Running head: BACKOFFICE BUSINESS BRIEF 1 Business Law and Ethics BackOffice Business Brief Patten University BACKOFFICE BUSINESS BRIEF 2 Constitutional Rights and Guarantees BackOffice is a new startup business that will provide potential clients with an application (app) that woul d automate certain business functions. BackOffice will be selling the app to certain business clients that will use it to facilitate their customers’ transactions. It is important that the owner of this company seek the help of a lawyer in ord er to get the proper legal advic e on how to start the business. BackOffice is planning on acquiring clients in order to be come profitable . Two areas can affect the pot ential clients, their clientele , the …show more content…
The Consumer Financial Protection Bureau (CFPB) is planning to propose regulations that could control and re strict the kind of transactions that BackOffice will automate. As a result, this could slow down the sales of the app since new restrictions might be imposed on some of its functions. The CFPB recently took action agains t a similar company called Dwolla, w hich acts as an online payment platform . The action was taken because Dwolla misled its customers about their online payment system data security practices . The company had falsely stated that their security standards exceeded those of the in dustry and als o failed to encrypt sensitive consumer BACKOFFICE BUSINESS BRIEF 6 that the application could have unforeseen bugs . In that case BackOffice will rectify the situation. Ethical Consideration II It is critical for BackOffice to be extremely clear with its business investors when it comes to their expectation in regards to the commercial performance of the application . Investors should be able to know what kind of return they are to expect on their investment . Additionally, it is unethical to fabricate any key information or hide factual data in order to receive the good faith and funds of likely investors. As a CEO , you must be very clear when explaining how you expect the business to perform financially in b oth the short and long term . For example, the time line of when the business is expected to break even or
2. Laws must be static and unyielding in order to provide stability for a society.
Moreover, the APP also has some of its own disadvantages. First of all, the use of the APP must depend on the network. That is, it must be used online and not out of the network. It is limited to the business of the enterprise in underdeveloped areas of the network and it is also a common defect of all kinds of APPs. This is limited to the expansion of the use areas of the APP. Because consumers cannot use the network or the cost of using the network is too high in some places, then they would give up using the APP.
Will you want a app for Smartphone’s to make it easier for customers to place orders online?
This paper is composed for the individual assignment for week 2 of the MBA 633 Legal Issues in the Workplace course. The topic for this assignment consists of the differences between ethical and legal business issues. This paper will provide answers to questions related to employee behavior away from the office, and the Foreign Corrupt Practices Act and bribes. Both topics have been presented in the form of video cases (video 93 and 98) found in the Cengage digital video library.
Abandoned minors are no longer protected from liability on their contracts, merchants are still reluctant to deal with them on a credit basis, fearing that they may still attempt to disaffirm, or
Hello Mr. Poulson, I hope all is well and thank you for the opportunity you have given me to offer a recommendation on how to solve the crisis INDE is currently facing. As you know the technological crisis that arose from corrupted Augmented Reality software we produce for our Augmented reality products has affected our servers very severely. As a result, this is the first technological crisis the company has ever faced. The misuse of confidential information gave hackers the all access to infuriate our servers which lead to the start of the crisis. However, technological crisis occurs frequently in the industry.
This is a comprehensive, laser focus and in depth session specifically designed for established businesses.
Peter Crist is almost always correct. The reality is that if someone lies or covers stuff up, most of the time they will be found out eventually be it in two days or in 20 years. However, the reality is that some people do lie and cover stuff up in professional and personal situations and are never exposed. Sometimes this is because they're in a situation where dishonesty is prized, other times it's because the people around them turn a blind eye to what they see because they don't want to know the truth. Other times, it's because the person engaging in the dishonesty is so crafty and so quick that the trickery and subterfuge is almost inscrutable. However, the fact remains that Crist is correct. Often people are found out because those who are engaging in the trickery have so much hubris and so much arrogance that they engage in bolder and bolder moves, believing that they will never be caught. One example of that from the recent past is of Bernie Madoff. His crime was a simple Ponzi scheme which grew larger and larger in size and scale to the point where he couldn't help but be found out. In this case, the fact that Ms. Jones was found out was somewhat expected: she advanced to such a position of power within the institution that she was almost one of their public figures, which meant that her credentials would be under greater scrutiny.
Business Case: Provide details about the organization you have chosen for your scenario and relevant information about their
The same ethical issues in the business world have been around for a long time. In theory business ethics is a practical regulation that dictates moral activity of commercial interests. The history of business ethics is founded in corporate social responsibility (CSR).
Business Ethics is a set of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from
Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.
Therefore, Market West accepted the corporation stock as partial debt. Hooper and Yoder agreed to add Brian Bradley who worked for Market West as the third director. Hooper colluded with Bradley and violated a fiduciary duty to Yoder by issuing 95 shares of stock to himself, 5 shares to Bradley, and none to Yoder. Furthermore, Hooper got paid $141,000 salary from the business without Yoder knowing. More importantly, Hooper and Bradly voted to force Yoder to leave the corporation. After Yoder found out that Hooper broke their agreement, violated Yoder’s rights and duties, acted dishonestly, and made unethical decisions, Yoder sued Hooper and Beautiful Daydreams in the District Court. Under the common law, with these facts, the court supported Yoder and ordered Hooper to give back one-half of the salary plus one-half of the shares of stock to Yoder.
Ethical dilemmas are virtually impossible to avoid if you are a participant in the workforce. The definition of an ethical dilemma stands as a situation that challenges two or more “right” values that arise in a conflict (Treviño & Nelson, 2014). As ethical persons, how may we overcome ethical dilemmas and finish on the “right” side? The research mentioned in Trevino’s and Nelson’s book, “Managing Business Ethics: Straight Talk About How to Do It Right,” suggests that preparing for specific ethical challenges before a situation occurs can adequately prepare the workforce to better handle real-world applications when an ethical situation transpires. The notion that ethics is teachable inspires the following case analysis. The case analysis involving chemical safety will discuss the facts and issues, stakeholders, decision alternatives, and real-work constraints. Focusing on each of the previously mentioned topics, I will describe the applications using Utilitarian, Kantian Ethics, and Rawlsian Justice Analysis’s.
This case study was a powerful example to illustrate the presence of ethics within the