Bus 154 LECTURE NOTES - Functional Areas Of Business...

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Functional Areas Of Business 01/09/2016 ° Functional Areas Of Business Management Supply Chain Management Marketing Research and Development Accounting and Finance Human Resources ° ° Management Contract Law Corporate Law Regulatory Law Securities Law Sarbanes Oxley Act ° ° Supply Chain Management Contract Law Environmental Law Product Liability Tort Law
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Regulatory Law ° ° Marketing Anti Trust Laws Contract Law Regulatory Laws Product Liability Environmental Law Tort Law ° ° Research and Development Contract Law Intellectual Property Law Product Liability Law Tort Law Environmental Law Regulatory Law ° ° Accounting and Finance Contract Law Banking Laws
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Bankruptcy Laws Credit Laws Securities Laws Regulatory Law Sarbanes Oxley Law ° ° Labor (Human Resources) Contract Law Tax Laws Tax Contribution Laws Discharge Laws Immigration Laws Privacy Laws Wages Benefits Union Work Place Safety ° ° US COURT SYSTEM: Introduction To Law ° Elements of Law: Culture
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o Law is a manifestation of the ethics, morals and cultural patterns of society that defines good & bad behavior, right/wrong behavior Codification o Law is the product of a deliberative, rational, logical process that is prescribed by law within that society. In the US, the US Constitution shapes how law is made Due Process Clause-mandates that law be the process of a logical, deliberative and rational process Article I, Section 7 of the US Constitution prescribes how law is made in the US Article I, Section 9 places limitations on how law is made in the US Article II, Section 2 of the US Constitution prescribes how the President is involved in making law and prescribes how Treaties are initiated and ratified State Constitutions provide for Direct Democracy Methods by which law is made in the US Direct Democracy Initiative: people bypassing legislative branch Recall Referendum Indirect Democracy Idea, bill, committee (Both chambers), floor of both chambers, conference committee, vote of reconciliation, presidential Treaties making Control o Law is designed to regulate and control conduct so that government, individuals and business will act in a predictable manner given a “social, political or economic” stimuli Enforcement o Courts have the legal obligation to enforce the law. Only the courts can grant punishment or award remedies after applying the law in determining if the law has been violated
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Acceptability (Acceptance-generally people accept the law as serving their respective general interest) ° Distinction Internationalism-because a “nation state” is sovereign, no international law. NO INTERNATIONAL LAW US Constitutions end at the BORDER o Sources-Voluntary-nation state consents to be bound by international rule Treaties
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