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A graphical representation of Porter's five forces. Porter's Five Forces Framework is a method of analysing the competitive environment of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability.
For example, customers could buy music in the form of an MP3 rather than buy it in the form of a physical CD. As a result, when a company is making strategy for Internet marketing, it is necessary to understand how to vary their products in the online environment. Here are some indications of adapt the product element on the Internet. [49]
According to Aristotle, how to lead a good life is one of the central questions of ethics. [1]Ethics, also called moral philosophy, is the study of moral phenomena. It is one of the main branches of philosophy and investigates the nature of morality and the principles that govern the moral evaluation of conduct, character traits, and institutions.
Unfortunately, the crowd-pleasing pizza is one of longevity scientist Valter Longo’s “poisonous P’s” for longevity. (Westend61 via Getty)
In philosophy, an ethical dilemma, also called an ethical paradox or moral dilemma, is a situation in which two or more conflicting moral imperatives, none of which overrides the other, confront an agent. A closely related definition characterizes an ethical dilemma as a situation in which every available choice is wrong.
In other words, if an ethical solution is more costly, a utilitarian will argue from a standpoint of efficiency or effectiveness to justify a less ethical solution. Deontologists: Believe that certain absolute principles should be obeyed, regardless of the consequences. An example of an absolute principle would be honesty.
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
Applied ethics – using philosophical methods, attempts to identify the morally correct course of action in various fields of human life.. Economics and business Business ethics – concerns questions such as the limits on managers in the pursuit of profit, or the duty of 'whistleblowers' to the general public as opposed to their employers.