maximum profits.docx - Running head MAXIMUM PROFIT AND...

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Running head: MAXIMUM PROFIT AND ETHICAL BEHAVIOR Maximum profit and Ethical Behavior Student Tutor Institution Date
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MAXIMUM PROFIT AND ETHICAL BEHAVIOR 1a) Contract bidding There are a lot of things that a contractor needs to take into consideration when bidding about a specific business. Typically, the contractor thinks about the best interest of the market and the benefits it promotes. Therefore, the contractor needs to be well informed about the optimal bidding price of the task. Optimal bid price can be described as the maximum price that is likely to ensure adequate contributions and profits for the company. Contractors always make the vital decision in making bids to ensure that the business gains maximum benefits and advantages. There are possibilities of a contractor missing a chance in the market especially when the requests are too high. It becomes a challenge to the contractors since they have to bid very low and this will make the business or the company to lose money at the end. It requires a balance between offering too small and too high, and this scenario is called goodwill. The situation typically happens in a business that has the aim of building a reputation and making some gains in the future market (Baesens, 2018). When a contract is awarded, and a builder does a good job then the client will be satisfied, and the contractor is likely to be recommended to do the next post. I had a good example that applies to me is when I got a chance to buy a Range Rover from a dealer. It was a used car, and I was fully aware of the risks that are involved in purchasing a second-hand car. I knew the dealer before to be a reputable person. Unfortunately, the car had some technical issues, and the technician failed to notice them. When I informed the dealer, he went ahead and fixed everything, and he cut off some cost. They did all this because of the goodwill. They also had a reputation to build since they are the best dealers around and they went ahead to prove it to me as
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MAXIMUM PROFIT AND ETHICAL BEHAVIOR their customer. After some time I decided to refer my friend to the same dealer to purchase a
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  • Winter '19
  • ISAAK
  • Ethics , Business process modeling

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