Assignment:
Please refer to the following situations below to answer the questions.
Situation 1: Suppose you are a partner in a business and see a great deal of profitability on the horizon. You don't believe that your partner deserves to profit from the business' future success because you don't like his personality. You may wonder if you could simply take his name off the bank accounts, change the locks, and continue without him. If you proceed with this course of action, you would likely be in violation of your ethical and legal obligation to act in good faith concerning your partner.
Situation 2: Suppose you are on the board of directors for a publicly traded corporation. You and your fellow board members, in hopes of heading off early for the holidays, rush through the investigatory process involved in a much-anticipated merger. As a board member, you have a duty to exercise the utmost care respecting decisions that affect the corporation and its shareholders. Failing to properly investigate a matter that affects their interests could be viewed as gross negligence supporting a breach of your ethical and legal duty of care.
Question 1: What are you going to do in the 2 situations stated above?
Question 2: Do you think your mode of action is ethical? Why or why not?