FIU BUL 6810/ 6810 quiz 1

Question Question 1 The ______ approach recognizes that “business decisions consist of continuous interrelated economic and moral components.” Procedural Systems Conciliatory Mandated 5 points Question 2 Which 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 Unit The Minor’s Board Unit The Minor Protection Review Unit The Children’s Enhancement Board 5 points Question 3 As 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 Agency The Federal Communications Commission The Federal Trade Commission The Federal-State Advertising Coalition 5 points Question 4 Which 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? Stakeholder Stockholder Relational Cohesive 5 points Question 5 Which of the following has the responsibility for deciding which allocation of resources and rewards in a business makes the most business sense? The general manager The in-house lawyer An independently retained lawyer An independently retained law firm not just one lawyer 5 points Question 6 Susan 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 counselSam 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? Public Private Circumscribed Tangent 5 points Question 7 Which of the following was enacted after widespread abuses in the subprime mortgage market? The Walsh-Healy Mortgage Reformation and Consumer Protection Act of 2009 The Mortgage Lending and Financial Reform Act of 2009 The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 The Financial Institution Regulatory Pronouncement and Consumer Revision Act of 2010 5 points Question 8 Which of the following is NOT a way in which U.S. law protects workers? Through regulating certain terms and conditions of employment Through requiring the employer to provide certain benefits Through protecting civil rights in the workplace Through requiring the provision of educational opportunities to workers 5 points Question 9 Which 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 success A practice of leaving the resolution of legal issues to outside counsel The ability to exercise informed judgment when managing the legal aspects of business Context-specific knowledge of he law and the appropriate use of legal tools 5 points Question 10 Which 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 11 Which of the following is a type of law referencing formal rules embodied in constitutions and statutes enacted by legislatures? Public Private Substantive Remedial 5 points Question 12 Which 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 astuteness Conciliatory interaction Mediation Arbitration 5 points Question 13 Susan 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 counselSam 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 power Threat of entry Substitution Buyer power 5 points Question 14 Congress rescinded the jurisdiction of which of the following agencies over advertising to children? The American Consumer Agency The Federal Communications Commission The Federal Trade Commission The Federal-State Advertising Coalition 5 points Question 15 Which 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 growth Protecting workers Promoting consumer welfare Promoting governmental regulation Promoting public welfare 5 points Question 16 Through which of the following can managers help shape the legal environment in which they do business? By lobbying legislators By forming coalitions By refusing to follow laws viewed as unneeded by company officials By lobbying legislators and by forming coalitions but not by refusing to follow laws viewed as unneeded by company officials 5 points Question 17 Managers can make their own ______ law by entering into contracts and crafting certain governance structures. Public Primary Cohesive Private 5 points Question 18 Which of the following is an advocacy group that has lobbied against marketing to children? The Alliance to Ban Advertising Targeting Children The Protect the Children Foundation The Center for Science in the Public Interest The Group for Ethical Marketing Practices 5 points Question 19 Which of the following is a type of law referencing formal rules embodied in judicial decisions rendered by courts? Public Private Substantive Remedial 5 points Question 20 Susan 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 counselSam 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? Public Private Circumscribed Tangent

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