Professional Documents
Culture Documents
SHUCHIM GUPTA
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Section –A (10 Marks)
Ans 3 - Idea generation is a very important activity, without which we would have
nothing to work on. This activity also proves to be very beneficial for all the
parties involved. The organization gets a lot of innovative ideas to work upon, the
employees get to be a part of the bigger picture. There’s an increase in creativity
and a lot of effective solutions are generated.
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4. Explain the relationship between Emotional Intelligence & self-regulation.
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8. Note on Ethical Corporate Behavior.
Ans- In a business setting, ethical behavior is behavior that means applies the principles of
honesty and fairness to relationships with coworkers and customers. Ethical individuals make an
effort to treat everyone with whom they come in contact as they would want to be treated
themselves.
Porter's Five Forces is a business analysis model that helps to explain why various industries are
able to sustain different levels of profitability. The model was published in Michael E. Porter's
book, "Competitive Strategy: Techniques for Analyzing Industries and Competitors" in 1980.
The Five Forces model is widely used to analyze the industry structure of a company as well as
its corporate strategy. Porter identified five undeniable forces that play a part in shaping every
market and industry in the world, with some caveats. The five forces are frequently used to
measure competition intensity, attractiveness, and profitability of an industry or market.
Porter's five forces are:
1. Competition in the industry: It refers to the number of competitors and their ability to
undercut a company. The larger the number of competitors, along with the number of equivalent
products and services they offer, the lesser the power of a company. Suppliers and buyers seek
out a company's competition if they are able to offer a better deal or lower prices. Conversely,
when competitive rivalry is low, a company has greater power to charge higher prices and set the
terms of deals to achieve higher sales and profits.
2. Potential of new entrants into the industry: A company's power is also affected by
the force of new entrants into its market. The less time and money it costs for a competitor to
enter a company's market and be an effective competitor, the more an established company's
position could be significantly weakened. An industry with strong barriers to entry is ideal for
existing companies within that industry since the company would be able to charge higher prices
and negotiate better terms.
3. Power of suppliers: An assessment of how easy it is for suppliers to drive up prices. This
is driven by the: number of suppliers of each essential input; uniqueness of their product or
service; relative size and strength of the supplier; and cost of switching from one supplier to
another.
4. Power of customers: An assessment of how easy it is for buyers to drive prices down.
This is driven by the: number of buyers in the market; importance of each individual buyer to the
organisation; and cost to the buyer of switching from one supplier to another. If a business has
just a few powerful buyers, they are often able to dictate terms.
5. Threat of substitute products: Where close substitute products exist in a market, it
increases the likelihood of customers switching to alternatives in response to price increases.
This reduces both the power of suppliers and the attractiveness of the market.
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Step 4- Evaluate the identified alternatives (use PLUS to assess their
ethical impact): We need to jump into the rundown of likely arrangements, and
think about all the certain and negative outcomes of making each move. It’s
significant we consider how likely those results are to happen, too. We’ll again need
to allude to assets, rules and guidelines.
Step 5- Make the decision, and Implement it: At this stage we have all the
data we need to settle on a reasonable and moral choice. On the off chance the we
have settled on the choice alone yet we need to impart it to our group, make a
proposition illustrating why we picked this course, and what choices we considered,
so they can comprehend our means.
Step 6- Evaluate the decision (PLUS surface any remaining/new
ethics issues): since we have executed the answer, choose whether the concern was
fixed or not. On the off chance that there are unanticipated results. Maybe we need to
think about other option.
The PLUS filters do not guarantee an ethically-sound decision. They merely ensure that
the ethics components of the situation will be surfaced so that they might be considered.
Ethics: Ethics is a system of moral principles. They affect how people make decisions and
lead their lives. Ethics is concerned with what is good for individuals and society and is also
described as moral philosophy.
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Moral rights are personal rights that connect the creator of a work to their work. Moral
rights are about being properly named or credited when your work is used, and the way your
work is treated and shown. Moral rights require that your name is always shown with your
work. This is called right of attribution.
A person who demonstrates ethical behavior has evidence of a strong moral code and a
consistent set of values. Ethics can be rooted in belief or the pursuit of making the world better.
Those who exemplify ethical behavior do the right thing regardless of whether they get credit for
it. This sort of behavior is not limited to the workplace; it can be present in every facet of life.
Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Those
who have others' interests in mind when they make decisions are displaying ethical behavior.
In the workplace, there might be a standard for ethics set throughout the company. Many
organizations create a code of ethics, which might include generic guidelines for ethical behavior
about doing the right thing or remaining fair. It could also mention specific protocol within the
business.
For example, a code of ethics at a doctor's office might include putting the patient first and
remaining understanding in tough situations. At a college, a code of ethics could include being
honest and unbiased when grading and being a catalyst for diverse perspectives in the classroom.
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