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1. What is the managerial view on business? What are the stakeholders view on business? How do they differ?

The management viewpoint on business prioritizes the interests of the shareholders as the main goal of a firm. As opposed to this, the stakeholder perspective asserts that it is crucial to promote the interests of important stakeholders including shareholders, customers, workers, management, suppliers, and the local community. From a management perspective, the key difference is that shareholders' interests are often prioritized over those of other stakeholders.

2. Who are stakeholders? What important distinctions are made to differentiate them?

Those with a stake or interest in a company's activities are referred to as stakeholders. Stakeholders can be an individual, a group, or a third party. Employees, clients, investors, suppliers, community members, and government agencies are stakeholders. Given that each shareholder has a different level of interest in the firm, the distinction between them is made by what each one performs.

3.Based on chapter three, what does it mean for managers to put business and ethics together? Share an experience from your workplace that demonstrates how managers put ethics and business together.

On the basis of chapter three, implementing appropriate rules and procedures implies that an organization's culture is set when business and ethics are combined. For instance, customer satisfaction is a top priority in my line of work. Customers are our greatest stakeholders; therefore, we make sure to give them excellent service, foster strong relationships with them, and encourage them to buy more products.