Business Law_I couldn\'t find Business Law in the subject chart 1. Read the foll
ID: 419386 • Letter: B
Question
Business Law_I couldn't find Business Law in the subject chart
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
As per given case study, putting an upscale convenience store between the rich and poor zone can certainly bring in rich dividends. Building a convenience store to do the business is ethically a right move but approaches to do the business are certainly weighed on the criteria of intentions.
As per the case study, intention is to take advantage of the monopoly of the convenience store in the area where no other stores are there at the moment. Earning money from the rich people could be ethically right but aspiring to earn the money from poor at the similar rate of the materials as applicable for rich, may not be termed as ethical on the virtues or parameters of justice and morality.
Though business is not a charity or donation job, yet being considerate for poor people is always a desired trait. Lowering down the prices of the some of the commodities could bring in a lot of relief to poor people and would also put them at ease in shopping the essential commodities which are required on daily basis.
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