Business Theory Comparison Essay

717 words - 3 pages

1. What is the purpose of business? This question can have an endless amount of answers and they all can be correct. The goal will not be to find a definite answer but to explore four main business ethics theories to get a better understanding of what the purpose of business is.
2. A solely profit based business model would define stockholder theory in which the paramount goal of the business is to produce the most earnings for their stockholders. Prioritizing profits over a positive public image Goldman Sachs becomes an excellent example of stockholder theory. Entitlement and Desert theory can be used to support stockholder theory.
3. When stock is purchased in a company that person is entitled to the profits or loses that those shares in stock are worth, entitlement theory supports stockholder theory in which stockholders are entitled to reap the benefits of stock as long as it has been purchased justly. Desert theory states that if the action is morally right, then the person should be able to reap the benefits and take the loses. Stockholder theory supports this as being a stockholder in a company is morally accepted, but if an unethical act is preformed in buy or selling stock Desert Theory would not support Stockholder Theory. When Martha Stewart was arrested for insider trading she demonstrated that doing an in-moral act voids Desert Theory.
4. Stockholder theory revolves around pleasing one stakeholder, the stockholders; Stakeholder Theory broadens up that view to try and please all of the stakeholders. The Ben and Jerry's company was a good example of Stakeholder Theory as they kept the pay differences between the CEO and lowest paid worker to only ten fold. Utilitarianism and Virtue Ethics Theory can be used to support Stakeholder Theory.
5. What is more utilitarian then pleasing all of the stakeholders of a company? The paramount goal of Utilitarianism is to maximize net happiness, which is a clearly supports Stakeholder Theory. Virtue Ethics states that good moral character is more important than basing decisions on rules or consequences. Stakeholder Theory more closely relates to Virtue Ethics than Stockholder's, as Stakeholder's believes in kindness to all parties.
6. Utilitarianism...

Find Another Essay On Business Theory Comparison

Third-Person Effect in Public Relations and Social Comparison Theory

630 words - 3 pages characteristics.” Synopsis/Support: The main goal of this study is examining the third-person effect in public relations, and the factors of it through using the social comparison theory. The third-person effect “occurs when an individual believes that mass media content has greater influence on other people than on himself or herself, a belief that often leads to subsequent action.” The article described two components of the third-person

Comparison of the Social Exchange Theory and the Symbolic Interaction Theory

2133 words - 9 pages level, and comparison level for alternatives, as well as standards for outcome evaluation of both CL and CLalt to the budding theory, and these are concepts that remain with the theory even today (Molm, 2006, p. 30). Lastly, a theorist named Blau contributed his perspective on complex system exchanges to the now-blossoming Social Exchange theory. Blau aimed to bridge the gap between simple group structures and their resulting emergent

A Comparison of Conflict and Labeling Theory in the Context of Youth Gangs

1911 words - 8 pages Sotelo 2004; Sims 1997; Wiley et al. 2013; Yoder et al. 2003). This paper will examine the factors associated with youth gang membership using Karl Marx's conflict theory and labeling theory in comparison. Although conflict theory helps explain why a troublesome economy and coming from a low-socioeconomic status contributes to gang involvement, the theory has its limitations. On the other hand, labeling theory is unable to fully explain youth

A Comparison and Discussion of Erikson’s Psychosocial Theory of Development, Freud’s Psychosexual Stages of Development, and Piaget’s Stages of Cognitive Development

2165 words - 9 pages A Comparison and Discussion of Erikson's Psychosocial Theory of Development, Freud's Psychosexual Stages of Development, and Piaget's Stages of Cognitive DevelopmentDevelopmental Psychology ISubmitted on May 23, 2014Written ByEmine YILDIZ010311094ZIRVE UNIVERSITYGaziantep, TurkeyIntroductionHuman development is a highly complex concept among concepts of human sciences. Developmentalists claim that every single event in each stage of childhood

Comparison and conclusions about the nature of knowledge between knowing a friend and knowing how to swim, knowing a scientific theory and knowing a historical period

1037 words - 4 pages learning to obtain and achieve things in life.Comparing knowing a friend to knowing a scientific theory shows that they both must be proven. Friends are people who just don't walk up and suddenly become a friend. Friendship involves trust and trust is something you earn. Emotions are involved in choosing a friend that is based on the feelings you have about that person that usually happens during your first impressions. Reason also plays apart about

Societal Standards of Feminine Beauty

1115 words - 5 pages Beauty standard). Marketing strategies lure women into purchasing these forms of media, and most have the potential to be a powerful influence on women’s sense of self-satisfaction with their appearance. The social comparison theory offers some level of explanation for how media images actually come to impact the way women feel about their bodies. “Social comparison theory examines how individuals evaluate themselves in relation to peers

Necessity of Math in Business

882 words - 4 pages business. One should have some knowledge in different areas such as business math or hire the right people with the experience and the know. Knowing mathematics will only enhance your work, in a person’s reasoning, problem - solving skills, and in the capability of thought. Tools in math such as the use of accounting can help with the expenses coming in and out of business. Market trends can be mapped by using the theory of chaos formula. Statistics

The Purpose of Feminist Legal Theory

1400 words - 6 pages the rest of the society gets. These factors are clearly related to the feminist legal theory, since both contain concepts of equality for women in our society. COMPARISON OF THEORY A AND THEORY B First the strength of utilitarianism is that is pursues the greatest good for the society as a whole, which means that the majority will most likely benefit. Also another strength could be the fact that pursuing utilitarianism theory will not leave

Leadership Strategy that Drives Business Strategies

957 words - 4 pages achievement or otherwise of the organizational goals. In agreement with Pasmore’s theory, I see a semblance of certain actions taken by WanEll Enterprise in choosing its leadership to drive its business. After identifying its business strategy drivers, it defined the quality and number of leaders required, analyzed the current skills and competencies of the leaders in comparison to what they are expected to possess. This analysis was done using

Evaluation: Ethical Perspectives on Social Responsibility

1249 words - 5 pages Evaluation: Ethical Perspectives on Social Responsibility This paper evaluates Cohen’s article on social responsibility and considers how his perspective and ideas align in comparison with other management experts including Drucker and Friedman. Some key components that are included in the evaluation are: • A definition of the concept of social responsibility. • What Cohen identifies as the social responsibility of a business to the workers

Section III

1127 words - 5 pages supporting this report is the Human Capital Theory which will form the basis for a recommendation of best practice. Section IV of the capstone relates the findings of this study. Works Cited Association for the Advancement of Collegiate Schools of Business. (2014). Accreditation. Retrieved from http://www.aacsb.edu/accreditation/ Barker, D., Ni, A., & Van Wart, M. (2012). AASCB assurance of learning: Lessons learned in ethics module development

Similar Essays

"Comparison And Analysis Of The Tourism Development In Republic Of Maldives And Kerala Using Rose's Theory Of Lesson Drawing"

5755 words - 23 pages developing the tourism industry. This is followed by the comparison of the various similarities the various attractions and the levels of growth of the tourism industry in Maldives in relation to Kerala, which is not as successful as Maldives and by using Rose's theory of lesson drawing to identify issues and apply lessons that can be imparted to overcome the issues which is causing an hindrance to the growth of tourism industry in Kerala.Both the places

The Comparison Of Functionalism And Conflict Theory

974 words - 4 pages Functionalism and conflict theory are two theories that influence the purposes of schooling. These two theories are both different and similar in their view and relation to schooling. Basically, the differences lie in the way these two theories explain transmission, as well as way functionalists are more accepting and conflict theorists want to change things. The two theories are similar in their views of structure and culture."Functionalism

The Social Comparison Theory: Being A Zero

850 words - 4 pages The Social Comparison Theory: Being a Zero Just a few years ago, being referred to as a “zero” was something that everyone wanted to avoid. Someone that was a “zero” was laughed at and ridiculed for being worthless and unpopular. It has not been until recently that being a “zero” could be a good thing. In today’s advertising and entertainment world, not only are women superior if they are a size zero, but size zero and size two body frames

Comparison And Contrast On Theory Xy And Z

882 words - 4 pages Comparison and Contrast on Theory XY and ZDouglas McGregor suggested that there are two different ways in which we can look at workers attitudes toward work. Each of these views, which McGregor called Theory X and Theory Y, has implications for management.Theory X ('authoritarian management' style)-People do not really like to work and will avoid it if at all possible so they must be coerced, controlled, directed, threatened with punishment to