Business Law: Ethics, International Law, and Dispute Resolution

Why is ethics important in business management?

Ethics matters in business management as it influences employee behavior, company reputation, and stakeholder trust.

What are the learning objectives of studying ethics in business?

The learning objectives include understanding the relationship between law and ethics, various ethical principles, sources of ethical issues, and the impact of geography on business ethics.

What is the difference between stakeholders and shareholders?

Stakeholders are individuals or groups affected by a company's actions, while shareholders are individuals or entities that own shares in the company.

What is Utilitarian Ethics?

Utilitarian Ethics focuses on the outcomes of actions, aiming for the greatest happiness for the greatest number, but faces criticism for its difficulty in measuring utility and predicting consequences.

What is Deontological Ethics?

Deontological Ethics emphasizes the morality of actions based on rules or obligations rather than outcomes, as exemplified by Kant's Categorical Imperative.

What is Rawlsian Justice?

Rawlsian Justice suggests that societal rules should be designed from a 'veil of ignorance' to ensure fairness, considering individuals' life prospects.

What is the Front Page Test in ethical decision-making?

The Front Page Test encourages individuals to consider how they would feel if their actions were publicly exposed, promoting accountability.

What is Moral Universalism?

Moral Universalism posits that certain behaviors are universally right or wrong, regardless of cultural or individual beliefs.

What is Moral Relativism?

Moral Relativism suggests that ethical standards are determined by cultural norms and individual beliefs, allowing for varying moral judgments.

What are some responsibilities of organizations regarding ethics?

Organizations have responsibilities to their employees, customers, and society to uphold ethical standards.

What are the sources of international law?

Sources of international law include treaties, customary international law, and general principles of law recognized by civilized nations.

Who are the main actors in international law?

Main actors include states, regional alliances (like the EU), and international organizations (such as the UN and WTO).

What is the significance of the case Ware v. Hylton (1796)?

The case established that treaties are the supreme law of the land and enforceable in U.S. courts.

What did the Supreme Court rule in The Paquete Habana (1900)?

The Court ruled that customary international law is presumed part of U.S. law unless it conflicts with the Constitution or federal law.

What was the outcome of Sosa v. Alvarez-Machain (2004)?

The Supreme Court held that the Alien Tort Statute could be used to enforce certain international law norms in U.S. courts.

What was the ruling in Medellin v. Texas (2008)?

The Court ruled that the Vienna Convention did not create individual rights enforceable in U.S. courts without implementing legislation.

What did Kiobel v. Royal Dutch Petroleum (2013) determine?

The Court determined that the Alien Tort Statute does not apply to conduct occurring outside the U.S. without a connection to the U.S.

What is the United Nations Convention on Contracts for the International Sale of Goods (CISG)?

The CISG applies to contracts for the cross-border sale of commercial goods and has no writing requirements.

What is the significance of Article 95 declarations in the context of CISG?

Article 95 allows countries like the U.S. to opt out of certain provisions of the CISG, affecting the applicability of private international law.

What are best practices for contracting internationally?

Best practices include establishing choice of law, choice of forum, choice of language and currency, and arbitration.

How can domestic firms engage in international business?

Domestic firms can engage in international business through exports, imports, joint ventures, and establishing foreign subsidiaries.

What are some ethical dilemmas faced in business?

Ethical dilemmas can include conflicts of interest, discrimination, and issues of transparency and honesty.

What is the role of ethics in enhancing business advantage?

Being ethical can enhance business advantage by building trust, improving reputation, and fostering customer loyalty.

How do cultural norms influence ethical decision-making in business?

Cultural norms shape individual and organizational ethical standards, leading to variations in what is considered acceptable behavior.

What are ethics traps?

Ethics traps are situations that can lead individuals to make unethical decisions, often due to pressures or rationalizations.