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About this document
- Pages
- 21 pages
- Price
- $21 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business, Law
- Module
- BUS210 · Week 3
This study guide covers key concepts in business ethics and law, including stakeholder influence, ethical decision-making, and laws affecting business commerce and occupation. It is useful for preparing for the Week 3 exam in the BUS210 module.
What's inside
- Stakeholder influence
- Ethical differences
- Rules of ethical decision making
- Laws affecting business commerce
- Laws affecting business occupation
- Laws affecting business organization
Who it is for: Students taking the BUS210 course, preparing for the Week 3 exam. (Undergraduate)
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Summary
Business ethics and law are important for understanding how companies should behave. Students learn about stakeholders, ethical decision-making, and laws that affect business.
Stakeholders and their influence
Stakeholders are people or groups who supply a company with resources. They have an interest in how the company behaves. Stockholders are stakeholders who own shares in a company and have a claim on its profits.
Ethical decision-making in business
Managers use four ethical rules to make business decisions. These rules help them consider the effects of their decisions on stakeholders. Ethical behaviour can give a company advantages over its competition.
Laws affecting business commerce
Anti-trust legislation makes it illegal for companies to limit supply. The Clean Air Act sets limits on pollutants in the air. The Sarbanes-Oxley Act requires CEOs and CFOs to vouch for their company's financial results.
Laws affecting business organization
Laws concerning incorporation and bankruptcy help promote a company's survival. Copyrights protect the authors of books, videogames, poems, and songs. They can last as long as the creator’s lifetime.
Key terms
- Stakeholders
- People or groups who supply a company with resources and have an interest in its behaviour.
- Stockholders
- Stakeholders who own shares in a company and have a claim on its profits.
- Ethical rules
- Principles that managers use to make business decisions and determine their effects on stakeholders.
- Anti-trust legislation
- Laws that make it illegal for companies to conspire to limit supply.
- Copyrights
- Protection given to authors of books, videogames, poems, and songs.
- Sarbanes-Oxley Act
- A law that requires CEOs and CFOs to vouch for their company's financial results.
Questions this document helps with
- What are the four main determinants of differences in business ethics?
- Which law prohibits U.S. companies from paying bribes abroad?
- What are the two types of laws that help promote a company's survival?
Summary written with AI from the document's text.
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