12 May WHICH OF THE FOLLOWING IS A TYPE OF LAW REFERENCING FORMAL RULES EMBODIED IN JUDICIAL DECISIONS RENDERED BY COURTS?
Question 1The ______ approach recognizes that “business decisions consist of continuous, interrelated economic and moral components.”ProceduralSystemsConciliatoryMandated5 points Question 2Which of the following was created by food advertisers in an attempt to halt government regulation aimed at stopping marketing preying on children’s vulnerability?The Children’s Advertising Review UnitThe Minor’s Board UnitThe Minor Protection Review UnitThe Children’s Enhancement Board5 points Question 3As the public has become more concerned about childhood obesity, which of the following is a government agency referenced in the text that is considering a ban on certain types of children’s advertising?The American Consumer AgencyThe Federal Communications CommissionThe Federal Trade CommissionThe Federal-State Advertising Coalition5 points Question 4Which of the following is a theory that recognizes that firms have relationships with many constituent groups which both affect and are affected by the actions of the firm?StakeholderStockholderRelationalCohesive5 points Question 5Which of the following has the responsibility for deciding which allocation of resources and rewards in a business makes the most business sense?The general managerThe in-house lawyerAn independently retained lawyerAn independently retained law firm, not just one lawyer5 points Question 6Susan, the CEO of ABC Company, which was involved in the production and sale of hair care products, decided to hire new employees to develop new product lines for a planned expansion into the dog shampoo arena. She was concerned, however, that the employees specializing in canine products might leave at some point, taking company secrets with themfor use in competition with ABC. She, therefore, required that the employees sign contracts containing covenants not to compete. Susan also consulted her in-house counsel,Sam, regarding the effect of some new regulations involving the use of certain chemicals in shampoo and conditioner. Sam told her, however, to ignore the regulations until sometype of investigation of the company was started. Sam says that more than likely no one will ever check to see whether or not ABC is in compliance. Susan disagrees with hisadvice and decides to seek other counsel. The covenants not to compete involved which of the following types of law?PublicPrivateCircumscribedTangent5 points Question 7Which of the following was enacted after widespread abuses in the subprime mortgage market?The Walsh-Healy Mortgage Reformation and Consumer Protection Act of 2009The Mortgage Lending and Financial Reform Act of 2009The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010The Financial Institution Regulatory Pronouncement and Consumer Revision Act of 20105 points Question 8Which of the following is NOT a way in which U.S. law protects workers?Through regulating certain terms and conditions of employmentThrough requiring the employer to provide certain benefitsThrough protecting civil rights in the workplaceThrough requiring the provision of educational opportunities to workers5 points Question 9Which of the following is not a component of legal astuteness as referenced in the text?A set of value-laden attitudes about the importance of law to the firm’s successA practice of leaving the resolution of legal issues to outside counselThe ability to exercise informed judgment when managing the legal aspects of businessContext-specific knowledge of he law and the appropriate use of legal tools5 points Question 10Which of the following was the result in Sorrell v. IMS Health Inc., the case in the text in which drug manufacturers challenged as unconstitutional a Vermont statute prohibiting pharmacies form selling prescriber-identifying information for marketing prescription drugs without the consent of prescribers?That although speech promoting marketing was not protected by the First Amendment, the law was unconstitutional based on the due process clause.That the statute regulated commercial speech which was evaluated under an “intermediate” standard and that the law was, therefore, constitutional.That the statute did not involve constitutional issues and was, therefore, a permissible type of regulation.That the conduct prohibited by the law was protected by the First Amendment and that the law was unconstitutional.5 points Question 11Which of the following is a type of law referencing formal rules embodied in constitutions and statutes enacted by legislatures?PublicPrivateSubstantiveRemedial5 points Question 12Which of the following is a term addressing the ability of a manager to communicate effectively with counsel and to work together to solve complex problems?Legal astutenessConciliatory interactionMediationArbitration5 points Question 13Susan, the CEO of ABC Company, which was involved in the production and sale of hair care products, decided to hire new employees to develop new product lines for a planned expansion into the dog shampoo arena. She was concerned, however, that the employees specializing in canine products might leave at some point, taking company secrets with themfor use in competition with ABC. She, therefore, required that the employees sign contracts containing covenants not to compete. Susan also consulted her in-house counsel,Sam, regarding the effect of some new regulations involving the use of certain chemicals in shampoo and conditioner. Sam told her, however, to ignore the regulations until sometype of investigation of the company was started. Sam says that more than likely no one will ever check to see whether or not ABC is in compliance. Susan disagrees with hisadvice and decides to seek other counsel. The use of covenants not to compete involves which of the following forces identified by Michael Porter and referenced in the text?Supplier powerThreat of entrySubstitutionBuyer power5 points Question 14Congress rescinded the jurisdiction of which of the following agencies over advertising to children?The American Consumer AgencyThe Federal Communications CommissionThe Federal Trade CommissionThe Federal-State Advertising Coalition5 points Question 15Which of the following is not one of the four primary public policy objectives furthered by laws and regulations applicable to U.S. business?Promoting economic growthProtecting workersPromoting consumer welfarePromoting governmental regulationPromoting public welfare5 points Question 16Through which of the following can managers help shape the legal environment in which they do business?By lobbying legislatorsBy forming coalitionsBy refusing to follow laws viewed as unneeded by company officialsBy lobbying legislators and by forming coalitions, but not by refusing to follow laws viewed as unneeded by company officials5 points Question 17Managers can make their own ______ law by entering into contracts and crafting certain governance structures.PublicPrimaryCohesivePrivate5 points Question 18Which of the following is an advocacy group that has lobbied against marketing to children?The Alliance to Ban Advertising Targeting ChildrenThe Protect the Children FoundationThe Center for Science in the Public InterestThe Group for Ethical Marketing Practices5 points Question 19 Which of the following is a type of law referencing formal rules embodied in judicial decisions rendered by courts?PublicPrivateSubstantiveRemedial5 points Question 20Susan, the CEO of ABC Company, which was involved in the production and sale of hair care products, decided to hire new employees to develop new product lines for a planned expansion into the dog shampoo arena. She was concerned, however, that the employees specializing in canine products might leave at some point, taking company secrets with themfor use in competition with ABC. She, therefore, required that the employees sign contracts containing covenants not to compete. Susan also consulted her in-house counsel,Sam, regarding the effect of some new regulations involving the use of certain chemicals in shampoo and conditioner. Sam told her, however, to ignore the regulations until sometype of investigation of the company was started. Sam says that more than likely no one will ever check to see whether or not ABC is in compliance. Susan disagrees with hisadvice and decides to seek other counsel. The government regulations pertaining to the use of certain chemicals involved which of the following types of law?PublicPrivateCircumscribedTangent5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points 5 points
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