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

Business Law: Text & Exercises (MindTap Course List)
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SOLUTION MANUAL u




Business Law: Text & Exercises (MindTap Course List)
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10th Edition by Roger LeRoy Miller, William E. Hollowell
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, Business Law: Text & Exercises (MindTap Course List)
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Chapter 1 u




Table of Contents u u


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) u u u u u u u




Purpose and Perspective of the Chapter u u u u u



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



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




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




Chapter Objectives u


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




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




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




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




Key Terms u



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
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arisein a business setting.
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categorical imperative: A concept developed by the philosopher Immanuel Kant as an
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ethicalguideline for behavior. In deciding whether an action is right or wrong, or desirable or
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undesirable, a person should evaluate the action in terms of what would happen if everybody
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else in the same situation, or category, acted the same way.
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corporate social responsibility (CSR): The concept that corporations can and should
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actethically 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
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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
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dutiesto others, including both humans and the planet. Those duties may be derived from
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religious principles or from other philosophical reasoning.
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ethical reasoning: A reasoning process in which an individual links his or her moral
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convictionsor ethical standards to the particular situation at hand.
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, Business Law: Text & Exercises (MindTap Course List) u u u u u u u




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


uonsociety or on key stakeholders.
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outsourcing: The practice by which a company hires an outside firm or individual to
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uperformwork rather than hiring employees.
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principle of rights: The principle that human beings have certain fundamental rights (to
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ulife,freedom, and the pursuit of happiness, for example). A key factor in determining
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uwhether a business decision is ethical under this theory is how that decision affects the
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urights of others,such as employees, consumers, suppliers, and the community.
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stakeholders: Groups, other than the company’s shareholders, that are affected by corporate
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udecisions. Stakeholders include employees, customers, creditors, suppliers, and the
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ucommunityin which the corporation operates. u u u u u


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.
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u(Thebottom line is people, planet, and profits.)
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utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related
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utoan 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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unumber of people affected by the decision.
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[return to top] u u




What's New in This Chapter u u u u



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
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u recenttechnology 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‖) u u



 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
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u analyze ethics, including in all of the new ―A Question of Ethics‖ problems in the
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u remaining chapters. u



o New ―Application of the IDDR Approach‖ subsection with step-by-step
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discussionand sample scenario.
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 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the
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u SampleDilemma (for new IDDR Approach) u u u u u



o 1 New Term & Concept
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 outsourcing
 1 New Ethics Today feature—
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