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Should firm behave ethically all time?
Yes, firms should behave ethically at all times as it fosters trust and loyalty among customers, employees, and stakeholders. Ethical behavior enhances a company's reputation, which can lead to long-term success and sustainability. Additionally, adhering to ethical standards can help avoid legal issues and promote a positive workplace culture. Ultimately, ethical practices contribute to a firm’s overall resilience and competitiveness in the market.
C Should firms behave ethically?
Yes offcourse. Executives of most major firms believe that firms do try to maintain high ethical standards in all of their business dealings. Furthermore, most executives believe that there is a positive correlation between ethics and long-run profitability. Conflicts often arise between profits and ethics. Companies must deal with these conflicts on a regular basis, and a failure to handle the situation properly can lead to huge product liability suits and even to bankruptcy. There is no room for unethical behavior in the business world.
The study of how people or firms behave in strategic situation is called?
game theory
What is a formal agreement between firms to set prices or to behave in a cooperative manner called?
collusion
How ethically should firms treat competitors?
Firms should treat competitors with fairness and integrity, adhering to ethical standards that promote healthy competition. Engaging in practices like price-fixing, false advertising, or corporate espionage undermines trust and can damage the industry as a whole. Instead, companies should focus on innovation and differentiation while respecting intellectual property and market boundaries. Ethical treatment fosters a level playing field, benefiting consumers and the economy.
On what criteria should business continuity consulting firms be judged on?
Business continuity consulting firms should be judged on their integrity, honesty, and business sense. One should also look at their track record. One should also compare firms to one another.
Why do firms behave illegally?
Firms may behave illegally to gain competitive advantages, such as increasing profits or market share, often believing the potential rewards outweigh the risks of getting caught. Pressure to meet financial targets, a culture that prioritizes results over ethics, or a lack of effective oversight can also drive unethical behavior. Additionally, some firms may exploit regulatory gaps or ambiguity, assuming they can navigate the legal system without consequence. Ultimately, a combination of greed, opportunity, and inadequate accountability can lead to illegal actions.
When external costs are generated by firms the government should?
stop
Should firms with higher business risk have lower leverage?
yes
Of what considerations should firms attempting to compete on a global basis be aware?
Firms attempting to compete on a global basis should be aware that nations differ greatly in their political, legal, economic, and cultural environments
What is the cost for a full title examination for real estate?
Costs vary in different jurisdictions. You should call some law firms in your jurisdiction to get an idea of the costs locally.Costs vary in different jurisdictions. You should call some law firms in your jurisdiction to get an idea of the costs locally.Costs vary in different jurisdictions. You should call some law firms in your jurisdiction to get an idea of the costs locally.Costs vary in different jurisdictions. You should call some law firms in your jurisdiction to get an idea of the costs locally.
Do Oligopolists behave independently of each other?
Oligopolists do not behave independently of each other; instead, their decisions are often interdependent. In an oligopoly, a small number of firms dominate the market, so the actions of one firm—such as changing prices or output—can significantly impact the others. As a result, firms in an oligopoly may engage in strategic behavior, such as collusion or price leadership, to optimize their outcomes while considering their competitors' potential responses. This interdependence is a defining characteristic of oligopolistic markets.
