AssignmentDetailsNote: The following companiesand characters are fictional.Avery prestigious events planning firm, Verlon, has approached John Sanders,vice president of Echo Echo Industries, to secure a contract as a vendor. Thepresident of Verlon Events Planning would like Echo Echo Industries to considertheir company for planning Echo Echo’s several corporate upcoming conventions.Echo Echo hosts 3 large events per year, which results in the awarding of morethan $500,000 dollars in contracts. David Smith is in charge of researchingsuppliers and vendors for Echo Echo Industries to ensure compliance with theirethics department. One of the ethical stipulations for awarding contracts isthat agreements cannot be awarded to relatives of upper-management employees.Vice president Sanders, David’s boss, recommends Verlon catering as a choice,and states to David, “There is not a need to do research on Verlon. I can vouchfor the company.” He also states that David would be up for a promotion if theupcoming events are successful. David is excited about this news; he wasunemployed for 2 years before landing his present position 6 months ago. Apromotion would certainly help him catch up on bills and provide for his familyof four. However, out of curiosity about the Verlon company, David conductssome research. He discovers that the Verlon Event Planning’s president is theex-sister-in-law to his boss. At the monthly general finance meeting forapproving contracts, the finance manager, William Young, asks David twoquestions: “Is the company reputable?” and “Would there be a conflict ofinterest according to our company policies?” Vice president Sanders and Younglook in David’s direction for the answers.Considerthis ethical dilemma, and then answer the following:Part1From a deontological perspective, whatshould David do in this situation?Should David have discussed the researchfindings with his boss before the meeting? Why? What is at risk here?What ramifications, if any would Davidanswers have for the companies? For David?What library sources might you offer tosupport your positions here? How do they differ from your ideas? Part2Have you ever been placed in a situationsuch as this one? What decisions did you have to make? What was the outcome?Discuss with 2 or more classmates theirpositions and responses to the ethical dilemma presented.