...Ethical and Legal aspects of Business Management MGT/216 July 9, 2010 Ethical and Legal aspects of Business Management With so many companies’s being subpoenaed to court for an array of ethical issues, Presidents and CEO’s are making an asserted effort to instill a set of proposed values and ethical beliefs into their prospective employees from the hiring process to termination. Business owners often choose to make the prospective employee agree to the adherence of their ethical value system before being brought on for work within the company and throughout the employee’s career at the company. Legally, an agreement of some sort between employer and employee must be reached regarding the expected ethical standard and companies go about “getting the message across” in different ways. Some company’s choose to do this beginning with the company’s website in the form of a mission statement or core value. Constant reminders throughout orientations are utilized. And sometimes, companies place the ethical standards into their policy handbook so that in the event that after being hired the ethical values and standards that are expected from each employee are laid out for them in black and white. No matter how a business chooses to do it companies must adhere to the nations compliance laws or face possible litigation. During the course of this paper a closer look at the legal aspects of Hiring, performance evaluations, discipline and terminations will take place as well as an...
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...Unit Title |Starting a Small Business | Criteria Partially Covered |P4 M3 | | | |P4 – describe the legal and financial aspects that will affect the start up of the business | | | |M3 - M3 assess the implications of legal and financial aspects that will affect the start up of the business. | | | Task Introduction |You have been preparing a business proposal to show to your bank manager. The final part of your proposal will cover legal | |aspects of your business start up. | Legal aspects: legal status eg sole trader, partnership, limited company, franchise, cooperative; legal liabilities; trading terms and conditions; trading standards; licences; record keeping; resolving problems; national/local laws; regulations and bylaws;...
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...BTEC L3 Diploma in Business Unit 36: Starting a Small Business Assignment |Learning Outcomes | | | |To be able to present the initial business idea using relevant criteria | |Understanding the skills and development needed to run the business successfully | |Know the legal and financial aspects that will affect the start-up of the business | |be able to produce an outline business start-up proposal | |Scenario | |You have just completed a business course at Wolverhampton College and you are very interested in pursuing your dreams of | |starting your own business and being your own boss. | | | |Your Aunt and Uncle run a successful Property Management Company and they have proposed that if you can put together...
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...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 legal issues and guidelines which allows less...
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... |6 | |Pass 5/Distinction 1 | | | | |7 | How this unit works: You will be working in a small team (chosen by your tutor) throughout the unit. You will come up with a business idea together. Each team will occasionally be partnered with another group who will be known as your ‘critical friend team’. You will exchange ideas and feedback with them. • Your group will pitch the business idea to a panel who will decide whether to accept your idea, and who will also give you some advice and guidance • You will produce a report on your target market • You will be interviewed to find out what skills you have that can help the business and how you can improve • You will write about the legal and financial aspects that will affect your business • Throughout the year you will work, in your team and individually, to produce a written business plan (a proforma will be provided) • You will attempt to run your business (or a...
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...Chapter One Law, Value Creation, and Risk Management A Manager’s Dilemma: Putting It into Practice Guanxi: Networking or Bribery? Issue Presented: Should a business leader in China encourage a manager to run for office? Engage in guanxi lobbying to encourage district leaders to impose stiffer emissions and mileage requirements for heavy trucks? Hire the son of a prominent local official? Whenever engaging in international business development, managers are expected to exercise their responsibilities according to the laws and practices of the countries where they conduct business. However, a manager should also consider the ethical standards in the home country, where the firm is headquartered and where the board of directors will review his or her performance, as well as what the shareholders would consider ethically acceptable. In China, companies have a long history of engaging in political activities. Chinese executives are frequently elected to local or national government to engage in guanxi lobbying, where they are permitted to make charitable contributions and report issues relevant to their corporation to the government. The Election Act of China permits the local manager of Dexter’s affiliate to seek election as a congressperson while remaining on Dexter’s payroll. In light of this legislation, the manager could run for office and, if elected, lobby to persuade district leaders to impose stiffer emissions and mileage requirements for heavy...
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...wishes to start their own successful business, there are a lot of important factors to be considered in order for that to happen. The main factor is how the business is intended to be conducted, and characteristics such as liability, taxation, continuity, profit retention and sharing, and the conveniences and burdens associated with the business. It is important for a potential business owner or owners to be educated on the different types of business organizations and rules and regulations involved in order to select the entity that best meets their business needs. Sole Proprietorship The first and most common form of business organizational structure is known as a sole proprietorship. Not only is it the most common, but it is also the simplest form of business organizational structure to establish. The primary characteristic of a sole proprietorship is that it is simply owned and operated by one person. When operating a business as a sole proprietor, the business also operates under the name of the person who is considered the owner of the business. If one were to declare an actual name for the business other than that of the owner’s name, then the business would include the term “Doing Business As,” or simply, D.B.A. An example of this would be, John Doe D.B.A. John’s Landscaping Service. This way, one can see that it is John Doe who is the sole proprietor, but also chooses to use John’s Landscaping Service as an official name for the business. In determining if a sole proprietorship...
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...Addressing International Legal and Ethical Issues Simulation Summary LAW/421: Contemporary Business Law University of Phoenix Addressing International Legal and Ethical Issues Simulation Summary On 2007, CadMex created a technique to develop a quick manufacturing of medical agents. Meanwhile Gentura located in Candore which is under dictatorship, also developed a technique entitled ProPrez which is an anti-diabetic agent. After deliberation CadMex and Gentura decided to go into business together which would give you a global marketing position in the industry. CadMex was in a position where they needed a contract that would protect any interest concerning legal disputes and property rights. Dealing with finding solutions in legal issues actions against a foreign business may be a little tricky. Some legal systems may want to vastly push through cases rather than research the quality of the evidence provided. Another hindrance that may come up may be the difference of laws in the two countries. In some countries some contracts are done over the phone or understood with a simple handshake, for court purposes written documentations will not be available. In cases of this international barriers may cause a rift in legal actions and portray a differentiated experience for joining companies. Another aspect of legal actions taken against a foreign business based in another country is the fact of whether they have patent and trademark laws...
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...sole trader, or simply proprietorship is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the owner (subject to taxation specific to the business). All assets of the business are owned by the proprietor and all debts of the business are the proprietors'. This means that the owner has no lesser liability than if he was acting as individual instead of a business. It is a "sole" proprietorship in contrast with partnerships. A sole proprietor may do business with a trade name other than his or her legal name. Sometimes a sole proprietor is required to file a doing business as statement with a local government even if it is the same as his actual name[1] for certain types of businesses or as a requirement to open a business banking account. Advantages The many advantages of Corporations are described in that article; chiefly they are the ability to raise capital either publicly and privately, to limit the personal liability of the officers and managers, and to limit risk to investors. The disadvantages of corporations are advantages to proprietorship: reduced cost of doing business, as corporations must do many things like purchasing, accounting, and legal actions in more expensive ways and are subject to special taxes and fees; easier and cheaper to start and discontinue without required fees and legal expenses; and easier management, particularly when...
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...Social Media plays an important role in all aspects of businesses today. It has helped in turning communications into interactive dialogues among organizations, communities and individuals which has led to a much proper propagation of information. It may include web based or mobile based technologies and the existence in multiple forms has made it all the more tempting and has become a necessity today in the business world. Most company’s main goal is to keep its costs low. Companies do so by creating their own logistics and distribution of their products. They have managed to reduce costs by demanding high productivity from their employees, but wages paid do not meet the demand. They have also pushed many of their suppliers to outsource their products so they can produce more at a lower cost. Wal-Mart as an example attempts to conduct business practices by the law, but over the years have been subjected to over 5,000 lawsuits ranging from discrimination to unfair labor practices, which means that members of the corporation may not be following the laws as stated. There are also problems with suburban sprawl and lost jobs from outsourcing. To into my next point, I will state the four components of a legally astute manager. 1. A set of value laden attitudes about the importance of law to firm success. 2. A proactive approach to regulation. 3. The ability to exercise informed judgment when managing the legal aspects of business. 4. Context-specific knowledge of the law...
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...LEGAL ASPECTS OF BUSINESS The next big reform – GST Submitted to – Prof. I. Sridhar By, Ashwin R Golapkar Section E 2012PGP120 TABLE OF CONTENTS Introduction ....................................................................................................................................................... 3 Objectives of Tax reforms ............................................................................................................................. 5 Implementation of the Existing System .................................................................................................. 11 Shortcomings of the Existing Tax Structure .......................................................................................... 13 Alternatives Available in the implementation ....................................................................................... 18 Tax base and Rates ........................................................................................................................................ 25 Implementation of GST in other countries......................................................................................... 37 Data Analysis and Interpretation........................................................................................................... 38 BIBLIOGRAPHY ............................................................................................................................................. 40 LEGAL ASPECTS OF...
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...Functional Areas of Business The role of a manager is today’s modern business environment is becoming increasingly more complicated. Not only does a manager have to worry about directing the day-to-day responsibilities of his or her employees, but he or she also has to be concerned with all the different functional areas of the business. These functional areas include: * Management * Law * Human Resources Management * Leadership * Accounting * Finance * Economics * Research & Statistics * Operations Management * Marketing * Strategic Planning Functional Areas Each functional area of a business is typically established as its own department and led by a manager who is an expert in that field, but all are very closely interrelated. Management/Leadership The management and leadership functions very much go hand in hand. Management is responsibility of directing the day-to-day actions of a company’s employees, while leadership is the process with which that direction is given. A manager can easily tell an employee what to do, but that hardly makes them a leader. A leader inspires their employees by having an adaptable management style, exhibiting behaviors which empower employees, function as a role model, organizing an employee’s work so they are exposed to new experiences and grow, and give employees the autonomy to take risks (Warhurst, 2013). A leader is able to inspire an employee to what to perform better by illustrating...
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...Ethical Issues in Management Whilst society is essentially based upon performance and profit, it is not unusual to find that ethical issues abound in the process of the performance review. Social, moral, and economic pressures can also influence the ethical issues which are bound up in the performance review. To further complicate matters, there are often legal aspects that have to be considered, along with the ethical issues, that are influenced by the social, moral, and economic pressures, that are all bound up in the process of the performance review. It is hardly surprising that most managers and supervisors dread this part of their job. The following will describe a workplace example of the performance review process, including two ethical issues faced by the managers, the social, moral, and economic pressures that could influence the ethical issues, and some legal aspects faced during this process. Performance Review Process The Company, a successful retail corporation, has a policy of annual reviews for in store hourly employees on their anniversary dates. The reviews are on preprinted forms with number scores ranging from 1-poor to 4-excellent in twenty-five different categories. Annual raises are based on performance and the Company does not have an annual cost of living raise. Most in store hourly employees, in position for more than four years, will reach a raise cap for the position and then only receive a $0.05 an hour raise unless they have an excellent score...
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...Corporate social responsibility and minimum legal expectation Over the last few decades, the issues of corporate social responsibility have become the focus of society. Especially after many company scandals emerged (such as Enron and Libor scandals), the public are more curious about the CSR and the its legal expectation. Some countries have already set mandatory regulation about the CSR. For example, in Australia the Corporations Act 2001 stated that companies need to disclose environmental performance and another Act[1] requires certain companies to provide the information about greenhouse gas emissions. However, in the UK, the regulations mainly govern financial disclosures[2] and there are few regulations about the CSR of company. In the aspect of law, the Companies Act 2006 s.172[3] set some duties for the directors to promote the success of company which are in relation to legal expectation of the corporate social responsibility. The notion of CSR and the relationship between CSR and its legal expectation is the main of this essay. This essay will critically discuss the notion of corporate social responsibility and giving particular attention to minimum legal expectations. The structure is as follows: in the section 1, we are focus on the discussion in relation to many kinds of the definition of corporate social responsibility. In the section 2, we will discuss the notion of CSR through different theory perspectives and the minimum legal expectation. In the section 3, after...
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...Ethical Issues in Management Jaceson Bradford MGT 216 May 3, 2010 Bill Link Introduction In today’s workplace it is important to understand how making an accurate hiring decision can affect the organization. With jobs becoming increasingly difficult to arrive at because of the economy, applicants for employment are willing to misrepresent their credentials in the application process. Managers are faced with ethical and legal aspects of hiring along with social issues that make ethically responsible management practices increasingly important. This paper will provide information about ethical and legal aspects associated with hiring and provide moral and ethical issues faced by managers. This paper will also describe the relationship between social issues and ethically responsible practices that relate to hiring. Moral and Ethical Issues Many people don’t understand the cost related to making a poor hiring decision. From productivity, customer service, and liability prospective have been widely studied and has been estimated to be three times the annual salary of the individual involved (Calvasina, Calvasina, & Calvasina 2008). Therefore, it is important for managers to make their decisions of an applicant based on skills as well as moral and ethical values. It is very difficult at times for managers because their responsibilities include not only hiring, but also promotion, conduct of employees, and motivation. But it is even more important...
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