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MGT393H5 Lecture Notes - Alternative Dispute Resolution, English Law, Substantive Law

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amethystwombat780

16 Oct 2011

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Manfred Schneider

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Document Summary

Impacts decisions made by businesses: can affect success and failure of business, legal consequences affect profits and losses, manage legal risk. Risk shifting: make the risk someone else"s problem. Risk acceptance: choose to live with the risk. What is law: rules that govern an individual in a given society (which is dynamic, should be consistent, predictable, certain. Substantive (rights and duties that each person has in society) Procedural (law that deals with the protection and enforcement of substantive rights and duties) Substantive law is what the law is and procedural law deals with how the law is enforced. Sources of law: constitution (includes charter, statutes (laws made by government) Criminal code of canada, income tax act: common law (english common law - judge-made law following precedents stare decisis: to stand by previous decisions. Purpose: certainty, predictability, continuity, consistency, cases distinguished on their facts: municipalities pass by-laws, not statutes (they are corporations without shareholders)

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Related Questions

Which of the following statements is true of business ethics?

a)All business actions deemed unethical by society are necessarily illegal.

b)Business ethics and personal ethics are synonymous.

c)The acceptability of behavior in business is determined by not only an organization but also its stakeholders.

d)Business ethics is independent of an organizational culture.

e)Profit in business is the only glue that holds relationships together.

Which of the following is not true about strategy and/or strategic management?

a. The strategic leader's perspective ought to be the holistic consideration of the business and its environment.

b. Strategic management encompasses all the functional areas of business.

c. In business, the strategy requires a big-picture perspective.

d. Strategies sometimes emerge from bottom-up processes.

e. A good leader can afford to devise a strategy in isolation from the lower-level leaders who are responsible for executing it

emeraldmammoth893

The two biggest drawbacks or disadvantages of unrelated diversification are

A)underemphasizing the importance of resource fit and the strong likelihood of diversifying into businesses that top management does not know all that much about.

B)insufficient cash flows to finance so many different lines of business and a lack of uniformity among the strategies of the businesses it has diversified into.

C)volatile sales and profits and making the mistake of diversifying into too many cash cow businesses.

D)the difficulties of competently managing many different businesses and being without the added source of competitive advantage that cross-business strategic fit provides.

E)over-investing in the achievement of economies of scope and the difficulties of achieving a good mix of cash cow and cash hog businesses.

carmineserval589