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Management-to get to the profit I believe you have to have some good management behind a business. If you have a business and the management is not solid or unrecognized or nonexistent a business cannot run smoothly, therefore putting profit at risk for that business. Meaning the economic perspective cannot stand alone. 2. Customer Service- a business should always operate with the consumers in mind considering they are the ones who will generate profit for the business. If good customer service Is not involved in business, Just like good management, profit will not exist.
Meaning the economic perspective cannot stand alone. 3. Supply and demand- a business has to think are we supplying what the consumers want or is demanded in order to make a profit. If you have a business selling things that are not needed or not wanted then surely u will not have profit. Meaning the economic perspective cannot stand alone. 4. Inventory- a business should offer operate with Inventory In mind If there aren’t enough Inventories In a market people will go elsewhere to find it. Meaning the economic perspective cannot stand alone. . Marketing (image) – if a business cannot lure people in how is your profit going to be made. A business should also think about marketing has well or has a stepping stone to make a profit. Meaning the economic perspective cannot stand alone. A businesses general goal should be to make a profit but I do not feel that they should only operate with a profit In mind, because there are several factors that can get you to making a profit. A) Was Home Depot’s behavior an act of good ethics or simply shrewd business?
Imagine how an executive would argue in a meeting for the actions that the company kook. What objections might other executives raise? Believe that although Home Depot increased the price before hand I still see their behavior has an act of good ethics. The executives would argue in a meeting that In a time such as these that It’s Just supply and demand. They raised prices knowing that people would come in to purchase these materials to protect their investments. 1 OFF Unlike price gouging Tanat seems to napped rater an Incident or at ten last nor Ana the prices go up extensively.
Other executives might argue that they raised prices just at the right time to avoid really being looked at has price gouging. B) Would it make any difference in this case whether a decision maker takes a short -term or long-term view? Which view should the decision maker take? It would make a difference on whether a decision maker takes a long term or short term view. If you look at it from long term Home Depot made a smart business decision to increase their prices, they increased profits therefore in the future will be making more profits. In the short term they lost out on the profits that came from price gouging.
I think the decision maker should take the view of short term and that I believe that they kept ethical in their businesses. C) Does Home Depot (or any other Business) have a responsibility to help the citizens hurt by the hurricane? Whose responsibility is hurricane relief? I feel it’s good business to help citizens hurt by the hurricane all it can do is make that business look very good to the public but I feel it is not their responsibility to and in hurricane relief it’s the insurance companies and the owners responsibilities and if the situation is bad enough maybe the government