UofP - MBA560 - DQs - Week Two - 06-12-06

UofP - MBA560 - DQs - Week Two - 06-12-06 - Week Two...

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Compare and contrast intangible, real, and personal property laws. Analyze the impact of tort, criminal, property, and employment law on business operations and decision-making. Apply approaches to negotiating contracts and resolving contract disputes. Analyze how legal processes and risks influence business decision-making. Apply risk analysis techniques to alternative solutions. DQ 1 Week 2 How does an organization identify risks in the areas of tort, criminal, and property law to which it is exposed in operations? Tort Law Tort law plays a significant role in determining who will bear losses arising from unanticipated risks, including accidental injuries, thereby creating incentives for organizations in risk-reducing behavior, which could include safety and other training programs. Furthermore, various federal and state regulatory agencies—such as the Occupational Safety and Health Administration (OSHA)—have authority over certain organizational processes. Criminal Law An organization can abate or significantly reduce potential fines for a criminal conviction by demonstrating effective compliance and ethics program is in place and that the criminal violation represented an anomaly within an otherwise law-abiding organization. By developing a compliance and ethics program (and, subsequently, accessing its effectiveness), organizations can strengthen existing criteria they must follow to prevent and detect criminal conduct. Furthermore, organizations must be proactive and take ownership of processes by imposing significantly greater responsibilities on their governing authority and executive leadership. Property Law Property law appears to have dual implications for risk discovery and mitigation. As we have learned, property rights are rights over things enforceable against other persons and contractual rights are rights enforceable against particular persons (Reed, 2005). Property rights may arise from a contract; therefore, an overlap exists between property and contractual rights. One example of mitigating risk is in the sale of land. As two legal relationships exist alongside one another, organizations must be aware that there is a “personal” right to sue for damages on the contract and the proprietary right exercisable over the sale of land. In should be clearly evident in the sale that a duality exists and organizations must (1) establish the liability (financial and personal, if applicable), (2) consider the pros and cons, (3) diagram the steps to mitigate the risk (e.g., proper and accurate documentation, proceeding, title, escrow, etc.), and (4) decide (after risk mitigation) if the sale should continue. Robert (Robb) Sikes
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This note was uploaded on 06/12/2011 for the course ETHICS mba taught by Professor Wilkes during the Spring '05 term at University of Phoenix.

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UofP - MBA560 - DQs - Week Two - 06-12-06 - Week Two...

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