A firm has spent some time—with input from managers at all levels—in developing a vision statement and a mission statement. Over time, however, the behavior of some executives is contrary to these statements. Could this raise some ethical issues?
Answer to relevant QuestionsWhy must managers be aware of a firm’s external environment? What are some of the limitations (or caveats) in using five-force analysis? Go to the Internet and look up www.kroger.com. What are some of the five forces driving industry competition that are affecting the profitability of this firm? What are the advantages and disadvantages of conducting a financial ratio analysis of a firm? What are some of the ethical issues that may arise from a firm’s procurement activities? Are you aware of any of these issues from your personal experience or businesses you are familiar with?
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