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