Management and Organizational Studies 2275A/B Lecture Notes - Lecture 2: Alternative Dispute Resolution, Magners, Open Shop

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Lecture 2 canadian legal system and dispute resolution. Identify the risk and then quantify it (how big or how likely is the outcome?) Cant get off the risk return curve but rather decide where on the curve you want to be. What to do with risk: risk avoidance not willing to take the risk, risk reduction takes steps to minimize the risk so the risk is manageable, risk shifting transferring the risk to someone else. E. g. buying insurance: risk acceptance take the risk. Enforced by the government: necessary in order to ensure people will follow the rules. Morgan the crown can only call for a new trial and not replace the decision with their own. Law wasn"t set in stone, there were many theories from different philosophers about what the law actually is. Accessibility always going to be able to get a lawyer no matter your state of wealth.