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  1. Study with Quizlet and memorize flashcards containing terms like Business Law, Law, Ethics and more.

  2. Ethical values underlie much law, including the law of how business operates and is regulated.

  3. Study with Quizlet and memorize flashcards containing terms like Ethics, Business Ethics, 3 layers of business ethics a.) Basic Values (3) and more.

  4. In what ways can the law facilitate business? (p. 2) The law can facilitate business by setting reliable ground rules for everyone to follow, protect business assets and other interests, and provide mechanism for resolving disputes in an efficient and predictable manner. Why is a legal risk management plan important? (p.

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  5. Why is business ethics important? What are some potential benefits to a business of having strong ethical standards? How can ethical standards help build trust with customers and other stakeholders? How can ethical standards help a business protect its reputation and brand?

  6. Which of the following statements is decisive in determining whether or not to study business ethics? A) Business managers don’t need to study ethics in order to know how to treat employees, shareowners, and customers.

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  8. Understanding the varied moral perspectives and values in public policy debates is a clarifying benefit in following or participating in these important discussions. Why Should an Individual or a Business Entity Be Ethical? The usual answer is that ethics is good business.