Chapter Overview
Strong & Ethical Culture
Legal Issues
Licenses & Permits
Forms of Organizations
100
This creates a better work environment for everyone
What is creating a strong, ethical culture for a firm?
100
A dilemma that involves doing something good for the company, but may be unethical.
What is an ethical dilemma?
100
At the beginning it is essential to...
When should a business hire an attorney?
100

Selling firearms

Which type of business activity would require a federal license/permit?

100
Sole proprietorships, Partnerships, Corporations, and Limited Liability Corporations
What are different business organization types?
200
Taking steps in the beginning to establish a legal basis for your firm.
What is dealing effectively with legal issues?
200
An official statement of a company's values on certain ethical and social issues.
What is a code of conduct?
200

Document that deals with the split of equity among founders of the firm

What is a Founders' Agreement?

200

Constructing/Modifying place of business

Which type of business activity would require a state license/permit?

200
One owner with low entrance and maintenance costs
What is a sole proprietorship?
300
Federal, state, and local permits and licenses
What are legally necessary for the start up of a business?
300
Training videos/DVD programs, ethics online courses, consulting services, and train the trainer curriculum.
What are different types of ethical training services?
300

Meet All Contractual Obligations, avoid under capitalization, get everything in writing

How Can A Company Avoid Legal Issues?

300

Tattoo Artists

Which occupation would require a occupational or professional license/permit?

300
A business organization with the ability to have both limited and general partners.
What is a limited partnership?
400
The most common business organization form in the United States
What is a limited liability corporation?
400
Make thics a priority, enforce a code of ethics, lead by example, keep commitments, etc.
How can you improve ethics in an organization?
400

Human Resource Ethical Problems, Conflicts of Interest, Customer Confidence and Inappropriate use of corporate resources

What Four Most Common Ethical Problems Occur in an Organization?

400
C Corporation and Subchapter S Corporation
What are the two forms of corporations?
500
63% of employees do this
What percentage of employees report unethical behavior?
500

Stopped sales, did mass recall, and apologized 

What did Fitbit do to rectify the issues that occurred with the Force?

500
When net income is taxed at both the corporate and shareholder levels.
What is double taxation?
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