BUS 670 week 2 discussions responses
Discussion
1 week 2 Crimes That Harm Business Versus Crimes Committed by Business
Which do you believe presents the greatest threat to civil
society: a corporation that commits crimes (e.g., murder, environmental crimes,
or bribery), or persons who commit crimes that harm businesses (e.g.,
embezzlement, fraud, or larceny)? Defend your response, using at least one
example from current events.
Guided
Response: Respond to at least two of your fellow students’ posts in a
substantive manner. Some ways to do this include the following, though you may
choose a different approach, providing your response is substantive:
Review the posts made by your peers. In response to your peers, first identify a
non-traditional or creative way in which a corporation might be punished for
committing a crime. Then discuss the consequences of implementing that
punishment to the example used by your peer.
Respond
to Meas Khlaing post
In general, any type of crime being committed will be
considered a threat to civil society. In this case, crimes that harm business
vs crimes committed by business I would go with the persons who commit crimes
that harm businesses is the greatest threat to society today. Not only does
this affects the people but the organization structure as well. This can affect
the image/reputation of how the consumers do business with that particular
organization. Society as a whole, we humans are judgmental creatures and
depending on the crime it can affect a lot of things towards that business.
However, this all depends on the crime that has been brought up and for
society, stakeholder, law regulation to decided what the outcome of the case
can be and depending on the case of the crime, paying a simple fine is one
option to remedy the situation. For example, Well Fargo sandal with the fraud
account being created. According to the NY Times (2018), “Wells Fargo was found
by regulators to have systematically created fake customer accounts and misled
customers and government officials.” This has caused a lot of problem any many
people got away with the scandal and made lots of money from this scheme.
Seaquist p. 86, describe fraud are likely to be committed at work and are in
one of these six departments: accounting, operations, sales, executive/ upper
management, customer service, or purchasing. In the end of this fraud scandal,
Well Fargo was fined with a bill as a result of their illegal activities and
faced many lawsuits altogether. This also led to the resignation of the CEO at
Wells Fargo. Overall, the bank’s stable reputation was tarnished by this
widespread fraud.
Flitter, E., Appelbaum, B. & Cowley, S. (2018). NY
Times. Federal Reserve Shackles Wells Fargo After Fraud Scandal. Retrieved from
https://www.nytimes.com/2018/02/02/business/wells-fargo-federal-reserve.html
Seaquist, G. (2012). Business law for managers [Electronic
version]. Retrieved from https://content.ashford.edu/
Respond
to Mitchell Powell post
When considering corporations and people that commit crimes,
it is interesting to also consider which of them is more of a threat to civil
society. Depending on the situation in question, there can be an argument made
for both sides. I think that in the majority of cases, a corporation that
commits a crime would likely be more dangerous. One of the main reasons why a
business crime is more dangerous and threatening that a single person crime
against a business is that a business operates at such a large scale that a lot
more people have the potential of being affected. Businesses also have enough
money to make a lot of things happen. For example, if they had something
planned for the future that would end up harming the environment, they would
have a lot more funds to work with to actually make a damaging difference. When
a person on the individual level commits a crime against a company like
embezzlement, usually the amount embezzled will stay in that one person’s
hands. It also won’t be enough often times severely damage the company without
the company noticing first in many cases. However, “all crimes are
offenses against society, and convicted criminals are punished” (Seaquist,
2012). So whether the crime is at and individual level or at a corporate level,
each will need to be evaluated and will receive the appropriate punishment.
An example that is fairly recent as a crime committed by a
corporation would be what happened with Facebook. Facebook sold users’ personal
information to third parties. In this instance, the personal information and
data of billions of people was not protected and was put at risk. Even in
comparison to some of the largest embezzlement schemes in history being in the
millions of dollars, that amount is still a fairly small amount in comparison
to how much the company profits each year. Both instances are not good and both
should be avoided altogether but it seems as though corporate crime has the
potential to be more threatening and damaging.
References
Seaquist, G. (2012). Business law for managers [Electronic
version]. Retrieved from https://content.ashford.edu/
Discussion
2 week 2 Product Liability
After viewing the Chinese Imports & Food Safety (Links
to an external site.) video, consider whether U.S. retailers that utilize
products or raw ingredients that are imported from China and are poorly
regulated should be liable in tort for injuries to consumers who are harmed by
those products. Answer parts a and b of the prompt.
For this part of the prompt, answer one of the following
points:
If U.S. companies should not be liable, then they could be
legally exempt from tort liability. Discuss the consequences of such a policy
to U.S. consumers.
If the U.S. companies should be liable, then those companies
would not be legally exempt from tort liability. Discuss the consequences of
such a policy to U.S. businesses.
Regardless of your response to part a, assume that U.S.
retailers do have legal liability for defective products. What steps could U.S.
retailers and manufacturers take when using products imported from China that
would minimize their liability exposure? For example, they could warn consumers
about the potential, though speculative, dangers when using products comprised
of poorly regulated ingredients or components. Given your strategy, what
challenges would exist for U.S. businesses that implemented your strategy?
Guided
Response: Respond to at least two of your fellow students’ posts in a
substantive manner. Some ways to do this include the following, though you may
choose a different approach, providing your response is substantive:
Discuss
the challenges that would exist if your employer (or a fictitious employer)
were to adopt your classmate’s strategy.
Respond
to Kathy Kim post
U.S. companies should be liable for the actions they take
since they are selling products to consumers who are purchasing with the
understanding that their products are safe. Strict liability would be
applicable as the retailers would be liable for the products being unreasonably
dangerous (Seaquist, 2012). In the
instance of products from China, finished or raw products that are purchased by
U.S. companies should be evaluated thoroughly and frequently to verify that
they live up to the standards that the U.S. Company holds for themselves and
their consumers. If not, they are responsible for the damages caused by their
negligence.
The consequences of holding companies liable and not exempt
from tort liability are the resources needed in order to keep products safe.
For instance, there would be additional regulation and enforcement for
companies to comply. That regulation may
include additional inspections for imports or requiring inspections when
exporting if an agreement to do so with the exporting country is in place. These are resources from a government
perspective.
Another consequence is the increase in the price of products
due to higher prices from other countries or from business resources used to
inspect products. Businesses would need to find ways to cut costs elsewhere if
they cannot use the cheaper products that come from China. Cutting costs
elsewhere may lead to an impact on labor sources. It will cause a domino effect. Monetary resources are taken from another
aspect of the business to make up for the loss in profits from buying products
of quality.
U.S. companies can take additional steps to minimize
liability. One option is having contracts with multiple sources rather than
relying on one or a few to minimize the dependency. Another option is to develop high standards
on product inspections and adhere to them.
The first strategy would require resources to seek sources (suppliers)
for finished or raw products and to continually review to confirm that there is
a minimum number of suppliers in order to minimize dependency.
The second strategy of maintaining high standards on
inspection of products would require resources (monetary and labor) for initial
set up of high standards, sustaining the standards, and the frequency of
inspections. Of all options, it requires monetary resources that businesses may
or may not have in order to allocate towards these strategies.
Seaquist, G. (2012). Business law for managers [Electronic
version]. Retrieved from https://content.ashford.edu/
Respond
to Adreanna Reed post
If the U.S. companies should be liable, then those companies
would not be legally exempt from tort liability. Discuss the consequences of such a policy
to U.S. businesses.
It is the
American organization’s obligation to ensure products that are being sent out
from China are not hurtful to the American public. If the product is unsafe, at
that point the organization would be liable to tort liability. Product liability
permits “an offended party to sue under the speculations of guarantee,
carelessness, and severe risk for wounds continued as the aftereffect of an
product breakdown” (Seaquist, 2012, p. 132). As per Polinsky and Shavell
(2010), the bad that could happen to United State organizations concerning this
strategy will be the legal costs will expand, which can cause the expansion if
costs of its products. Different things that could occur in an product
liability claim are organizations decreasing working hours, making them close
down plants and laying off their representatives.
Regardless of your response to part 1 of this question,
assume that U.S. retailers do have legal liability for defective products. What
steps could U.S. retailers and manufacturers take, when using products imported
from China that would minimize their liability exposure? For example, they
could warn consumers about the potential, though speculative, dangers when
using products comprised of poorly regulated ingredients or components. Given
your strategy, what challenges would exist for U.S. businesses that implemented
your strategy?
There are a few
stages the American organizations can take to limit liability exposure. One
thing is they can take out liability protection and insurance. The test for
this is the organizations would need to build their expenses. Second, the
American organizations can test the products before carrying them to America.
The test for this is more expenses for structures and individuals to achieve
the testing and ensure the lawful activities and actions done by the producers
and the Chinese government are survived. Something else is called Foreign
Direct Investment where structures are worked in China to make the product to
America’s nature of guidelines and ship them to America. The test for this is
more expenses and “moves in the political atmosphere, monetary shakiness,
cash devaluation, and market-explicit decreases” (Finch, (2012, p. 423).
Reference
Finch, J. (2012).
Managerial Marketing. San Diego,
CA: Bridgeport Education, Inc.
Polinsky, M., & Shavell, S. (2010). The Uneasy Case for Product Liability. The Harvard Law Review, 2010. Vol.
123:1437. Retrieved from
http://www.harvardlawreview.org/wp-content/uploads/pdfs/polinsky_shavell.pdf
(Links to an external site.)
Seaquist, G. (2012). Business law for managers. San Diego, CA: Bridgepoint Education, Inc
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