Business Law > A-Level Question Paper > Sophia Business Law Unit 1 Milestone 1 (All)

Sophia Business Law Unit 1 Milestone 1

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The CEO of a multinational retail corporation has decided to raise the minimum wage for its U.S. employees to three times the current federal minimum wage. The CEO explains that the company needs to ... provide its employees a living wage, regardless of what the law requires. According to Milton Friedman, did the corporation fulfill its duty? No, because the wage hike will drastically increase the corporation's liabilities and likely harm its stock price. No, because the CEO's salary is still hundreds of times what the corporation's employees will be paid. Yes, because the corporation is going beyond what the government requires it to do, in order to advance the public good. Yes, because employees will now be able to afford to purchase more of the company's products. CONCEPT Corporate Governance 2 Which of the following correctly pairs the levels of the federal court system with the types of cases each decides? U.S. Supreme Court - trials; U.S. Circuit Court - appeals 10/4/2020 Sophia :: Welcome https://strayer.sophia.org/spcc/business-law/milestone_take_feedbacks/6399851 2/12 U.S. Circuit Court - trials; U.S. District Court - trials U.S. Supreme Court - appeals; U.S. Circuit Court - trials U.S. Circuit Court - appeals; U.S. District Court - trials CONCEPT Federal Courts in the U.S. 3 Select the true statement about the relationship between law, ethics, and business. People generally have similar opinions on what actions or conduct are called moral, and the marketplace rewards businesses that conduct themselves in such a manner. Since morals and ethics are not objective and cannot be specifically measured, the relationship between the value of a business and its ethical conduct is murky at best. Each person has a different definition of what is moral or ethical, so it is not possible for businesses to know what qualifies as ethical conduct. The marketplace is generally unconcerned with whether or not businesses conduct themselves morally, since morality is difficult to define. CONCEPT What Is Ethics? 4 The CEO of Oil Company X is dismayed to learn that oil has been leaking from one of its off-shore rigs into the Gulf of Mexico for the last five years. In deciding how to proceed, the company identifies a range of stakeholders, considers how different courses of action would impact each stakeholder, and determines which core values each decision would satisfy. [Show More]

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