Question

1) Explain how you think a business person is most likely to get into trouble in tort law and criminal law.

2) Explain how you think a business leader should act to reduce unethical behavior in his/her business.

Answer 1

1. A business person may most likely get in to trouble in tort law and criminal law when he abuses his power , indulges in financial crime due to misappropriation of public funds, reveal false information that may affect the decision of the users of financial statements and investors, avoid tax and make illegal money, has huge unaccounted wealth, takes decisions that are detrimental to public at large and maligns the organization's image.

2. A business leader must be able to distinguish between what is right and what is not based on the situation he/she is in. They must not fall prey to short term profits or strategies for their personal gains and must work for the welfare of the public or organization that they are in. They must report all incidents of unethical behavior and incorporate a strict culture of ethics in their work place.