Ethics, Law, and the Judicial System Corporations have a lot of influence over the economy, the community, and people

Part 1 – (Ethics, Law, and the Judicial System) 400- 600 words APA

Corporations have a lot of influence over the economy, the community, and people. The traditional view of corporate responsibility is that a corporation has no additional social responsibility beyond making a profit for its shareholders. In more recent years, arguments have arisen with the belief that corporations have a high degree of social responsibility to people affected by the corporation's decisions.

Case Example: Phishy Pharmaceuticals is a corporation that recently kicked off the sale of its new weight-loss pill, Lose It Fast. After three months of sales, the management team has received some troubling reports of some unanticipated side effects caused by the pill. The management team asks the accounting department to run some numbers to determine how much it would cost to recall Lose It Fast, to suspend manufacturing, and to conduct more tests to determine the pill’s safety and other possible side effects.

After running some numbers, the accounting department states that it would be more cost-effective to leave the product on the market shelves and propose settlement proceedings with anyone who is injured and initiates a lawsuit.

The corporate attorney has advised that the product states on the package that the pill is not FDA approved, and off-the-record has stated that everyone who buys a weight-loss product knows there are some risks involved, so it is likely that the majority of injured consumers will not initiate a lawsuit.

If you recall the product, it will result in a delay of dividends paid to shareholders and a loss in revenue, affecting shareholder profit. Consider the following questions regarding this example:

• What would you do, and why?
• Would you leave the product on the shelves because you feel your duty as a corporate manager is to maximize shareholder profits?
• Would you recall the product because you feel the corporation owes a duty to the public, consumers, and the government in terms of social responsibility?

Part 2 – ( Legal Issues: Contract & Agency Law ) – write a memo of 600–800 words APA

Library Research Assignment

Your supervisor has just met with a potential new client. You and two of your coworkers will be working directly with this client in helping to create and execute contracts. To refresh your skills and memory on contracts, your supervisor has asked you to write a memo of 600–800 words to provide to your coworkers and supervisor that discusses the following information:

• Identify, define, and discuss the six elements of a contract, providing examples to help further the understanding of each element.
• Conduct research online or in the library to find a case involving a contract dispute regarding one or more of the elements of a contract, and provide the following:
  • A citation
  • A summary analysis of the case, including information on the specific elements involved in the dispute as well as the outcome of the case
• Discuss your opinion on the outcome of the case. Do you agree with the court’s decision?
• Additionally, to help prepare for the Phases 4 and 5 Individual Projects, briefly define (1-2 sentences) a contractual concern related to the business that you would like to start.

Part 3 – (Emerging Trends & Issues) – memo of 600-800 words or 4-5 PowerPoint slides, with speaker notes – APA

The director of your department has requested that you conduct some research on the topic of cyber law or Internet law. He has asked you to draft a memo of 600-800 words or 4-5 PowerPoint slides, with speaker notes that includes the following:

• Research, identify, and discuss an emerging trend or legal issues involving cyber law or Internet law. Examples could include but are not limited to the following topics:
  • E-contracts
  • E-signatures
  • Cyber torts
  • The use of social networking for advertising
  • Social networking and employee restraints
  • Identify theft
  • Cyberstalking
• Research, identify, and summarize a specific legal case involving a cyber law issue.
  • The summary should include a good description of the facts of the case and the outcome (court’s ruling) of the case.
• Provide your opinion on the outcome of the case.
  • Do you agree with the court’s ruling, or do you feel that a different outcome would have been more justified? Why or why not?
• Include good research and references to discuss the cyber law issue identified, with appropriate APA citations and references.