BUSINESS LAW : 1. Read the following scenario and answer the question in 5-10 se
ID: 359434 • Letter: B
Question
BUSINESS LAW :
1. Read the following scenario and answer the question in 5-10 sentences.
You recently inherited some property between a wealthy neighborhood and a fairly poor neighborhood. The property is zoned so that you can put a commercial building on it. You are contemplating putting an upscale convenience store on the property. You believe you can sell goods at a higher price than at the average convenience store because of the location because you think that the wealthy residents will pay a premium for the convenience of the location. Further, you believe that the residents of the poorer neighborhood will pay the higher prices because you will have the only convenience store in the area. How do you justify your decision using ethical theory and an ethical decision making model?
Explanation / Answer
To justify my decision, I shall be using the ethical theory of Distributive Justice. In this Principle, selection of decisions and actions as right and proper and good is done only if the least advantaged members of our society somehow enjoy a better standard of living after the decision or act than they did before. Accordingly, in my case, my property is intended for the commercial use. If I open an average convenience store, then it would make an insignificant impact to the standard of living of a fairly poor neighborhood. The opening of an upscale convenience store on the property would not only mean that the store would be only storing higher-end and expensive products for the sale but it shall also have certain dedicated counters to cater for regular needs too which could be met at a reasonable rate. The fact that the fairly poor people would not have to resort to various modes of communication to reach at an average convenience store would also make them save certain amount of money on hand, which in turn, could be utilized for buying the products from this upscale convenience store. On the other side, the wealthy neighborhood also would avail the advantage of the quality products available at a competitive rate thereby enhancing my customer base considerably. Hence with the application of ethical theory model of Distributive Justice, my decision could be justified.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.