What is equity theory and its relationship to ethical dilemmas
Equity Theory attempts to explain relational satisfaction in terms of perceptions of fair/unfair distributions of resources within interpersonal relationships. Equity theory is considered as one of the justice theories. The idea that employees try to maintain equity between inputs and outputs compared to others in similar positions. Ethical dilemma is a complex situation that will often involve an apparent mental conflict between moral imperatives, in which to obey one would result in transgressing another. Ethics comes to play in equity theory when you ask yourself things such as ‘If I do a good job, will it be worth it?’ When there is a dilemma you as the employer try to find a common ground that is fear to both parties.
1. How would you go about setting up your business from the idea of opening on the first day?
Entrepreneurship offers many rewards, but you must be prepared and committed. Before taking that leap of faith, I know that it is important to make sure I have what it takes. Not only will I have to invest my money into the business, I'll have to run it, and this is the part that will take perseverance and motivation. The first step I will need to take is writing a business plan; this will help me cement my ideas and think critically about how I am going to start and operate my new business. I would try my best to find a mentor, someone that did this type of business before. I don’t think I would want to have that ‘I can do it alone’ minds set going into a business. I do think one of the best ways to insulate myself from the business failing is to find and work with someone with that type of business experience to guide and assist me. After finding a mentor next I will think about the finance of the business. All businesses require some sort on financing. An integral component of start a successful business is raising sufficient capital. With all of this in place I would...