Explain What Is Wrong with the Following Statement: "It's Not

question 8

Essay

Explain what is wrong with the following statement: "It's not fair that firms profit so highly in an industry that benefits from new, cost saving technology; they should have to immediately pass cost savings directly on to the consumer."

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Definitions:

Society At Large

A broad term referring to the general public or the greater community beyond specific groups or sectors.

Ethics Code

An ethics code is a set of principles and rules designed to guide the behavior and decision-making of members of an organization or profession.

Human Resource

Refers to the department within an organization that is responsible for hiring, training, compensating, and maintaining policies for the employees.

Archie Carroll

An academic known for his work in corporate social responsibility, including the pyramid model that outlines the responsibilities of businesses.