Solution manual for business law text exercises 10th edition roger leroy miller

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




Business Law: Text & Exercises (MindTapCourse List)
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10th Edition by Roger LeRoy Miller, 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 K




Table of Contents K K




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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website, in whole or in part.
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, Business Law: Text & Exercises (MindTap Course List) K K K K K K K




Purpose and Perspective of the Chapter K K K K K




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 K




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 K




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) K K K K K K K




Chapter Objectives K




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




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




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




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




Key Terms K




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
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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 else
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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 dutiesto
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others, including both humans and the planet. Those duties may be derived from religious
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principles 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) K K K K K K K




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




onsociety or on key stakeholders.
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outsourcing: The practice by which a company hires an outside firm or individual to K K K K K K K K K K K K K




performwork 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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life,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
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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 K K K K K K K K K K K




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.
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(Thebottom line is people, planet, and profits.)
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utilitarianism: An approach to ethical reasoning in which ethically correct behavior is related toan K K K K K K K K K K K K K K




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 K K K K




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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K 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‖) K K




 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 K K K K K K K K K K K K K K K




K ethics, including in all of the new ―A Question of Ethics‖ problems in the remaining
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K chapters.
o New―Application of the IDDR Approach‖ subsection with step-by-step discussionand
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sample scenario.
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 1 New Exhibit 3–1: An Analysis of Ethical Approaches to the
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K SampleDilemma (for new IDDR Approach) K K K K K




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