...BUSINESS PRACTICE LAWS IN THE U.S. DeVry University Business Laws Effective or Not When referring to the business practice laws or the Antitrust laws, I feel that they are effective. They are setup to make things somewhat fair in the business world and allowing companies to be competitive, at the same time protecting consumers. These laws promote vigorous competition and protect consumers from anticompetitive mergers and business practices (FTC). They also are setup to benefit the consumer, by having incentives for businesses to operate, keep prices down, and by keeping the quality up. These laws also, make it fair to the other companies and stop companies from monopolizing. By setting up the law of stopping monopolies, has also ensured there is effective economy. This was done in the late 1890’s with the Sherman Antitrust Act. The act's primary goal was to limit the expansion of monopolies, the restriction of free trade (competition) and the imposition of price fixing by industry members or any combination of business practices that led to the restriction of trade (Heakel, 2010). This allows for more competition, which has helped the consumer able to get the best price for their money and also allowing the consumer to have a choice in where to buy a product. So, basically there are many sellers busily competing against one another to sell a particular kind of product or service to paying customers, no seller will be able to take unfair advantage of the buyers, but...
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...Business Ethics and Corporate Social Responsibility April Duhon DeVry University The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? The effectiveness of the laws that the United States have that are intended to further fair, balanced, and competitive business practices depends on how ethical a business is. Below I will explain why I do not believe these laws are effective due to the way ethical businesses follow the law and unethical businesses do not follow the law. In response to the growth of monopolies that threatened to destroy competition in the marketplace Congress passed the Sherman Antitrust Act in 1890. According to the Encyclopedia of White-Collar & Corporate Crime, “The Sherman Act was officially enacted because companies in various industry groups were attempting to eliminate their competition in the marketplace, thus hurting the economy.” (Encyclopedia of White-Collar & Corporate Crime, 2004, p. Introduction) The Sherman Act has two provisions in place to prevent this. The first stops the restraints of trading between states or foreign nations and the second makes monopolies illegal. The penalties for violating the Sherman Act are severe and include prison time of up to 10 years and a $1 million dollar fine for Individuals and $100 million dollar fines for businesses. The Clayton Act was passed by congress in 1914 to...
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...Making Effective and Ethical Decisions Rose Johnson MGT400_M4_A2 Devry University April 15, 2013 Making Effective and Ethical Decisions Making ethical decisions requires the ability to make distinctions between competing choices. “Ethical decisions are guided by the underlying values of the individual. Values are principles of conduct such as caring, being honest, showing loyalty, acting with integrity, respecting others, and being a responsible citizen (Bateman, 2009. p.168)”. When conversing concerns of ethical conduct in the office employees must realize that culture plays a massive part on how an individual creates ethical decision. Ethical problems in the office may contribute from incorrect employees’ conduct, which includes stock trading, sexual harassment, account fraud, and participation in conflicts of interest. To accomplish the desires of these strategies, the businesses will create a written principles of ethical behaviors for implementing these strategies, allocate accountability to executive leaders to confirm that the policy is functioning as planned, dismiss any person who disrupts the values from practicing management titles, offer training in ethics to workers, observe compliance, provide employees compensation for obeying the policies and reply with penalties if illegal behavior comes to surface (Healthfield, 2013). The company must consider ethics training in order to take advantage of the ethic policies in place. The ability...
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...progressive era. One of the most controversial question about the progressive era is “was the progressive era effective?” There were many things that made this era very effective. William Howard Taft once said “we are all imperfect, we cannot expect perfect government.” The progressive era was effective because women got the right to vote, monopolies and bad trusts were stopped, business got more fair, and child labor laws were put into place. Women got the right to vote in the progressive era! The 19th amendment allowed women to vote. As Susan B. Anthony once said that “there never will be complete equality until women themselves help to make laws and elect lawmakers.” Suffragist such as Susan B. Anthony worked very hard for this to be allowed. You may know another women who took more violent actions on the topic, Carrie Nation. The 19th amendment was passed on June 4. 1919 and was ratified on August 18, 1920. This amendment obviously doubled the amount of voters, but also doubled the chances for presidents d created more equalness....
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...Week 3 Research Paper DeVry University The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? If so, why? If not, why not? Be sure to provide evidence to support your position one way or the other. Before the late 1800’s there were no laws to protect consumers and the process of competition. Often times, the consumers and the well being of all were not taken into consideration before these antitrust laws were put into act. The business owners were more often than less, only looking to make a profit no matter what that took. Thankfully, in 1890 Congress passed the first antitrust law, the Sherman Act as a “comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade.” This law states that, “This Act outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade. This includes agreements among competitors to fix prices, rig bids, and allocate customers, which are punishable as criminal felonies.” (www.ourdocuments.gov/, 2014) A law designed to restore competition and free enterprise by breaking up monopolies. The original intention of the Sherman Antitrust Act was to protect consumers from big businesses that were using unscrupulous means to raise prices artificially, such as intentionally producing too few goods to meet consumer demand and thereby driving up the products'...
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...PrinciPles on Business and Human riGHts Implementing the United Nations “Protect, Respect and Remedy” Framework GuidinG PrinciPles on Business and Human riGHts Implementing the United Nations “Protect, Respect and Remedy” Framework New York and Geneva, 2011 Note The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Symbols of United Nations documents are composed of capital letters combined with figures. Mention of such a figure indicates a reference to a United Nations document. HR/PUB/11/04 © 2011 United Nations All worldwide rights reserved iii contents I. THE STATE DUTY TO PROTECT HUMAN RIGHTS A. FOUNDATIONAl PRINCIPlES B. OPERATIONAl PRINCIPlES 3 3 4 II. THE CORPORATE RESPONSIBIlITY TO RESPECT HUMAN RIGHTS A. FOUNDATIONAl PRINCIPlES B. OPERATIONAl PRINCIPlES 13 13 16 III. ACCESS TO REMEDY A. FOUNDATIONAl PRINCIPlE B. OPERATIONAl PRINCIPlES 27 27 28 iv This publication contains the "Guiding Principles on Business and Human Rights: Implementing the United Nations ‘Protect, Respect and Remedy’ Framework", which were developed by the Special Representative of the Secretary-General on the issue of human rights and transnational corporations and other business enterprises. The...
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...Research Paper The United States has several laws that are intended to further fair, balanced, and competitive business practices. Do you think that such laws are effective? Competition Law I do believe that the competition law is effective because it helps businesses because it can protect the company’s position in the marketplace due to anticompetitive mergers and business practices. This enables markets to work more for the interest of the consumer and in return expand their profits. Businesses that practice unfairly, like offering discounts at a predatory level, abusing a position, unfair trading conditions or involving themselves in an anti-competitive behavior will face a fine based on their annual turnover. What they are doing is exposing themselves to damaging actions. In an open market you have aggressive competition by both the individuals and the businesses. The benefits of lower prices, high quality and greater innovation. So you need to be able to stay up to date with the laws policies. Some of the benefits of the competition law are for starters enables you to identify and new changes and opportunities and you business. Also helps you in return to make sure that you are complying with the latest rules. Some other benefits are trademark policies. One could be looking at infringement by unfair use of the rights the trademark is attached to. Trade defamation is another example as to how this law protects a business. This charge can either be civil or criminal...
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...businesses. Without an effective plan a business will have no clear direction. With no direction a business will surely be in legal turmoil. Once in legal turmoil, a business will fail. Business Overview Riordan Manufacturing is a global plastics manufacturer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Its products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities in Hangzhou, China. The company's research and development is done at the corporate headquarters in San Jose. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. Legal Liability of Administration Riordan Manufacturing’s Corporate Compliance plan is for all employees. Compliance with the program starts with the officers and directors of Riordan. All employees of Riordan are expected to follow the set standards. The administration of Riordan is no exception to the set standards. The Corporate Compliance Plan will focus on the liability of the officers and directors of Riordan Manufacturing. Legal Options When legal problems arise for Riordan Manufacturing, the easiest and cost effective method will be used. When...
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...1: Social Media Shannon Pindle Date: August 12, 2014 Class Name: Leg 100- Business Law Professor Latarsha Jones A legally astute manager recognizes and shows an appreciation for the law and identifies and makes legal considerations at each level of development and implementation. Respect for the law serves as the building blocks in the development of a management team. Following appropriate behaviors and adhering to the guidelines in the law represents the importance of meeting societal expectations and norms (Bagley, 2013 page 15). This set of attitudes that is value laden can mitigate the risk involved in doing business in Facebook. Violence and suffering is often continuous in a media culture. This can sometimes cause an indifference to the vision of human suffering (Chacksfield, 2009). A legally astute marketing manager can acquire the data, consumer feedback and reactions which represents moral concerns. Collaborative efforts of the marketing manager can be made to create sites that represents standards of how society’s behavior should be and drive all aspects of a management teams. The legally astute marking manager seeks legal counsel, advice, and guidance and is proactive in addressing the legal dimensions of business. All concerns should be addressed in ways that are effective, efficient, and legally permissible (Bagley, 2009, page 13). Legal advice in all aspects of the business allows a legally astute manager to be proactive as opposed to being reactive in...
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...Measuring the Effectiveness of Business Practice Laws Jennifer Torres Fuentes DeVry University Measuring the Effectiveness of Business Practice Laws In the world of business, laws that are intended to protect and ensure fairness amongst competitors and consumers have their ups and downs when it comes to how effective they really are. There are various policies and procedures that are put in place in an attempt to promote fair, balanced and competitive business practices, whose effectiveness suffers because of a lack of enforcement to their terms. Until society as a whole owns up to how badly we have reverted into unethical and demoralized behavior, the effectiveness of laws put into place to encourage us to practice socially responsible behavior will not be effective. When the needs of the many supersedes the needs of the few, only then will these laws, policies and procedures put in place to encourage socially responsible behavior being to have any real effect. The Federal Trade Commission (FTC) enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation. The Commission has enforcement or administrative responsibilities under more than 70 laws. They are grouped in three categories: (a) Statutes relating to both the competition and consumer...
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...Role and function of Law 2 Role and Function of Law “Law plays an important role in the successful operation of business and society” (Bushman, 2007). Laws put rules and regulation in place to maintain good conduct in our environment. Laws bring peace between people in many different ways. Consequences to broken laws help to control behavior and keep our standards in order. Laws can be difficult to understand because there are many different kinds. Taking responsibility to understand the law is important to establish peace and fairness in our society. Without law, the country could be a dangerous place. The government would be difficult to run without rules and regulations. Laws give us harmony in our society allowing us to operate efficient and effectively. What is Law? According to Melvin law is “a body of rules of actions or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011). Laws involve having a set of firm rules that make people answer to actions if laws are dishonored or broken. Law is essential to have during uncertain times dealing with disagreements between businesses, government, and people in our society. Roles and Function of Law in Business Business owners have laws set in place which limits their power of how their business is operated. The law enforces fair opportunity to potential employees going through hiring processes. Business owners are given limited power to protect different races and genders from discrimination...
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...Antitrust Laws for Fair and Competitive Business Laws in the United States that aim to promote fair, balanced, and competitive business practices are known as antitrust laws. According to Bovée & Thill, (2013), “Antitrust laws limit what businesses can and cannot do to ensure that all competitors have an equal chance of succeeding” (p.40). Three such laws are The Sherman Act, The Federal Trade Commission Act, and The Clayton Act. These laws (particularly The Sherman Act) provide general guidelines for business practices, but not all of them define specific rules that a business must follow. There are too many situations that may arise for each one to be addressed. Therefore, when a business is accused of breaking an antitrust law, the outcome must be determined by the courts, leaving the results open to subjective interpretation given the circumstances. Because these laws are general outlines for acceptable business practices, there are ways that they can be circumnavigated. Despite these challenges, antitrust laws are effective in reducing, although not eliminating, unethical business practices in the U.S. However their reach does not extend to many aspects of international business. The Sherman Act, passed by Congress in 1890, (“The Antitrust Laws,” n.d.) protects against a restraint of trade. In other words, it restricts individuals or businesses from carrying out a particular policy or agreement that prevents other businesses from competing fairly for a portion of the...
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...trading and business has also instigated the escalation of cybercrime activities. The business and individuals are prone to numerous risks of financial losses through white-collar crimes. The laws and regulation to reduce white-collar internet crime should be improved and implemented. The process of recoup of losses for victims of cybercrime is complicated and could be very time consuming, not to mention very costly. Although, after winning the lawsuit, lawyer fees can be asked to be compensated, but in the beginning, the lawyer fees are the company’s or individual’s responsibility. It requires adequate measures for dressing of the grievances. The involvement of political parties in personal and political white-collar crimes are challenges for an effective legal system. The economic conditions and lack of jobs lead to vocational crimes. White-collar legislation: There are multiple types of white-collar crime and the case law has recognized several types. It is evident that insider trading has been recognized well before other cybercrimes as an important type of white-collar crime. The provisions of law as well as the remedies available for white-collar crime are developed and improved frequently in today’s world. The changes in technology and online presence of shopping, trading, and e-commerce activity is also prone to fraud and numerous other crimes. The online identities are used in several ways by criminals to unlawfully damage the financial, business, and trade...
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...the same: to meet the organization’s needs for information as efficiently as possible. Many factors affect the structure of the accounting system within a particular organization. Among the most important are (1) the company’s needs for accounting information and (2) the resources available for operation of the system. Describing accounting as an information system focuses attention on the information accounting provides, the users of the information, and the support for financial decisions that is provided by the information. These relationships are depicted in Exhibit 1–2. While some of the terms may not be familiar to you at this early point in your study of business and accounting, you will be introduced to them more completely as we proceed through this textbook and as you undertake other courses in business and accounting. Observe, however, that the information system produces the information presented in the middle of the diagram—financial position, profitability, and cash flows. This information meets the needs of users of the...
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...International Business Management Set up and operate a Business in Foreign Country Abstract This paper deals with the international business. It emphasizes on the means to start the business and the cost associated with the initiation of the business. It also describes the most important aspect of managing human resource. Because of the competitive environment, the need to do the business internationally has increased. This paper provides the overview of the two countries i.e. china and South Africa. Broad description of the legal processes that were supposed to be followed by the company to initiate business in the China has been explained. Apart from this, the staffing of local and expatriate staff along with the labor organization and legislation of the foreign country has been described. Therefore, the paper provides detailed analysis of the conditions that should be kept in mind while establishing business in the foreign country. Introduction International business is a term, which is used collectively to describe issues relating to the firm’s operations with interests in numerous countries. These firms are sometimes referred as multinational corporations. The main area of concern in the international business is the cultural considerations. These considerations include dissimilarity in law and legal systems, living standards, language barriers, climate and many more (Cherunilam, 2005). All these issues need to be overcome for an MNC in order to obtain success in...
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