Tiffin University Problem Solution Analysis Paper Submitted for Course Number MGT 623 Legal and Ethical Issues in Management Dr. Dave Ibarra By: Lauren M. Middleton October 26th, 2014 Milton Friedman advocates the classical theory of business, which essentially holds that businesses should be solely devoted to increasing profits as long as they engage in open and free competition devoid of fraud. Friedman was an advocate of free market forces, he would recommend that let the market forces operate freely and the executive compensation will reach the right levels. The high performing executives will command higher salaries and poor performing executives will receive lower salaries or simply become unemployed. If …show more content…
A tenet of that theory is that enlightened egoists will recognize that socially responsible behavior will benefit them. Both psychological egoism and the classical theory can be defended by the utilitarian argument. Utilitarianism maintains that any action or system is good if it results in the greatest good for the greatest number of people. A utilitarian would commence by looking at the total utility or the happiness generated by the compensation paid to executives. Now if paying executive compensation by way of stock options leads to misguiding skyrocketing of profits figures and causes financial loss to several shareholders of the company, the utilitarian will propose that the executives should not be compensated by way of stock options. Moral worth lies in contribution to the overall utility. In summary, if, as Smith contended, self-interest is a chief motivator and the invisible hand really works, then as companies seek to maximize profits, the greatest public good will result for the greatest number. Critics of Smith's and Friedman's theories contend that they neglect the need for cooperation and teamwork in society, and that chaos can be avoided only with heavy policing of self-interested behavior. Proponents of the invisible hand counter that individuals will usually pursue cooperation and self-regulation because it is in their own interest. A deontological thinker would say that it is the duty of the
The United Nations is an organization established 24 October 1945. It was a replacement for the League of Nations. The UN was created following the Second World War to prevent another such conflict. The organization is financed by giving its member states a substantial fee. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing humanitarian aid in cases of famine, natural disaster, and armed conflict.
- Ethical egoism: that theory asserts that the morally right action is the one that produce the most favorable balance of good over evil for one self. By taking that decision, she twill think about her first and save her life
Layer 6: Presentation - Layer 6 takes the data provided by the Application layer and converts it into a standard format that the other layers can understand.
Energy keeps all living organisms alive, as they need a continual supply of energy to function in order to survive. Some of these processes are continuous such as, metabolism, which is the chemical reactions which occur in the body, these occur by using or releasing energy from chemical substances. Another continuous process which use energy is the transporting of molecules in order for them to break down, and to build new ones. The breakdown of large molecules into their simpler forms to release energy is known as catabolism, for example, when glucose is used in a cell to release energy. And the opposite reaction, is called anabolism. This is when energy is used to build complex structures from simple cells, for example, tissue growth and
Take each bag of popped popcorn and count the individual kernels that did not pop and record the data on the chart. Perform this for each
Traditionally, nutrition programs were targeted to the indigent and poor populations in developing countries. Many of today's Americans are malnourished also, but they are inundated with unhealthy foods and require a multidisciplinary approach to nutrition education. What would be the three most important points to include in a public nutrition program? Provide current literature to support your answer and include two nutritional education community resources.
How the teacher plans out the lesson and what materials are needed for that lesson must be done in advance and already set out before the lesson begins. The teacher needs to arrive on time to that lesson and be well presented and speak to the children in an appropriate manner. The teacher needs to address the
This document provides outline of the instructional guide for audience of ebay and etsy web sites which enable users to sell their own goods online. The audience of the guide is mostly non-technical users who need detailed instructions to achieve the task.
As humans it's in our nature to to be self-indulgent to fulfill your desires and whim before anything else. so it's only natural that when a men and women to work in a field they enjoy and succeed in that said field. smith states that “ every individual is continually exerting himself to find the most advantageous employment for whatever capital he command. it os his own advantage, indeed, and not that of society, which he has in view. But the study of his own which is most advantage to society”(document2, paragraph2). Smith concludes that men doing pursuing what may help suit their best self-interest inversely helps society. when individuals each trying to best each other in hopes 0f self-indulgent results in innovations, life changing ideas, and marketing which ultimately helps benefit our society
to find solutions to the errors that were found so that a reoccurrence of the same error doesn’t
Thirdly, Adam Smith wrote the most powerful incentive is Self–interest. The reason for this is that people will work harder and more efficiently if they can keep the majority of the earn and he also explained that if governments grow to greedy, they will discourage and wreck peoples confidence from trying create their own wealth. He explained that Self-interest is an unchangeable part of human nature. So he was saying that it is wise for the government to let personal incentives build a richer economy. Smith’s idea was thought to be kind of like Karl Maxi’s Utopia but it is found to be way more sophisticated.
2. Egoism is the consequentialist theory that an action is right when it promotes the individual’s best interests. Proponents of this theory base their view on the alleged fact that human beings are, by nature, selfish (the doctrine of psychological egoism). Critics of egoism argue that (a) psychological egoism is
Cherry, K. (2014). What is Transformational Leadership? Retrieved October 25, 2014, from about education: psychology.about.com/od/leadership/a/transformational.htm
approach (Armstrong, 2003, pp. 217-230). According to both of these theories ‘people only work for