1. Read pages 88-109 of Legal Environment of Business. The law seems to always be behind when legislating and protecting consumers and businesses alike with regard to technology. As you read these pages, think about that process and how your business and personal life can be impacted by legislation that has not caught up with the ever-changing technological world. The U.S. Constitution is a complex framework for the American legal system, attempting to balance competing interests as well as protecting the notion of limited government and jurisdiction. Changing the federal Constitution is very difficult. It was written two-and-a-half centuries ago. One of the most challenging aspects of the Constitution's framework is the balance of power between the branches of government, the legislative (Congress), executive (President), and judicial (Supreme Court). Which, if any, branch in your view is or has become the most powerful in contemporary times in a business context?
2. Read pages 115-124 of Legal Environment of Business. As you read this chapter, consider the elements necessary to prove negligence. Think about how duty, breach of duty, causation, and damages play a role in the way business is conducted. Understanding the difference between strict liability and negligence can be challenging at first blush. There is in a sense a greater risk of liability where it is considered strict than negligence, meaning that there can be liability even if there is no negligence. Strict liability is not liability "no matter way" but it does tend to tilt the scales against the business. This is or tends to be the case, for example, when it comes to consumer financial transactions and products liability. Should businesses bear this burden? Does it make for safer products?
3. Read pages 142-144 and 151-153 of Legal Environment of Business. Consider the following as you read: Think about white collar crime and the impact it has on the profitability of business. Do we need to be tougher than we are on this form of crime? Think about white collar crime and the impact it has on the profitability of business. Do we need to be tougher than we are on this form of crime?
4. Read "The Process of Risk Management: Important Steps to Take" located in the Week 3 Electronic Reserve Readings. Write an overview of this reading.• Anderson, S. W., Christ, M. H., Dekker, H. C., & Sedatole, K. L. (2014). The Use of Management Controls to Mitigate Risk in Strategic Alliances: Field and Survey Evidence. Journal Of Management Accounting Research, 26(1), 1-32.• Harvey, G. E. (2012). The process of risk management: Important steps to take. Petroleum Accounting and Financial Management Journal, 31(1), 77-86.
5. Watch the "Crisis Management Strategy Planning" video. Managing risk is what executives must master to be successful. As part of a manager's daily routine, you should look to this video to gain some best practices on how to manage risk in a crisis.
6. Watch the "Counterfeit Culture" video. Consider the following as you watch: Everyone is aware of knock-off goods sold at bargain prices. Review this video while questioning how this criminal activity impacts business and why we have such a lenient attitude against this crime.
7. Most people are familiar with the basic types of crimes: murder, theft, fraud, etc. These are activities that are wrong by the moral code of the society and should be punished. For something to be a crime, a certain kind of evil intent is required of the perpetrator and for the most part there is near universal agreement by the members of the society that some particular behavior is wrong. There is another kind of “social wrong” however, sometimes referred to as a private wrong, where someone feels “wronged” by someone else. Unfortunately, it is much more generalized sense of wrong and for someone to be liable for that wrong, there must be some consensus, perhaps not a universal consensus, that some behavior is wrong in the context of what happened, a particular case. This is what a tort is. In this Week’s materials, you will read about the differences between a civil (non-criminal) wrong and a criminal wrong, or crime. Why would we draw a distinction, as we do between these two kinds of wrongs? What is the difference? Can you describe one or two key differences between these two kinds of wrongs?
the law seems to always be behind when legislating
Date Published: 29 January, 2018