Bundle: Management, Loose-Leaf Version, 13th + MindTap Management, 1 term (6 months) Printed Access Card
Bundle: Management, Loose-Leaf Version, 13th + MindTap Management, 1 term (6 months) Printed Access Card
13th Edition
ISBN: 9781337502160
Author: Richard L. Daft
Publisher: Cengage Learning
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Chapter 6, Problem 1DQ
Summary Introduction

To Determine:

If for profit businesses should have a social mission even if it means their profits would take a hit.

Introduction:

Entrepreneurship − Arranging the required resources and starting a business while assuming the rewards as well as the risks associated, this entire process is called entrepreneurship.

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You will explain what it is, Benefits, Threats, and Ethical Challenges.
Explore strategies entrepreneurs and business leaders can use to balance ethical relativism and universal ethical principles when operating across diverse cultural landscapes, as illustrated by GlobalTech’s expansion into a developingcountry.   -Provides a clear explanation of ethical relativism and universal ethical principles and why they are important in cross-cultural business operations. - Identifies and thoroughly explains at least three strategies to balance these ethical approaches. Application of examples from the scenario is key, especially in balancing cost savings with ethical standards. - Examines the challenges faced by GlobalTech and similar businesses in aligning local practices with global ethicalstandards, highlighting possible outcomes of choosing one ethical stance over another.
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