Mgmt_354,_Notes,_Chapters_3-6 - Chapter 3 Protection of the...

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Protection of the society and freedoms that we have. Trying to balance society’s interest versus the individual’s interest or the corporate interest. 2 nd amendment rights to bear arms. Balancing of social causes Business should watch the cycle of social forces and follow trends there to understand the values attached to certain activities and responses. All values that precipitate change have one of several basic underlying goals described below: Protection of the State: Laws that condemn treason are examples of laws passed to preserve the government. Example:- tax codes, U.S. Patriot Act and airport security regulations. Treason is defined as an act of disloyalty against a nation or national sovereign by a citizen of that nation. It is usually treated very seriously by the penal system, as a single calculated act of treason can utterly destabilize an entire government. In most countries, conviction of high treason is accompanied with a death sentence, a long term of imprisonment, and/or a substantial fine. Goal – Protection and security of the state. Protection of the Person : Laws to protect the reputations, privacy, and mental and physical well-being of individuals. To protect individuals from being injured or killed. Criminal or civil laws. Anti- discrimination laws, labor laws and regulations, etc. Protection of Public Health, Safety & Morals: Laws based on the value of safety for the public. Example:- food-labeling regulations, food and restaurant inspections, speed limits, sale of alcohol to minors, prohibiting the operation of adult bookstores that are near schools or churches, etc. Protection of Property : Its Use and Title: L aws that protect one’s property (car, land, house, etc.). E.g. a zoning law that prohibits the operation of a steel mill in a residential area also provides protection of property. Federal laws provide protection for property rights in non-tangible or intellectual properties also. Laws afford protection of title for all forms of property. Ex - The deed recorded in the land record protects owner’s title. Though, those who have title to property are generally free to use the property, but even ownership has restrictions imposed by law. Protection of Personal rights (or Freedom of Personal Action): Examples are – Freedom to practice religion, freedom from political domination, freedom from economic domination. Individual freedoms and personal rights. Enforcement of Individual intent : when someone voluntarily enters into a contract, he/she has a responsibility to carry forward the promises made. If a party doesn’t fulfill its contractual obligation the law does enforce transactions through a set of rules governing requirements for them. Law may impose that a transaction or agreement be in writing to ensure the intent of parties is adequately documented. The law may also place restrictions on honoring intentions. For example – A contract to commit a
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Mgmt_354,_Notes,_Chapters_3-6 - Chapter 3 Protection of the...

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