When Making Decisions,managers Often Have to Decide Between Doing What

question 56

Multiple Choice

When making decisions,managers often have to decide between doing what is beneficial for them (and possibly the firm) in the short run,and doing what is right and beneficial for the firm and for society in the long run.To address this conflict,a firm

• A) must evaluate its quarterly profit statement from an ethics standpoint.
• B) must state its long-term goals in general terms,so as to not interfere with managers' short-term goals.
• C) must always put society's needs ahead of the firm's needs.
• D) must ensure that long-term goals of the firm are aligned with the short-term goals of each individual within the firm.
• E) should adhere rigidly to legal standards in its industry.

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Definitions:

Observing Nature

The act of paying close attention to the natural environment, often to understand natural processes or for relaxation and enjoyment.

Theory

An explanation using an integrated set of principles that organizes observations and predicts behaviors or events.

Integrated Set

A combined or unified group of elements or components that function as a whole.

Observations

The process of closely monitoring something or someone in order to gain information.