You are running with a business since last many years. Over a period of time you...

You are running with a business since last many years. Over a period of time you have very good corporate image in market. But unfortunately since last two years your firm is passing through crisis. Your business is suffering from heavy losses. You are planning to wind up your business. Meanwhile one big corporate house has announced a big corporate deal through auction. You have also decided to take part in that deal as it will be a last option for you to save your business. On the day of auction, so many companies have participated for this bid. Committee would declare the result after lunch break. You found the closed envelope of your competitor’s bid during lunch break.

Will you be ethical in this situation? If yes how? And if no! Why?
If you be ethical, how you will survive your business.

Solutions

Expert Solution

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Explanation:

A- In this particular situation, i would see the bids of competitors because this is the last chance for me and my business to actually survive. If we see bids of my competitors help me to save my business then i would say it is ethical for me because under Utilitarianism theory of ethics which is based on outcome means a decision is ethical which will produce the greatest good for the greatest number.

In this context, if my decision to see bid and win auction help me to save my business then i save myself, my family, also many number of employees who work for my company. if i lose and wind up then employees will lose their job, i lose my business and even have to sell my house and properties in wind up.

B- If i do not see bids then i have only chance to survive my business by putting the lowest bid possible but this decision will put me in very low position to survive my business as my company is already suffering loss and image in society.

so, i think my A answer is the answer to both questions in this situation.

ALTERNATE ANSWER:

A)Yes i will be ethical in this situation by not disclosing the competitor s bid to anyone and by doing it i will only able to use this information only against one person which will not obviously lead to save my business as there are many more competitors too.

B ) if i be ethical i will try my best by collecting all the information about competitors and try to judge the bidding price of other parties and by doing so i will be able to make my bid accordingly and that is how i can try to save my business if auction is the only option to save it.

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keosha answered 1 week ago

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