Why Is It So Important That Managers, and People in General

question 68

Multiple Choice

Why is it so important that managers, and people in general, should act ethically and temper their pursuit of self-interest by considering the effects of their actions on others?

• A) Because giving excessive importance to oneself with no consideration of societal interests leads to disaster for each individual and for the whole society because scarce resources are destroyed
• B) Because ethical issues are seldom clear-cut, since the rights, self-interests, goals, and incentives of different stakeholders often conflict
• C) Because a manager has no reluctance about communicating an ethical decision to people outside the company since the typical person in a society would think it is acceptable
• D) Because if all companies make the right choices, all stakeholders will benefit in the long run

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Definitions:

Idea Generation

The procedure involved in generating, advancing, and distributing innovative ideas or solutions.

Implementation and Diffusion

The process by which new ideas, practices, or technologies are put into use and spread across various sectors or communities.

Innovation Process

The sequence of activities involved in the development and implementation of new ideas, products, or services.

Identifying Advantages

The process of recognizing or discovering favorable factors, benefits, or conditions that give an individual or organization a competitive edge.