Business Law: Text & Exercises (MindTap Course List)
n n n n n n n
SOLUTIONMANUAL n
Business Law:Text & Exercises (MindTap Course List)
n n n n n n n
10thEdition by Roger LeRoy Miller,William E.Hollowell
n n n n n n n n
1
website, in whole or in part.
n n n n n
, Business Law: Text & Exercises (MindTap Course List)
n n n n n n n
Chapter 1 n
Table of Contents n n
Purpose and Perspective of the Chapter................................................................................................................... 2
n n n n n
Cengage Supplements................................................................................................................................................... 2
n
List of Student Downloads ........................................................................................................................................ 2
n n n
Chapter Objectives .......................................................................................................................................................... 2
n
Key Terms ........................................................................................................................................................................... 2
n
What's New in This Chapter .......................................................................................................................................... 3
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Chapter Outline ................................................................................................................................................................ 4
n
Discussion Questions ..................................................................................................................................................... 8
n
Additional Resources................................................................................................................................................... 10
n
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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2
website, in whole or in part.
n n n n n
, Business Law: Text & Exercises (MindTap Course List) n n n n n n n
Purpose and Perspective of the Chapter n n n n n
The purpose of this chapter is to examine the relationship between law and ethics. The chapter
n n n n n n n n n n n n n n n
presents issues involved to determining the ethical responsibilities of businesses and provides
n n n n n n n n n n n n
students a framework for analyzing and making ethical decisions.
n n n n n n n n n
Cengage Supplements n
The following product-level supplements provide additional information that may help you in
n n n n n n n n n n n
preparing your course. They are available in the Instructor Resource Center.
n n n n n n n n n n n
• PowerPoint Deck n
List of Student Downloads
n n n
Students should download the following items from the Student Companion Center to completethe
n n n n n n n n n n n n n
activities and assignments related to this chapter:
n n n n n n n
• PowerPoint Deck (without teaching notes, activities, or answers) n n n n n n n
Chapter Objectives n
The following objectives are addressed in this chapter:
n n n n n n n
1. Discuss how business can discourage unethical behavior n n n n n n
2. Explain the relationship between law and ethics n n n n n n
3. Compare duty-based ethics and utilitarian ethics n n n n n
4. Identify ethical problems in the global context n n n n n n
Key Terms n
business ethics: Ethics in a business context; a consensus of what constitutes right or wrong
n n n n n n n n n n n n n n
behavior in the world of business and the application of moral principles to situations that arisein a
n n n n n n n n n n n n n n n n n n
business setting.
n n
categorical imperative: A concept developed by the philosopher Immanuel Kant as an ethical
n n n n n n n n n n n n
guideline for behavior. In deciding whether an action is right or wrong, or desirable or undesirable,
n n n n n n n n n n n n n n n n
a person should evaluate the action in terms of what would happen if everybody else in the same
n n n n n n n n n n n n n n n n n n
situation, or category, acted the same way.
n n n n n n n
corporate social responsibility (CSR): The concept that corporations can and should act
n n n n n n n n n n n
ethically and be accountable to society for their actions.
n n n n n n n n n
cost-benefit analysis: A decision-making technique that involves weighing the costs of a given
n n n n n n n n n n n n
action against the benefits of the action.
n n n n n n n
duty-based ethics: An ethical philosophy rooted in the idea that every person has certain dutiesto
n n n n n n n n n n n n n n n
others, including both humans and the planet. Those duties may be derived from religious
n n n n n n n n n n n n n n
principles or from other philosophical reasoning.
n n n n n n
ethical reasoning: A reasoning process in which an individual links his or her moral convictionsor
n n n n n n n n n n n n n n n
ethical standards to the particular situation at hand.
n n n n n n n n
3
website, in whole or in part.
n n n n n
, Business Law: Text & Exercises (MindTap Course List) n n n n n n n
ethics: Moral principles and values applied to social behavior.
n n n n n n n n
moral minimum: The minimum degree of ethical behavior expected of a business firm, which is
n n n n n n n n n n n n n n
usually defined as compliance with the law.
n n n n n n n
outcome-based ethics: An ethical philosophy that focuses on the impacts of a decision on n n n n n n n n n n n n n
society or on key stakeholders.
n n n n n
outsourcing: The practice by which a company hires an outside firm or individual to perform
n n n n n n n n n n n n n n
work rather than hiring employees.
n n n n n
principle of rights: The principle that human beings have certain fundamental rights (to life,
n n n n n n n n n n n n n
freedom, and the pursuit of happiness, for example). A key factor in determining whether a
n n n n n n n n n n n n n n n
business decision is ethical under this theory is how that decision affects the rights of others,
n n n n n n n n n n n n n n n n
such as employees, consumers, suppliers, and the community.
n n n n n n n n
stakeholders: Groups, other than the company’s shareholders, that are affected by corporaten n n n n n n n n n n
decisions. Stakeholders include employees, customers, creditors, suppliers, and the communityin
n n n n n n n n n n n
which the corporation operates.
n n n n
triple bottom line: The idea that investors and others should consider not only corporate
n n n n n n n n n n n n n
profits, but also the corporation’s impact on people and on the planet in assessing the firm. (The
n n n n n n n n n n n n n n n n
bottom line is people, planet, and profits.)
n n n n n n n
utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related toan
n n n n n n n n n n n n n n
evaluation of the consequences of a given action on those who will be affected by it. In
n n n n n n n n n n n n n n n n n
utilitarian reasoning, a ―good‖ decision is one that results in the greatest good for the greatest
n n n n n n n n n n n n n n n
number of people affected by the decision.
n n n n n n n
[return to top] n n
What's New in This Chapter n n n n
The following elements are improvements in this chapter from the previous edition:
n n n n n n n n n n n
• New chapter title and chapter-opening introduction scenario discussing recent
n n n n n n n n
technology scandal involving finger-prick blood test kits
n n n n n n n
• New chapter organization and subheads throughout (including new headings for
n n n n n n n n n
―outsourcing‖ and ―corruption‖) n n
• New section on Making Ethical Business Decisions and new materials on Systematic
n n n n n n n n n n n
Approach: IDDR (―I desire to do right‖) that will be used throughout the text to analyzen n n n n n n n n n n n n n n
n ethics, including in all of the new ―A Question of Ethics‖ problems in the remaining
n n n n n n n n n n n n n n
n chapters.
o New―Application of theIDDR Approach‖ subsection with step-by-step discussionand
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sample scenario.
n n
• 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the Sample
n n n n n n n n n n n
Dilemma (for new IDDR Approach)
n n n n n
o 1 New Term & Concept
n n n n
• outsourcing
• 1 New Ethics Today feature—
n n n n
4
website, in whole or in part.
n n n n n
n n n n n n n
SOLUTIONMANUAL n
Business Law:Text & Exercises (MindTap Course List)
n n n n n n n
10thEdition by Roger LeRoy Miller,William E.Hollowell
n n n n n n n n
1
website, in whole or in part.
n n n n n
, Business Law: Text & Exercises (MindTap Course List)
n n n n n n n
Chapter 1 n
Table of Contents n n
Purpose and Perspective of the Chapter................................................................................................................... 2
n n n n n
Cengage Supplements................................................................................................................................................... 2
n
List of Student Downloads ........................................................................................................................................ 2
n n n
Chapter Objectives .......................................................................................................................................................... 2
n
Key Terms ........................................................................................................................................................................... 2
n
What's New in This Chapter .......................................................................................................................................... 3
n n n n
Chapter Outline ................................................................................................................................................................ 4
n
Discussion Questions ..................................................................................................................................................... 8
n
Additional Resources................................................................................................................................................... 10
n
Cengage Video Resources .................................................................................................................................... 10
n n
Appendix ......................................................................................................................................................................... 10
Generic Rubrics ......................................................................................................................................................... 10
n
Standard Writing Rubric......................................................................................................................................... 10
n n
Standard Discussion Rubric .................................................................................................................................. 12
n n
2
website, in whole or in part.
n n n n n
, Business Law: Text & Exercises (MindTap Course List) n n n n n n n
Purpose and Perspective of the Chapter n n n n n
The purpose of this chapter is to examine the relationship between law and ethics. The chapter
n n n n n n n n n n n n n n n
presents issues involved to determining the ethical responsibilities of businesses and provides
n n n n n n n n n n n n
students a framework for analyzing and making ethical decisions.
n n n n n n n n n
Cengage Supplements n
The following product-level supplements provide additional information that may help you in
n n n n n n n n n n n
preparing your course. They are available in the Instructor Resource Center.
n n n n n n n n n n n
• PowerPoint Deck n
List of Student Downloads
n n n
Students should download the following items from the Student Companion Center to completethe
n n n n n n n n n n n n n
activities and assignments related to this chapter:
n n n n n n n
• PowerPoint Deck (without teaching notes, activities, or answers) n n n n n n n
Chapter Objectives n
The following objectives are addressed in this chapter:
n n n n n n n
1. Discuss how business can discourage unethical behavior n n n n n n
2. Explain the relationship between law and ethics n n n n n n
3. Compare duty-based ethics and utilitarian ethics n n n n n
4. Identify ethical problems in the global context n n n n n n
Key Terms n
business ethics: Ethics in a business context; a consensus of what constitutes right or wrong
n n n n n n n n n n n n n n
behavior in the world of business and the application of moral principles to situations that arisein a
n n n n n n n n n n n n n n n n n n
business setting.
n n
categorical imperative: A concept developed by the philosopher Immanuel Kant as an ethical
n n n n n n n n n n n n
guideline for behavior. In deciding whether an action is right or wrong, or desirable or undesirable,
n n n n n n n n n n n n n n n n
a person should evaluate the action in terms of what would happen if everybody else in the same
n n n n n n n n n n n n n n n n n n
situation, or category, acted the same way.
n n n n n n n
corporate social responsibility (CSR): The concept that corporations can and should act
n n n n n n n n n n n
ethically and be accountable to society for their actions.
n n n n n n n n n
cost-benefit analysis: A decision-making technique that involves weighing the costs of a given
n n n n n n n n n n n n
action against the benefits of the action.
n n n n n n n
duty-based ethics: An ethical philosophy rooted in the idea that every person has certain dutiesto
n n n n n n n n n n n n n n n
others, including both humans and the planet. Those duties may be derived from religious
n n n n n n n n n n n n n n
principles or from other philosophical reasoning.
n n n n n n
ethical reasoning: A reasoning process in which an individual links his or her moral convictionsor
n n n n n n n n n n n n n n n
ethical standards to the particular situation at hand.
n n n n n n n n
3
website, in whole or in part.
n n n n n
, Business Law: Text & Exercises (MindTap Course List) n n n n n n n
ethics: Moral principles and values applied to social behavior.
n n n n n n n n
moral minimum: The minimum degree of ethical behavior expected of a business firm, which is
n n n n n n n n n n n n n n
usually defined as compliance with the law.
n n n n n n n
outcome-based ethics: An ethical philosophy that focuses on the impacts of a decision on n n n n n n n n n n n n n
society or on key stakeholders.
n n n n n
outsourcing: The practice by which a company hires an outside firm or individual to perform
n n n n n n n n n n n n n n
work rather than hiring employees.
n n n n n
principle of rights: The principle that human beings have certain fundamental rights (to life,
n n n n n n n n n n n n n
freedom, and the pursuit of happiness, for example). A key factor in determining whether a
n n n n n n n n n n n n n n n
business decision is ethical under this theory is how that decision affects the rights of others,
n n n n n n n n n n n n n n n n
such as employees, consumers, suppliers, and the community.
n n n n n n n n
stakeholders: Groups, other than the company’s shareholders, that are affected by corporaten n n n n n n n n n n
decisions. Stakeholders include employees, customers, creditors, suppliers, and the communityin
n n n n n n n n n n n
which the corporation operates.
n n n n
triple bottom line: The idea that investors and others should consider not only corporate
n n n n n n n n n n n n n
profits, but also the corporation’s impact on people and on the planet in assessing the firm. (The
n n n n n n n n n n n n n n n n
bottom line is people, planet, and profits.)
n n n n n n n
utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related toan
n n n n n n n n n n n n n n
evaluation of the consequences of a given action on those who will be affected by it. In
n n n n n n n n n n n n n n n n n
utilitarian reasoning, a ―good‖ decision is one that results in the greatest good for the greatest
n n n n n n n n n n n n n n n
number of people affected by the decision.
n n n n n n n
[return to top] n n
What's New in This Chapter n n n n
The following elements are improvements in this chapter from the previous edition:
n n n n n n n n n n n
• New chapter title and chapter-opening introduction scenario discussing recent
n n n n n n n n
technology scandal involving finger-prick blood test kits
n n n n n n n
• New chapter organization and subheads throughout (including new headings for
n n n n n n n n n
―outsourcing‖ and ―corruption‖) n n
• New section on Making Ethical Business Decisions and new materials on Systematic
n n n n n n n n n n n
Approach: IDDR (―I desire to do right‖) that will be used throughout the text to analyzen n n n n n n n n n n n n n n
n ethics, including in all of the new ―A Question of Ethics‖ problems in the remaining
n n n n n n n n n n n n n n
n chapters.
o New―Application of theIDDR Approach‖ subsection with step-by-step discussionand
n n n n n n n n n n
sample scenario.
n n
• 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the Sample
n n n n n n n n n n n
Dilemma (for new IDDR Approach)
n n n n n
o 1 New Term & Concept
n n n n
• outsourcing
• 1 New Ethics Today feature—
n n n n
4
website, in whole or in part.
n n n n n
