Official Written Guidelines for Behaviour in Situations Susceptible to the Creation

question 12

Multiple Choice

Official written guidelines for behaviour in situations susceptible to the creation of ethical dilemmas are referred to as the organisation's formal:

• A) employee mandate.
• B) management guidelines.
• C) codes of ethics.
• D) corporate social responsibility.
• E) employee handbook.

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Definitions:

Dominant Strategy

A Dominant Strategy is a game theory concept where a player's best course of action remains unchanged regardless of what the opponent does.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal given the strategies of other players, leading to a situation where no participant can benefit by changing strategies while the others remain constant.

Maximin Strategy

A decision-making strategy used in game theory and economics where the player seeks to maximize their minimum payoff, accounting for the worst-case scenario.

Dominant Strategy

In game theory, a strategy that always results in the most favorable outcome for a player, regardless of what the opposition does.