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How do you justify and approach for how tosolve a business problem
A strong appeal of the utilitarian approach is its cost-benefit character. Business managers regularly weigh the pros and cons of alternative economic and managerial actions. [ This approach to solving business problems is a staple of many business courses so is therefore ingrained in the psyche of many managers. Business executives appreciate the fact that most utilitarians recognize that not everyone will benefit from a particular action. Hence, the emphasis in utilitarianism is on the net utility of the set of outcomes resulting from a decision being considered. Business managers, of
course, also realise that their business decisions must often be placed in the context of a “win-lose” situation. That is, the consequences of a business action are seldom singular; rather, they are multiple and may “cut both ways.” For instance, in mature markets, the only way to gain market share is for at least one competitor to lose share. Or increasing long-term shareholder value may require sacrificing short-term profits (and perhaps management bonuses) in favour of reinvestment in the business, its products and services. ]
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Expert answered|jeifunk|Points 8521|
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Asked 1/29/2013 7:41:39 AM
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