Business law and ethics

In order to understand the ethical choices that they are expected to make, business people must have an appropriate understanding of the philosophical frameworks that inform their understanding. There are ethical frameworks that are discussed by Halbert and Ingulli as a way to elucidate, interpret and justify behavior that tend to emerge as far as contemporary ethics is concerned.

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In conclusion, there are some disadvantages that are associated with a sole proprietorship. In a sole proprietorship, the capacity to raise the required capital is always limited. Also, retaining high-caliber worker can be a challenge especially because of the issues related to inadequate funds to the business. A sole proprietor has the duty to make all the decisions related to the organization. Any delay in decision making affects the business negatively.

References
Wines, W. A. (2008). Seven pillars of business ethics; Towards a comprehensive framework. Journal of Business Ethics, 79(4), 483-499.

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