Marilyn Has Decided to Use the Three-Step Model Discussed in the Text

question 198

Multiple Choice

Marilyn has decided to use the three-step model discussed in the text to decide whether a business decision she is contemplating is ethical or unethical.What is the third step in the process?

• A) Reflect on her own ethical standards as background for the decision.
• B) Gather the relevant factual information.
• C) Consult with her boss about the situation.
• D) Make an ethical judgment about the rightness or wrongness of the situation.
• E) Determine the most appropriate moral values.

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Definitions:

Economies of Scale

Economies of scale occur when increasing the production scale leads to a decrease in the long-term average costs, often due to more efficient use of inputs.

Exclusive Franchise

A legal agreement granting one party the sole right to sell or distribute a company's products or services in a particular market area.

Conglomerate Merger

involves the combination of firms that operate in unrelated business areas, aiming for diversification and reduced business risk.

Distinct Industries

Different sectors of the economy that produce different types of goods or services, characterized by unique products, markets, and production processes.