© 2004 west legal studies in business, a division of thomson learning 1.1 the legal, ethical, and...
TRANSCRIPT
© 2004 West Legal Studies in Business, a Division of Thomson Learning
1.1
The Legal, Ethical, and The Legal, Ethical, and Regulatory Regulatory
Environment of Environment of BusinessBusiness
By Fisher and By Fisher and PhillipsPhillips
Prepared by Jimidene MurpheyPrepared by Jimidene Murphey
© 2004 West Legal Studies in Business, a Division of Thomson Learning
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Chapter 1Chapter 1
The Law: Legal and The Law: Legal and Business EthicsBusiness Ethics
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The Meaning, Nature, The Meaning, Nature, and Limits of Ethicsand Limits of Ethics
JurisprudenceJurisprudenceThe study of legal ethicsThe study of legal ethics
Business ethicsBusiness ethicsValues that the business Values that the business community uses to determine community uses to determine proper conductproper conduct
Ethics (deontology)Ethics (deontology)The study of conduct that is right, The study of conduct that is right, good, and moral in a set of good, and moral in a set of circumstancescircumstances
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Nature - Nature - A PrioriA Priori
Ethics are ultimate valuesEthics are ultimate values
Ethics self-justifyEthics self-justify
Ethics sometimes conflictEthics sometimes conflict
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Ethic of Positive LawEthic of Positive Law
Positive law consists ofPositive law consists ofa rule…a rule…
from a political superior to a from a political superior to a political inferior, which the political inferior, which the inferior obeys…inferior obeys…
with sanctions imposed if the with sanctions imposed if the rule is broken.rule is broken.
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Characteristics of Characteristics of Positive LawPositive Law
Command elementCommand elementNo requirements on the type No requirements on the type of rulerof rulerHabitual obedience to the Habitual obedience to the rules is expectedrules is expectedGenerally advances Generally advances constructive goalsconstructive goalsCan be moral, amoral, or Can be moral, amoral, or immoralimmoral
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Why Empirically-basedWhy Empirically-basedLaw is DominantLaw is Dominant
The lack of trust in our societyThe lack of trust in our societyCultural pluralismCultural pluralismLegalizing all areas of societyLegalizing all areas of societyMassive noncompliance with Massive noncompliance with positive lawpositive lawFailure to keep our promisesFailure to keep our promisesLack of personal responsibilityLack of personal responsibilityRewardable cheatingRewardable cheatingPassing of laws to resolve Passing of laws to resolve problemsproblems
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Justice as EthicsJustice as Ethics
Natural lawNatural law
Due processDue process
Equity courtsEquity courts
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Prominent Names in Prominent Names in JurisprudenceJurisprudence
PlatoPlatoSir William BlackstoneSir William BlackstoneJohn RawlsJohn RawlsImmanuel Kant Immanuel Kant Eugene EhrlichEugene EhrlichSigmund Freud Sigmund Freud Jerome Frank Jerome Frank Jeremy BenthamJeremy Bentham
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Ethics Influencing LawEthics Influencing Law
Ethics of Ethics of customcustomEthics of Ethics of
customcustom
Ethics of Ethics of realityrealityEthics of Ethics of
realityreality
Ethics of Ethics of utilityutilityEthics of Ethics of
utilityutility
Ethics of Ethics of norms of norms of conductconduct
Ethics of Ethics of norms of norms of conductconduct
Ethics of Ethics of civilizationcivilizationEthics of Ethics of
civilizationcivilization
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Business EthicsBusiness Ethics
Values that a business follows Values that a business follows in conducting its affairsin conducting its affairs
Examples of business ethicsExamples of business ethicsMake a profitMake a profit
Deliver best products for best Deliver best products for best priceprice
Provide workers with jobsProvide workers with jobs
Give owners return on investmentGive owners return on investment
Be a good citizenBe a good citizen
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Objectives of LawObjectives of Law
JusticeJustice
SpeedSpeed
EconomyEconomy
FlexibilityFlexibility
StabilityStability
KnowabilityKnowability
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Why Study the Law?Why Study the Law?
Cutting edge of societyCutting edge of society
Business environment is Business environment is increasingly legalizedincreasingly legalized
Businesspeople should Businesspeople should practice preventive lawpractice preventive law
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Recap - Terms to KnowRecap - Terms to Know
EthicsEthicsJurisprudenceJurisprudenceJustice and powerJustice and powerCustomCustomSociological school of Sociological school of jurisprudencejurisprudenceEthics of civilizationEthics of civilizationLegal realismLegal realismEthical utilitarianismEthical utilitarianismBusiness ethicsBusiness ethics