SOLUTION MANUAL Business Law: Text & Exercises (MindTap Course List) 10th Edition by Roger LeRoy Miller, William E. Hollowell

Business Law: Text & Exercises(MindTap Course List)
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SOLUTIONMANUAL v




Business Law:Text&Exercises(MindTapCourse List)
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10thEditionbyRoger LeRoyMiller,William E.Hollowell
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website, in whole or in part.
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, Business Law: Text & Exercises(MindTap Course List)
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Chapter 1 v




Table of Contents v v




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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, Business Law: Text & Exercises(MindTap Course List) v v v v v v v




Purpose and Perspective of the Chapter v v v v v




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




The following product-level supplements provide additional information that may help you in
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preparing your course. They are available in the Instructor Resource Center.
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• PowerPoint Deck v




List of Student Downloads
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Students should download the following items from the Student Companion Center to completethe
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activities and assignments related to this chapter:
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• PowerPoint Deck (without teaching notes, activities, or answers) v v v v v v v




Chapter Objectives v




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




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




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




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




Key Terms v




business ethics: Ethics in a business context; a consensus of what constitutes right or wrong
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behavior in the world of business and the application of moral principles to situations that arisein a
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business setting.
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categorical imperative: A concept developed by the philosopher Immanuel Kant as an ethical
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guideline for behavior. In deciding whether an action is right or wrong, or desirable or undesirable,
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a person should evaluate the action in terms of what would happen if everybody else in the same
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situation, or category, acted the same way.
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corporate social responsibility (CSR): The concept that corporations can and should act
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ethically and be accountable to society for their actions.
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cost-benefit analysis: A decision-making technique that involves weighing the costs of a given
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action 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
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others, including both humans and the planet. Those duties may be derived from religious principles
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or from other philosophical reasoning.
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ethical reasoning: A reasoning process in which an individual links his or her moral convictionsor
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ethical standards to the particular situation at hand.
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, Business Law: Text & Exercises(MindTap Course List) v v v v v v v




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 is
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usually defined as compliance with the law.
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outcome-based ethics: An ethical philosophy that focuses on the impacts of a decision on v v v v v v v v v v v v v




society or on key stakeholders.
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outsourcing: The practice by which a company hires an outside firm or individual to perform
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work rather than hiring employees.
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principle of rights: The principle that human beings have certain fundamental rights (to life,
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freedom, and the pursuit of happiness, for example). A key factor in determining whether a
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business decision is ethical under this theory is how that decision affects the rights of others,such
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as employees, consumers, suppliers, and the community.
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stakeholders: Groups, other than the company’s shareholders, that are affected by corporate v v v v v v v v v v v




decisions. Stakeholders include employees, customers, creditors, suppliers, and the communityin
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which the corporation operates.
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triple bottom line: The idea that investors and others should consider not only corporate
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profits, but also the corporation’s impact on people and on the planet in assessing the firm. (The
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bottom line is people, planet, and profits.)
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utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related toan
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evaluation 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
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number of people affected by the decision.
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What's New in This Chapter v v v v




The following elements are improvements in this chapter from the previous edition:
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• New chapter title and chapter-opening introduction scenario discussing recent
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technology scandal involving finger-prick blood test kits
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• New chapter organization and subheads throughout (including new headings for
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―outsourcing‖ and ―corruption‖) v v




• 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 analyzev v v v v v v v v v v v v v v




ethics, including in all of the new ―A Question of Ethics‖ problems in the remaining
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chapters.
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o New―ApplicationoftheIDDRApproach‖subsectionwithstep-by-stepdiscussionand
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sample scenario.
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• 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the Sample
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Dilemma (for new IDDR Approach)
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o 1 New Term & Concept
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• outsourcing
• 1 New Ethics Today feature—
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