Name Institution Instructor Course Date The Influence of Law and Ethics on Business Introduction Without regulations everything in the world would be a mess. Business like any other vital sector in any economy it inevitably attracts the interest of the government in that if it is not controlled there would be uncountable entities whose aim would be cheating them or in a reversible way the businesses cheat the other entities. The aim of this essay is to draw a boundary between law and ethics and their influence in business. Meanwhile they are both put in place to ensure all business organizations existing in the marketplace operate in a conducive environment where they can succeed (Crane & Matten 2016 p. 5-6). Laws and Regulations The legal environment of a business affects its activities either positively or negatively. The laws passed by let's say senators as in the case of US peaceful coexistence between disputed parties and furthermore they help in fastening judicial processes of solving disputes. Conclusion It is precise as per the above cases that laws and ethics immensely influence business enterprises in either a positive or negative way. In case of any differences arising due to the variation of ideological terms the parties should seek alternative dispute resolutions. References Blake S. H. Browne J. & Sime S. (2016). A practical approach to alternative dispute resolution. Oxford University Press; 3-430. Crane A. & Matten D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press; 1-44. External Environment: Business & Legislation (GCSE) | tutor2u Business. (2018). tutor2u. Retrieved 28 February 2018 from www.tutor2u.net /external-environment-business-legislation. Halbert T. & Ingulli E. (2011). Law and ethics in the business environment. Cengage Learning; 1-40. Hovenkamp H. (2009). Enterprise and American law 1836-1937. Harvard University Press. [...]
The purpose of this assignment is to differentiate between law and ethics, understand how both affect today's business environment, and identify the importance of alternative dispute resolution in business. Assignment Steps Develop a 1,050-word summary contrasting law and ethics describing the following: Describe how laws or regulations affect your past or current job or industry. Describe how ethical rules affect your past or current job or industry and explain why ethics are considered an asset to a workplace. Discuss the various types of alternative dispute resolution (ADR) and analyze which types of ADRs are regularly used in your workplace. Cite a minimum of two peer-reviewed references. Format your paper consistent with APA guidelines.