BUS 221 Study Guide - Midterm Guide: Alternative Dispute Resolution, Corporate Social Responsibility, Categorical Imperative

• School: Elon University
• Department: Business Administration
• Course: BUS 221
• Professor: Amy Allen

Document Summary

20 mc @ 2 points each = 40 points. 15 t/f @1 point each = 15 points. Coverage: in-class material and assigned readings since exam 1. Chapter 2, sections 4 & 5; chapter 5 (omit cases); chapter 6; and chapter 7. Advantages and disadvantages of adr compared to court litigation. Under this act, arbitration clauses are enforced. Enforces arbitration clauses in contracts involving maritime activity and interstate commerce. Part of contracting arbitration, the faa established a national policy favoring arbitration. Differences between arbitration and mediation and advantages of each compared to the other. Difference between law and ethics and their relationship. A business must consider the legal implications of each decision. A business must consider the public relations impact of each decision. A business must consider the risks for consumers and employees when decision making. A business must consider the financial implications of each decision. We can figure out what is right and wrong by our internal reasoning.