Answers to Chapter 1 Exam

Answers to Chapter 1 Exam - Answers to Chapter 1 Exam –...

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Unformatted text preview: Answers to Chapter 1 Exam – Essay Portion: Kitchen Appliances, Inc., markets a product that is capable of seriously injuring consumers who misuse the product in a foreseeable way. Does the firm owe an ethical duty to take this product off the market? What conflicts might arise if the firm stops selling this product? ANSWER: Ethical behavior can sometimes generate sufficient good will to warrant practicing it out of a desire for increased profits. By the same token, unethical behavior can sometimes generate enough bad publicity to warrant avoiding it out of the same desire. A business firm’s activities that are perceived as ethical and receive wide publicity can benefit the firm’s owners in the short run-and even in the long run if the firm’s enhanced public image continues to attract more consumers to its products. There is nothing unethical about making a profit. It is the behavior that generates the profit that can be questionable. Business ethics thus has a practical element. A business firm should act in its best interest. Business ethics thus has a practical element....
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Answers to Chapter 1 Exam - Answers to Chapter 1 Exam –...

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