Solution Manual For Business Law: Text & Exercises, 10th Edition by Roger LeRoy Miller, William E. Hollowell, Verified Chapters 1 - 43, Complete Newest Version

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,Chapter 1 cy




Table of Contents cy cy




Purpose and Perspective of the Chapter ........................................................................................2
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Cengage Supplements ................................................................................................................2
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List of Student Downloads .........................................................................................................2
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Chapter Objectives ......................................................................................................................2
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Key Terms ...................................................................................................................................2
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What's New in This Chapter...........................................................................................................3
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Chapter Outline ...........................................................................................................................4
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Discussion Questions ..................................................................................................................8
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Additional Resources .................................................................................................................10
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Cengage Video Resources .....................................................................................................10
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Appendix ...................................................................................................................................10
Generic Rubrics .....................................................................................................................10
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Standard Writing Rubric ..........................................................................................................10
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Standard Discussion Rubric ....................................................................................................12
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,Purpose and Perspective ofthe Chapter cy cy cy cy cy




The purpose of this chapter is to examine the relationship between law and ethics. The chapterprese
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nts issues involved to determining the ethical responsibilities of businesses and provides students a
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framework for analyzing and making ethical decisions. cy cy cy cy cy cy




Cengage Supplements cy




The following product-cy cy




level supplements provide additional information that may help you inpreparing your course. They
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are available in the Instructor Resource Center.
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 PowerPoint Deck cy




ListofStudentDownloads y
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Students should download the following items from the Student Companion Center to completethe act
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ivities and assignments related to this chapter:
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 PowerPoint Deck (without teaching notes, activities, or answers) cy cy cy cy cy cy cy




ChapterObjectives cy




The following objectives are addressed in this chapter:
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1. Discuss how business can discourage unethical behavior cy cy cy cy cy cy




2. Explain the relationship between law and ethics cy cy cy cy cy cy




3. Compare duty-based ethics and utilitarian ethics cy cy cy cy cy




4. Identify ethical problems in the global context cy cy cy cy cy cy




Key Terms cy




business ethics: Ethics in a business context; a consensus of what constitutes right or wrong behav
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ior in the world of business and the application of moral principles to situations that arisein a business
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setting.
categorical imperative: A concept developed by the philosopher Immanuel Kant as an ethicalguid cy cy cy cy cy cy cy cy cy cy cy cy y
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eline for behavior. In deciding whether an action is right or wrong, or desirable or undesirable, a pers
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on should evaluate the action in terms of what would happen if everybody else in the same situation,
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or category, acted the same way.
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corporate social responsibility (CSR): The concept that corporations can and should acteth
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ically and be accountable to society for their actions.
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cost-benefit analysis: A decision- cy cy cy




making technique that involves weighing the costs of a givenaction against the benefits of the action.
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duty-
based ethics: An ethical philosophy rooted in the idea that every person has certain dutiesto others, in
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cluding both humans and the planet. Those duties may be derived from religious principles or from oth
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er philosophical reasoning.
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ethical reasoning: A reasoning process in which an individual links his or her moral convictionsor et
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hical standards to the particular situation at hand.
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, ethics: Moral principles and values applied to social behavior.
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moral minimum: The minimum degree of ethical behavior expected of a business firm, which isusual
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ly defined as compliance with the law.
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outcome-
based ethics: An ethical philosophy that focuses on the impacts of a decision onsociety or on ke
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y stakeholders.
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outsourcing: The practice by which a company hires an outside firm or individual to performwork r cy cy cy cy cy cy cy cy cy cy cy cy cy cy y
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ather than hiring employees. cy cy cy




principle of rights: The principle that human beings have certain fundamental rights (to life,freed
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om, and the pursuit of happiness, for example). A key factor in determining whether a business dec
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ision is ethical under this theory is how that decision affects the rights of others,such as employees,
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consumers, suppliers, and the community.
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stakeholders: Groups, other than the company’s shareholders, that are affected by corporate deci cy cy cy cy cy cy cy cy cy cy cy cy




sions. Stakeholders include employees, customers, creditors, suppliers, and the communityin whic
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h the corporation operates.
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triple bottom line: The idea that investors and others should consider notonly corporate
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profits, but also the corporation’s impact on people and on the planet in assessing the firm. (Thebottom
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line is people, planet, and profits.)
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utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related toan ev cy cy cy cy cy cy cy cy cy cy cy cy cy y
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aluation of the consequences of a given action on those who will be affected by it. In
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utilitarian reasoning, a ―good‖ decision is one that results in the greatest good for the greatest number of
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people affected by the decision.
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What's New in This Chapter cy cy cy cy




The following elements are improvements in this chapter from the previous edition:
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 New chapter title and chapter- cy cy cy cy




opening introduction scenario discussing recenttechnology scandal involving fing cy cy cy cy y
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er-prick blood test kits cy cy cy




 New chapter organization and subheads throughout (including new headings for
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―outsourcing‖ and ―corruption‖) cy cy




 New section on Making Ethical Business Decisions and new materials on Systematic
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Approach: IDDR (―I desire to do right‖) that will be used throughout the text to analyze ethics, i cy cy cy cy cy cy cy cy cy cy cy cy cy cy cy cy cy




ncluding in all of the new ―A Question of Ethics‖ problems in the remaining chapters. cy cy cy cy cy cy cy cy cy cy cy cy cy cy




o New―ApplicationoftheIDDRApproach‖subsectionwithstep-by- cy cy cy cy y
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stepdiscussionand sample scenario. cy cy cy cy




 1 New Exhibit 3– cy cy cy




1: An Analysis of Ethical Approaches to the SampleDilemma (for new I cy cy cy cy cy cy cy cy y
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DDR Approach) cy




o 1 New Term & Concept cy cy cy cy




 outsourcing
 1 New Ethics Today feature—
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