Assignment 7 (20 points) Assignment 7: Business and Society Instructions Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress. Review Lesson 4 of the Course Overview for instructions about turning in your assignments. Assignment Questions In Section 7, you learned about business and society. Now, you'll apply what you learned. 1. Describe at least one global trend that you think offers a business opportunity in the global marketplace. (1-5 sentences. 2.0 points) If companies optimized the massive climate change mitigation movement, they could make a considerable profit. For example, if a company adheres to more climate-friendly policies will have a better opportunity for money then company’s who has an outrageous carbon footprint. They could also directly make money from this by selling things that either help the environment directly or help the environment in the notion that it doesn’t hurt the environment. 2. Describe at least three risks a company might face if it participates in global trade. (1-3 sentences. 3.0 points) Some risks could be foreign exchange risks because country’s laws and regulations continuous change that could interfere with business operations, as well as cultural risks because there could be some clashes between the different cultures that disrupt business. Lastly, there could be shipping risk, when selling to different countries international shipping could become tricky and unreliable because it’s hard to confront their wrongdoings from another country. 3. Describe the purpose of the SEC. (1-4 sentences. 2.0 points) The SEC demand and identify financial obstacles of new companies by calculating the risks going into the business to protect investors from fraud and lies of success from unprofitable businesses. The SEC’s purpose is also to regulate the market. Page 1 | © Edgenuity Inc 3. Go to the EPA Web site and learn about one of the environmental laws that may affect businesses. Explain the law and how it might affect a business. (1-4 sentences. 3.0 points) For companies involved in produce and agricultural, the Pesticide Registration Improvement Act (PRIA) can affect business as pesticides and fertilizers are used heavily in agriculture. This act applies service fees and restrictions on pesticide use that can lead to bug infestation on crops which will ultimately affect business. 4. Choose a popular franchise, and visit the company's Web site to learn about its franchising policies. List at least three things you learned, such as costs franchisees must pay, or other rules or requirements. (1-3 sentences. 3.0 points) TIP: Popular franchises include McDonalds®, SUBWAY®, Dunkin' Donuts®, Cold Stone Creamery®, 7-Eleven®, Days Inn®, Great Clips®, Molly Maid®, and many more. I choose Molly Maid for my franchise. Molly Maid and all those associated with their brand must adhere to CDC guidelines when operating their business. Their franchise fee is paid upfront and can vary from ten thousand dollars to fifty thousand dollars. Major franchises associated with Molly Maid and really anywhere can cost from fifty thousand dollars to two hundred thousand dollars. 6. Describe a real or made up example of a contract that includes consideration. (1-5 sentences. 2.0 points) Will made a contract with Mary stating that as long as Mary pays Will every Wednesday, Will will take care of Mary’s cat wholeheartedly as if it was his own. The trade that is agreed upon represents the consideration of both parties. 7. Describe a real or made up example of the tort of interference. (1-5 sentences. 2.0 points) Sally started a small business in 2019 that was successful when she combined with a business partner and expanded considerably in 2022. Unfortunately, a rival business hired someone to edit a video of Sally portraying her doing inappropriate actions. Following the video surfacing, Sally lost her business partner, causing major financial losses to her company. 8. Describe a real or made-up but possible example of a situation where an employee faces a conflict of interest. Explain at least two things the company could do to help make sure the employee won't be tempted into unethical behavior by that conflict of interest. (3.0 points) One of the more common examples is in the instance where an employee in a high position within the company develops an inappropriate relationship with a subordinate. This could develop into favoritism and other unethical behaviors in favor of the employee they are involved with. To prevent these events, many companies have rules in place that justify firing both employees in the inappropriate relationship. Page 2 | © Edgenuity Inc
