Answer: • Sole proprietorship: A sole proprietorship is a business owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business. • Partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership. There are
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“Scope of Business Organization” Section A Mr. Akram is working as Management Training Officer Grade II in Habib Bank Limited. He has joined the bank two months ago against a contract of 5 years. The terms of this contract states that if he resigns from this post before 5 years then he is required to refund a sum of Rs. 500‚000 and all the training fees. His father Ansar Ali is running an auto workshop from the last 40 years. One day his father faces an accident and dies. Being the only son of
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January 14‚ 2013 Ethical Behavior in Business In the business world employers and business owners should know that there is no room to be dishonest‚ or greedy dealing with a business. In reality people need to be held responsible and accountable for making sure that they are holding up and following ethical business practices. There is no reason that any business owner or manager should not follow the golden rule at work just like they would at home‚ treat people the way you want
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Engineering Mälardalen University 2007 PROFESSIONAL ETHICS IN SCIENCE AND ENGINEERING CDT409 GAME ETHICS 2 Video Game Violence Ethical Issues Based on: Kim Anttila & Thomas Larsson’s materials 3 Overview An increasingly popular leisure activity Examples of game violence Research results on game violence Effects on individuals and society Ethical principles Whose responsibility? Family‚ society‚ game industry Conclusions 4 An Increasingly Popular Leisure Activity
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Standpoint Theory Paper Racism is defined as the systematic subordination of certain racial groups by those groups in power . As a society‚ we must first eradicate ignorance in order to defeat racism. We must acknowledge that people have different ways of viewing the world and that even though someone may have a different opinion than you‚ it is not necessarily wrong. The idea that people have different ways of viewing the world stems from standpoint theory. Standpoint theory is based on the
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Consider what reasons and rationalizations Maureen is likely to encounter if she decides to bring the problem to light. Maureen as a cautious manager‚ feels the responsibility to speak about the “value conflict” issue. Being in the middle of the organizational structure‚ she has to implement her voice to the senior management and to her colleagues. Raising the issue to the senior management‚ considering the high cut cost‚ she may face rationalizations for continuing the unethical process
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Ethical Situations in Business Competency 310.2.1: Ethical Issues in Business Business Management / October 2012 Abstract This essay examines the ethical and socially responsible courses of action in a given business situation. Company Q is a small local grocery store chain located in a major metropolitan area. They have recently closed a couple of stores in higher-crime-rate areas of the city‚ reportedly because these two stores were consistently losing money. After years of requests from
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Social Networks: For or Against? Introduction Over the years there has been a dramatic increase in the use of social networking sites such as: MySpace‚ Twitter‚ Facebook and many more. “Starting out as an easy way of communication‚ social networks have accelerated their pace towards transforming our lives.” (Livingstone‚ S. 2008) Social networks are an effective and cost free way to allow people who are registered to share: interests‚ beliefs‚ real-life experiences and general social interaction
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supreme end of his/her actions. Thomas Hobbs and exponent of egoism portrayed as rational self interested and calculating. This view is often referred as psychological. Hobbs regarded people as predatory he felt that morality was to avoid conflict. Ethical egoism emphasizes everyone ought to act out of self interest in terms in achieving selfish ends in terms of the survival of the fittest in a society. Future more apparently unselfish or altruistic may still be an interest of the individual and can
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Introduction Enron provided the perfect example of how mismanagement and greed‚ culminating in an unethical business environment‚ can result in the collapse of a seemingly secure organisation (Wang & Murnighan‚ 2001: 279-280). This paper will illustrate how the cultivation of an organisation’s ethos is often vastly dependent on the examples set by top management. Therefore‚ in order to foster an ethical culture successfully‚ the conduct of these members is key. Through the use of Schein’s primary mechanisms
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