Ethics and Individual Values – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility

What is the role of individual values in the development of ethical standards? Ethics ultimately boils down to the individual values one applies in decision-making. Individual values can be explored by asking five important questions in situations of decision-making:...

Achieving Ethics in Business

by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility

What are the obstacles to ethical business practice?There are obstacles to ethical corporate behavior that deserve serious consideration.The emphasis on profit, “the bottom line,” can promote unethical behavior within a large business organization,...

Benefits of Business Ethics

by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility

What are the benefits to business in pursuing ethical business practices? Effect: Note the enormous size of the worlds largest companies. Profits and business ethics are not contradictory. That unethical behavior is a business liability. If ethical self-regulation...

Is Owning Property Moral?

by TheBusinessProfessor | Feb 23, 2025 | Business Ethics & Social Responsibility

What views characterize the debate surrounding the morality of property ownership? The primary criticism of private property is that it allows some people to possess more than they need while others have need. The moral defense of property is that it produces a...

Partnerships Tax – Explained

by TheBusinessProfessor | Feb 23, 2025 | Business Taxation

How are Partnerships Taxed?In short, they are not. Partnerships are pass-through tax entities. This means that all profits and losses flow directly through to the partners. The partnership may file an informational tax return, but it does not have liability for or...

Where to Form a Business – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What are my considerations in determining in which state to incorporate?Your state of incorporation depends on several factors, the most important of which are: 1) Where you conduct operations, 2) Tax considerations, 3) Legal considerations. These factors will either...

How to Select a Business Entity

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

How Do I Select a Business Entity? You should choose a business entity that accommodates your intended business operations and growth at the appropriate stage of your business life cycle. In selecting a business entity, one must understand the attributes of each...

Selling a Business – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

How to Sell a Business?Selling a business is commonly the objective of startup ventures. Many factors go into the decision of when and whether to sell a business.Valuing the BusinessNumerous methods exist for valuing a business. The method relied upon generally...

Closing a Business – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

Overview of How to Close Down Your BusinessYou may determine that you no longer can or want to run the business. In that case you may decide that shutting down the business is more advantageous that attempting to sell the on-going operations to someone else. In this...

Lease or Purchase of Real Estate – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What Rules apply to the Lease or Sale of Real Estate? The lease and sale or real estate is generally governed by state law. The law my be statutory or based primarily in the common law. Should I Rent or Purchase an Office? The decision to rent or purchase a location...