Read Robert C. Solomon's article It's Good Business on pg. 36 of the Essay

Read Robert C. Solomon's article It's Good Business on pg. 36 of the 11th edtion. Summarize, do you agree or disagree with Solomon's position Why or why not Give examples to support your claim - Essay Example s can work in favor of a business while providing examples of how businesses fail when they don’t work within ethics are all seen as practical, real life situations that determine the success or failure of a business. The first main point that Solomon points out is to define what ethics means within a corporation or small business. He shows that ethics is one that is needed on all levels of management and ownership and which creates a framework of success for individuals. More importantly, there is an establishment of ethics is not based on what it means to keep a job or to be a successful business person, but to instead develop a mindset that is based on how one works within a community. Solomon states that â€Å"Executives are most effective and successful when they retain their ‘real life’ view of themselves, their position, and the human world outside as well as inside the corporation. Business ethics, ultimately, is just business in its large human context† (34). This particular statement is essential as it defines what ethics means in business. Rather than thinking of it as following business policies and doing what one is told in terms of management, is the need to unde rstand the humanistic element as well as how actions will affect others. This particular point is one that is the foundation of ethics and which shows that the definition of ethics needs to be considered outside of the assumptions made by those who analyze different perspectives. An example of this definition can be seen in almost any business. A personal example is seen from a friend who works within a computer organization. The mindset in which this individual has is to please the boss and to make sure that the work is efficient and effective. The managerial staff as well as the main CEO is interested in how this will create profit for the business. Similar to Solomon’s point, this doesn’t show a term of ethical behaviors. This individual may find a problem with the

Negative Effects of a Monopoly Essay Example | Topics and Well Written Essays - 500 words

Negative Effects of a Monopoly - Essay Example A monopoly reduces consumers’ purchasing power through the increase in the price of services or products. Being the only provider of service or product, the company in power sets the rate at its own will. An example of that is the Pfizer Company, the maker of the Viagra pill, that charged customers a lot because no other pill could be compared to Viagra in effect. Consumers are thus forced to pay a higher price for a service or product that is not actually worth that price. Such system leads to a decline in the standard of living and wellbeing of the society. A monopoly equips the sole vendor to reduce the quality of service or product. As there is no competitor in the market, the sole provider knows that consumers have no option but to purchase the service or product even with a lower quality. The sole provider does not feel obliged to invest much in the business in terms of resources and accordingly, the end product does not measure up to the required standard of quality. A monopoly creates unemployment. As more and more businesses are driven out of the market because of the power of the sole provider, people employed in those businesses become jobless. They either have to regain skills related to another profession or somehow become part of the sole provider. Either way, these jobless people have to go through a lot of emotional, psychological, and financial problems to achieve their destination. Many people with higher skills, hence, have to work at much lower salaries than what would be justified considering their level of education and skills.