Business-to-business

1. From ethical and legal perspectives, what do you feel business has learned from the Bernie Madoff financial fraud? In my opinion, I do not only think that businesses can learn from the mistakes that Madoff has caused, they can also use this case as a way to avoid the same type of conflict. With that being said, that can use the mistake that Madoff caused and the many lives that he also has affected to strengthen their code of ethics, build a stronger corporate culture and make sure that…

The agency theory (Jensen, 1976) is a presumption that explains the relationship between principals and agents in business. The agent represents the principal in a business transaction and is expected to represent the best interests of the principal without regard for self-interest. An agency relationship is fiduciary in nature, and the actions and words of an agent exchanged with a third party bind the principal. Agency theory is concerned with resolving problems that can exist in agency…

Southwest Airlines Case 1. Objective Finding ● Website glitch and mobile app problems hindering the customers’ ability to manage their travel plans or check-in for flights as well as causing flights delay and cancellation. ● Violating safety standards; keeping plan maintenance issues hidden, or missed inceptions, subjecting the company to penalties from the Federal Aviation Administration (FAA) ● Complaints of racial misconduct from both Southwest’s employees and customers as well (e.g.…

by failing to " 'counsel ' its clients to cease their participation in a fraudulently sourced building project. The Court found R&A did not commit malpractice as to the companies because Schneider, as president and majority owner, controlled this business entity, and her knowledge of the true nature of her illicit financing scheme must be imputed to her company. The firm had no duty to separately advise a minority owner. Stuffleben v. Cowden, 2003-Ohio-6334 -- Close Corporation Procedure:…

are three main business entities can choose to form in Malaysia which are Sole Proprietorship, Partnership and Limited and Unlimited Company. It is not so difficult to understand these types of entities and the owner can know which entities is more preferable to the owner. There are few steps in forming a sole proprietorship and a partnership entity. Firstly, determine the name of the organization which is unused by any business establishment or other entities. Register the business name with…

Discussion Board Forum 1 Case Study Topic: Business Ethics When reviewing this case study about Benji Watson who graduated near the top of his class while attending Liberty University MBA program and recruited by several national Fortune 500 corporations to include New Gen Health Sciences one can only evaluate the Ethics and Integrity behind each corporation. From the begging Benji had some type of knowledge about New Gen manufacture sold various vitamins, health foods, and health supplements…

Free Enterprise System Free enterprise is a system where the government has very few limitations on business activities and ownership. In this system this government has minimal ownership of an enterprise. The U.S. economic system of free enterprise operates according to five main parts: the freedom to choose our businesses, the right to private property, the profit motive, competition, and consumer sovereignty. In free enterprise you have a right to own and do all of the main parts the the…

Tornados, hurricanes, earthquakes, floods, and fire can destroy a business in an instance. This past year alone there have been 44 disaster declarations, 6 emergency declarations, and 33 fire management assistance declarations across the United States. (Disaster Declarations by Year) Natural disasters like these can impact whole towns, destroying both homes and businesses alike. “Forty percent of businesses never reopen after a natural disaster strikes”. (Program Management) Emergency…

Hannah for her university lectures. As Hannah purchased the product for $2000 on the assurance that the product would do as she needed Hannah has the right to claim remedies from Bolt. The ACL is in place to protect consumers and to avoid unfair business practices. As Bolt is an Australian company, they fall under the ACL and therefore must abide by the guarantees. The fact that Bolt has stated to their customers that they are not bound by the guarantees of the ACL is a huge contravention of the…

everything but the decision making had to be made him only and he couldn’t rely on others. Unfortunately he failed to attract any external sources of finance. He thought he would be working there forever since he was the owner and manager of the business at the age of 32 when is parent retired. Unfortunately after his company went to liquidation he had no income due to his work alone. After this experience Henri Trouvé questioned himself about the advantage and disadvantage of being a sole…