Question 2 Dan Price, founder and CEO of Gravity Payments, a Seattle-based credit card processing company, took a pay cut to give all his employees minimum salary of at least $70,000 a year. (see https://www.businessinsider.com/gravity-payments-dan-price-ceo-raise-minimum-wage- revenue-2021-8 ) In contrast, there are slave owners who do not pay anything to their slaves at all. Slavery still exists in various countries, for instance, in some parts of Africa. Nearly everyone would think that slavery is unethical and wrong, whilst Dan Price's actions are ethical and good.

(a) Discuss the concept of business ethics and the approaches that guide ethical business decisions, and evaluate the actions of Dan Price, assessing the possible ethical reasonings he has adopted and how business ethics has been shown to be important through his actions.