BIOL-Discussion Assignment Unit 66

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Discussion Assignment Unit 6 Please read the case study “Ethics Across Time and Cultures: Falling Out of the Middle Class” from the chapter 8 of the Business ethics textbook that you find in the reading assignment. Based on what you have learned in this unit, answer the following questions: 1. Does a company have an ethical duty to find a balance between remaining profitable and paying all workers a decent living wage? Why or why not? Yes, a business has an ethical duty to find a balance between maintaining profitability and providing its workers with a respectable living wage. It is sufficient justification to give someone a respectable income for their decision to choose to work for a company forty hours per week. Additionally, workers who earn a livable wage are considerably more likely to be productive since they are healthier, more motivated, and less inclined to leave their jobs. Lower turnover rates translate into lower costs for hiring and training new employees (Fauver et al., 2018). Customers are becoming more and more conscious of the working conditions of the people who make the products they buy, which benefits the company's reputation. 2. Who decides what constitutes a fair wage? Typically, employers give their employees what they feel they are entitled to. Even if a minimum wage is set, most businesses decide to pay their staff more based on how well the business is doing. Furthermore, no sane individual, regardless of gender or political affiliation, would dispute that workers have a right to decent remuneration, according to Byars and Stanberry (2019). The definition of a fair may be the subject of a public discussion. These differences are the result of variables that come into play during calculations, including federal and state minimum wages, cost of living, and inflation rate. After defining what constitutes fair compensation, the government is in charge of putting it into action. For instance, the USA government, through the Ministry of Labor, participates in setting and enforcing the minimum wage. 3. How would you explain to a board of directors your decision to pay entry-level workers a higher wage than required by law? I would create a report that would support my idea before submitting it to the board, including daily, weekly, and quarterly sales as well as other financial data like costs, gross, and net. I would then consider

the significant impact and financial implications if they were raised. That is therefore my justification, along with the economic and financial current flow, including the purchasing power, which would guarantee an effective process; less poverty means more income pouring into people's life; and how they would benefit the company. Analysis of accounting records, staff competency and capability, community currency, and development projections—if such changes were made—would comprise the most basic description. Reference:  Guillermo C. Jimenez and Elizabeth Pulos. (n.d.). Good corporation, Bad Corporation: Corporate Social Responsibility in the global economy . Good Corporation Bad Corporation Corporate Social Responsibility in the Global Economy. Retrieved July 25, 2022, from https://milnepublishing.geneseo.edu/good-corporation-bad-corporation/  Free textbooks online with no catch . OpenStax. (n.d.). Retrieved July 25, 2022, from https://openstax.org/details/books/business-ethics Byars, S. M., & Stanberry, K. (2019). Business ethics

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