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#1 Assignment Objectives Understand basic legal issues facing today’s business leader, including employers’ social media policies. Articulate one’s position with various diverse debate topics. Explain the prevalent legal theories and definitions affecting business. Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas. Corporations have a lot of influence over the economy, the community, and people. The traditional view of corporate responsibility is that a corporation has no additional social responsibility beyond making a profit for its shareholders. In more recent years, arguments have arisen with the belief that corporations have a high degree of social responsibility to people affected by the corporation’s decisions. Case Example: Phishy Pharmaceuticals is a corporation that recently kicked off the sale of its new weight-loss pill, Lose It Fast. After three months of sales, the management team has received some troubling reports of some unanticipated side effects caused by the pill. The management team asks the accounting department to run some numbers to determine how much it would cost to recall Lose It Fast, to suspend manufacturing, and to conduct more tests to determine the pill’s safety and other possible side effects. After running some numbers, the accounting department states that it would be more cost-effective to leave the product on the market shelves and propose settlement proceedings with anyone who is injured and initiates a lawsuit. The corporate attorney has advised that the product states on the package that the pill is not FDA approved, and off-the-record has stated that everyone who buys a weight-loss product knows there are some risks involved, so it is likely that the majority of injured consumers will not initiate a lawsuit. If you recall the product, it will result in a delay of dividends paid to shareholders and a loss in revenue, affecting shareholder profit. Consider the following questions regarding this example: •What would you do, and why? •Would you leave the product on the shelves because you feel your duty as a corporate manager is to maximize shareholder profits? •Would you recall the product because you feel the corporation owes a duty to the public, consumers, and the government in terms of social responsibility? #2 Assignment Objectives Articulate one’s position with various diverse debate topics. Use cases to evaluate and apply legal theories in support of his or her position. Properly apply the laws regarding intellectual property as they relate to business and e-business. Explain the prevalent legal theories and definitions affecting business. Understand basic legal issues facing today’s business leader, including employers’ social media policies. Library Research Assignment Your supervisor has just met with a potential new client. You and two of your coworkers will be working directly with this client in helping to create and execute contracts. To refresh your skills and memory on contracts, your supervisor has asked you to write a memo of 600 words to provide to your coworkers and supervisor that discusses the following information: •Identify, define, and discuss the six elements of a contract, providing examples to help further the understanding of each element. •Conduct research online or in the library to find a case involving a contract dispute regarding one or more of the elements of a contract, and provide the following: â—¦A citation â—¦A summary analysis of the case, including information on the specific elements involved in the dispute as well as the outcome of the case •Discuss your opinion on the outcome of

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