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4 The global coronavirus pandemic severely affected many industries requiring Company Directors to make some very difficult decisions to ensure the survival of their businesses. In one such scenario, a Company Director is faced with the following two options: Option 1: Sack 25% of the workforce immediately, or Option 2: Make all staff take an immediate 25% pay-cut and implement a hiring and pay-freeze until further notice. (a) Explain the underlying principles of Utilitarianism and apply this to each of the options above to decide which option is most likely to be favoured using this ethical theory