BUSINESS ETHICS, RELIGIONS, AND SOSIAL RESPONSIBILITY

Ch2.BUSINESS ETHICS, RELIGIONS, AND SOSIAL RESPONSIBILITY

The Environment of Business (natural, historical, economic, political-legal, cultural, social)
The Government Regulation of Business (The Sherman Antitrust Act 1890, The Clayton Act 1914, The Federal Trade Commission Act 1914, The Robinson-Patman Act 1936, The Wheeler=Lea Act 1938, The Celler-Kefauer Act 1950, Food, Drug, and Cosmetic Act 1938, Federal Fair Labor Standards Act 1938, Labor-Management Relations Act 1947, Occupational Safety and Health Act 1970, The Consumer Credit Protection Act 1968, The Fair Credit Reporting Act, The Civil Rights Act 1964

Better Business Bureaus
The Social Responsibilities of Business: poverty and discrimination, ecology, consumerism (credit cards, cooling-off period, holder in due course, merchandise not ordered, truth in lending).
Business and Social Problems: changing social values. Enlightened self-restraint, personal responsibility, managerial and financial resources, and federal legislation (Antidiscrimination laws, environmental laws, and consumer laws).
Building Code: Regulation that provide minimum specification for construction details.
Consumerism
Copyright law
Enlightened self-restraint
Equal pay rule
Franchise
Implied contract: that which results when the terms of an agreement must be inferred from the acts of conduct of the parties, from the customs of the particular business, or from conditions or circumstances rather then oral or written words.
License
Mercantilism – an economic system under government domination
Monopoly
Oligopoly
Right of eminent domain: the power of a government to use private property for a public purpose by the payment of a fair price
Right to work law: a state law that specifies that union membership shall not be required of any worker in obtaining or holding a job
Trust
Tying contract: a situation in which a buyer, in order to obtain wanted merchandise, must agree to bye other goods from the same vendor