Specialized markets or retail outlets specialize on a particular individual product without deviating to other products (McEachern, 2012). The specialized markets may be dealing with clothes only or crops like wheat only. As a result, one who
Suppose you go to a restaurant and buy an expensive meal. Halfway through, despite feeling quite full, you decide to clean your plate. After all, you think, you paid for the meal, so you are going to eat all of it. What’s wrong with this thinking? Introduction A sunk cost stands for the cost incurred
When it comes to perceiving justice in the society, then we have to employ certain ideologies that will guide us in having a basis on the rightness and wrongness of deeds. Well, some things are very obvious for us, but when it comes to explaining the meaning of justice, I admit it is an overwhelming
Introduction Maximizing the expected benefit is important for every option that a person chooses. People do various things to benefit themselves and, as a result, benefit those affected by their choices. In all activities the issue of cost is mostly considered to ensure that the person carrying them out is achieving his or her goals