Prof Scrip – Legal and Ethical Considerations in Business

    
PART 1 

Please answer each question with a 100 word response. 

1. Class, what are your thoughts on regulation in the airline industry? Are things better or worse today that they were 35 years ago?

2. Why ethics starts with the individual and moves into the company.

3. How have auditing standards changed due to ethical considerations?

4. What is the relationship between business ethics and free enterprise?

5. Review the following scenario: “In order to be highly successful, you are going to have to play the game which means not giving raises even though you can afford it, pricing your meals higher when a food price jumps in the market but not lowering the price after the crisis is over, and finding every tax loophole you can.”  – Is this ethical or not?  Please explain.

6. If the majority of companies strive to conduct their business ethically, why is there a need to create laws? How are ethics different from the law? How are ethics and the law the same? Support your answer with real-world examples.

7. Do you think that ethics can vary greatly from one person to another or should society be living by similar rules?

PART 2 
The purpose of this assignment is for students to gain an understanding of what impacts an ethical violation has on a business and how a business can avoid making poor ethical decisions. 

Assignment Steps 

Create a 1,050-word report discussing the following information:
Choose a company that has been in the news for ethical  violation(s) within the past 5 years.

Review what consequences came about due to the ethical  violation(s).

Explain the ethical violation(s) and what made it unethical.

Discuss why their ethical violation(s) did or did not  violate the law.

Explain how a set of ethical standards within the company could have prevented the ethical violation(s).

Cite at least two references