Compare and contrast "business law" and "business ethics."
What will be an ideal response?
While most laws are based on ethical standards, not all ethical standards have been enacted as law. While the law establishes a minimum degree of conduct expected by persons and businesses in society, ethics demands more. Ethics and the law are intertwined. Sometimes the rule of law and the rule of ethics demand the same response by a person confronted with a problem. However, sometimes the law demands certain conduct, but a person's ethical standards are to the contrary. Moreover, in some situations, the law may permit an act that is ethically wrong.
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Gray markets impose several costs or consequences on global marketers, which does not include:
A) damage to channel relationships. B) dilution of exclusivity. C) free riding D) reputation and legal liability. E) increase product demand
According to the survey referenced in the textbook, leaders who had strong stakeholder values in their strategic decision-making, were ______.
a. more likely to be viewed as autocratic b. more likely to be seen as inspiring/visionary c. also likely to have strong economic values d. less likely to be successful
Front-line service providers are the service desk staff who interact directly with customers.
Answer the following statement true (T) or false (F)
An opinion stating that the financial statements present fairly the financial position, results of operations, and cash flows of the company is said to be a qualified opinion
Indicate whether the statement is true or false