Legal Approach to Management

Table of Contents

1 INTRODUCTION 4

1.1 Law and Ethics 5

1.2 Relationship between Ethics & Law 6

1.3 Nature of Ethics in Business 7

1.4 Characteristics of Business Ethics 9

2 Status of the problem/ International and national 12

2.1 Human rights: 12

2.2 Labor: 12

2.3 Environment: 12

2.4 Anti-corruption: 13

2.5 Problem and Codes of Business Conduct 13

2.5.1 CORPORATE GOVERNANCE: RELATIONSHIPS WITH SHAREHOLDERS 13

2.5.2 RELATIONSHIP WITH EMPLOYEES 13

2.5.3 RELATIONSHIP WITH OTHER ENTERPRISES 14

2.5.4 RELATIONSHIP WITH THE GLOBAL COMMUNITY 15

2.5.5 RELATIONSHIP WITH GOVERNMENT AUTHORITIES 15

2.5.6 PREVENTION OF EXTORTION AND BRIBERY 16

2.5.7 CREATION OF A CULTURE THAT FOSTERS SOUND BUSINESS STANDARDS AND CORPORATE PRACTICES 17

3 Laws Affecting Business Commerce: 18

3.1 Antitrust Laws: 18

3.2 Consumer Safety Laws: 18

3.3 Environmental Protection Laws: 19

3.4 Laws Affecting Business Occupations: 20

3.5 Laws Regulating Occupations: 20

3.6 Laws Governing Diversity: 20

3.7 Laws Promoting Occupational Health and Safety: 21

4 BUSINESS ETHICS, COMPLIANCE AND ENFORCEMENT MECHANISM AND THEIR EFFECTIVENESS 22

4.1 Operational Activities 22

4.2 Competitive Advantage 23

4.3 Commercial Relationships 23

4.4 Corporate Social Responsibility 23

4.5 Cultural Diversity 24

4.6 Growth and Financial Security 24

4.7 Business Ethics Barriers 24

4.8 Organizational Culture 25

4.9 Business Ethics and it Social Implications 25

4.10 Economic Responsibilities 26

4.11 Green Technology and Waste Minimization 26

4.12 Government Policies 26

4.13 Ethical Concerns 27

4.13.1 Environmental Risks 27

4.13.2 Industry’s Sustainability 27

4.13.3 Ethics and the Environment 28

4.13.4 Information Security 28

4.13.5 Legal aspects 28

4.13.6 Corporate Environmental Strategy 29

5 ROLE OF JUDICIARY 31

5.1 Definitions 31

5.2 What Are The Punishments For Breaking The Code Of Ethics? 32

6 NGOs/Civil Society Groups and Business/Industry Associations 34

6.1 Role of NGOs 34...