<< Chapter < Page Chapter >> Page >
Legal environment: laws, statutes, regulations
Laws, Statutes, Regulations Description Examples Frameworks Frameworks
Laws differ from ethical principles and concepts in that laws prescribe the minimally moral while ethical principles and concepts routinely explore higher moral "spaces." Criminal Law : Applies to individuals; interested party in a criminal trial is society, not the victim. Civil Law : Torts concern wrongful injury. The objective of a tort is to make the victim "while" after an injury. US and British law work through a common law system where current decisions are based on past decisions or precedent.
Ethical principles challenge and criticize laws by bringing into question their normative content. Involves proving a mens rea (guilty mind) and actus reus (guilty or law-breaking act) and that the mens rea caused the actus reus. To prevail in a tort one ust prove (in order of severity) negligence, recklessness, or intent. The Puerto Rican system of law is based on the Napoleonic code where decisions relate directly to existing law and statute and precedent plays a weaker role.
Laws can challenge ethical principles and concepts by raising issues of practicality. Also, as in responsibility theory, the law can structure and inform the moral discussion. Criminal law does not apply to corporations because they "have no soul to damn and no body to kick" Baron Thurlow Negligence involves proving that the defendant failed to meet some standard of due care . Question: How does the statute-based Napoleonic system in PR constrain and enable business practice in relation to other systems such as the British and American common law systems?
Contract law concerns the violation of the terms of a contract.
Market environment
Market Environment Description Examples Frameworks Frameworks
Business takes place within different markets that shape supply, demand, and price. Globalization frequently requires that a business be adept at operating across different markets Laissez Faire : Each economic unit makes choice based on rational (enlightened) self-interest. (Private ownership of goods.) Assumptions of a Free Market System : (a) Individual decisions are aggregated. (b) Information flows through price structure. Recent economic studies of the limits of laissez faire markets :
Liberal use made here of notes from Economics class taught by CR Winegardner, University of Toledo, 1971-1972 Liberal Democratic Socialism : Limited government intervention is needed to improve upon the choice of individual economic units. (Mixture of private and public ownership) (c) Free association. (d) Absence of force or fraud. (e) Individual agents are rational utility maximizer (a) Information Asymmetries (as studied by Stiegliz). (b) Monopolies which, in the absence of competition, can dictate standards of price, product and service.
Materials also take from Natural Capitalism from Lovins and Hawkings. Communist, Authoritarian Socialism : The state is in the best position to know what choices and policies are beneficial for the economy as a whole and its component parts. (Public ownership of goods and services) (f) Governments should adopt a hands-off stance because interference disrupts the ability of markets to produce utility-maximizing conditions.(4,4) Animal spirits deflect economic decision-making away from perfect utility maximizing. They include confidence, fairness, corruption, money illusion, and stories.(4,5)
(5,1) (5,2) (5,3) (5,4) Ghoshal: bad management theories are destroying good mangement practices as they become self-fulfilling prophecies. Ghoshal is especially critical of agency theory, compliance/punitive approaches to corporate governance, and the theory of human nature he calls "Homo Economicus."(5,5)

Questions & Answers

what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
Do somebody tell me a best nano engineering book for beginners?
s. Reply
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
types of nano material
abeetha Reply
I start with an easy one. carbon nanotubes woven into a long filament like a string
many many of nanotubes
what is the k.e before it land
what is the function of carbon nanotubes?
I'm interested in nanotube
what is nanomaterials​ and their applications of sensors.
Ramkumar Reply
what is nano technology
Sravani Reply
what is system testing?
preparation of nanomaterial
Victor Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
Privacy Information Security Software Version 1.1a
Got questions? Join the online conversation and get instant answers!
QuizOver.com Reply

Get the best Algebra and trigonometry course in your pocket!

Source:  OpenStax, Corporate governance. OpenStax CNX. Aug 20, 2007 Download for free at http://legacy.cnx.org/content/col10396/1.10
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Corporate governance' conversation and receive update notifications?