Legal, Ethical, and Social Values of Business
Please answer the following questions and supply for each one an example to illustrate a major point, and example can be real or hypothetical, as well as supply a brief explanation of the example.
1. What are the major tenets of the ethical theory of Utilitarianism, and how would this theory be applied in business today to make moral determinations? (based on Business Ethics text Chapter 7 and Legal Challenges text Chapter 6)
2. Why are administrative agencies in the U.S. today called the “4th branch of government”? Why must the business executive and manager be concerned with agency rules and regulations? (based on Legal Challenges text Chapter 8)
3. What are the elements of the old common law tort of negligence, and how would this tort be applied to the manufacture, distribution, and sale of goods and services in a modern-day business context? (based on Legal Challenges text Chapter 9)
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