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Ethics in a Concert Cancellation

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Here is an ethical aspect of contracts -imagine you were a ticketholder to a Michael Jackson concert at the time of his death. The Final Tour is announced, tickets go on sale, the shows immediately sell out, and then Michael Jackson dies quite suddenly two weeks before the tour is to begin. Aside from any legal contractual issues, discuss the ethical considerations for what to do about refunding the tickets. That is, even if the agreement that ticketholders (generally unknowingly) entered into said their money would not be refunded in such an event, discuss the ethics of the situation.

Who are the stakeholders?
What are the issues involved?
What does the tour promoter stand to lose with each scenario?
What does it stand to gain?
Where do law and ethics interface here in such an unprecedented occurrence (not just the death of a performer, but one of Michael Jackson's unparalleled stature)? Does sentiment enter into the picture under the circumstances? In what way? Should it?
How would you determine the best ethical position to take about refunding the money?
Answer with references/citations

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Who are the stakeholders?
The stakeholders are as follows: the artist (Michael Jackson), the estate of Michael Jackson, Michael Jackson's management team, Michael Jackson's band, the other acts performing at the concert, wardrobe, makeup artist, chefs, crew members, box office and venue staff, security, food and merchandise vendors, concert promoter, concert locations and advertisers (The information was obtained at "The Business of Concert Cancellations").

What are the issues involved?
Since the tour had to be cancelled, the promoter (AEG Live) had a bill of £360 million. The tour had sold £60 tickets. In order to keep the revenue from the ticket sales, AEG Live suggested that the ticket purchasers should keep the tickets as a moment or commemorative. AEG Live wanted hundreds of thousands of ...

Solution Summary

When Michael Jackson died prior to his final tour, it presented an ethical situation. This is an examination of the key stakeholders involved and the decision made by the promoter to issue a refund or not.

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For this project consider the fact that at one point in US history the decision to own slaves was considered rational and informed. Today we would consider the decision to own slaves "irrational". For this project:

1. Identify one other example of a decision (past or present) that was once considered "rational" but that is now reviewed as "irrational".
2. Explain, in detail, why the decision was once considered "rational" but would now be considered "irrational".
3. Identify the decision theory (from our learning in Unit 2) you believe was used in the original decision making within your example. Be sure to fully support "why" the theory you selected was present. Simply naming a theory won't be enough...you need to support your answer.

HINT HINT HINT...Part 3 asks you to identify a THEORY from our learning in Unit 2 that applies to your example. Be sure you pick a THEORY and remember you must do more than name a theory...you must also explain HOW & WHY the theory you selected specifically applies to the example you chose. Don't "define" the theory or explain the example again. YOU as the analyst must TIE the theory selected and event together)
Do not try to answer the questions in this project or prepare your paper until AFTER you have completed the Unit 2 Activity.

Please view the attachment.

To access and complete the Unit 2 Activity click on the Course Materials link on the navigation bar that runs down the left side of the virtual classroom. Select and click on the next link titled Unit 2 Multimedia Course Material link and finally click on the "activity" icon.

Note...there are multiple scenarios within the Unit 2 activity. Your goal is to try to identify the most applicable decision concept (from our learning in Unit 2) for each scenario, support your conclusions, and then provide a summary analysis about what you've learned.

There are three (3) parts to this project. Your research paper should address each one fully and thoroughly.
Part 1: Review each situation (there are multiple scenarios within the activity) and identify which decision concept (theory, principle, model, etc.) from our learning in Unit 2 you believe to be present. Make sure you also explain (for each concept identified) "how" and "why" you arrived at your conclusion. In other words; what information helped you select each concept for each situation?

Part 2: Look at the different decision concepts you identified in part 1. What do you think those different concepts imply about how people make decisions?

Part 3: Do the decisions we make always need to be rational? Under what circumstances are we (decision makers) likely to make irrational choices?

Make sure you reinforce your work with suitable references from the text book and other authoritative and credible references, which must enhance the quality of your response. In the process please use correct APA citation style.

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