What Is Moral Hazard and How Might It Manifest in an Employment

question 64

Essay

What is moral hazard and how might it manifest in an employment relationship? What can an employer do to reduce the problem of moral hazard?

Understand the role of a feasibility study in the business planning process.

Identify the importance of market analysis and competitive analysis in a business plan.

Recognize the significance of conveying business weaknesses and strategies to overcome them.

Differentiate between the Business Model Canvas and more traditional business planning documents.

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Definitions:

Explore

To investigate, study, or analyze with the intention of discovering new information or understanding something more thoroughly.

Cultural Adaptation

The adjustment process individuals undergo to integrate with or accommodate themselves to different cultural practices and settings.

Business Practices

Customary methods or procedures in the conduct of business activities.

Socialize

The process by which individuals learn the norms, values, and practices of a social group to integrate and function within it.