1. MEET YOUR LEGAL, ETHICAL, AND SOCIAL OBLIGATIONS
Entrepreneurship
4/26/2017
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MEET YOUR LEGAL, ETHICAL, AND SOCIAL OBLIGATIONS
14.1 Understand Your Legal Requirements
14.2 Ethical Issues in Business
14.3 Meet Your Social Responsibilities
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2. Lesson 14.1 UNDERSTAND YOUR LEGAL REQUIREMENTS
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Lesson 14.1 UNDERSTAND YOUR LEGAL REQUIREMENTS
GOALS
Recognize how laws promote competition.
Study how regulations that protect businesses and the public affect your company.
Identify the laws protecting employee’s rights.
Recognize the importance of getting legal help.

3. REGULATIONS THAT PROMOTE COMPETITION
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REGULATIONS THAT PROMOTE COMPETITION
Antitrust legislation
Sherman Act
Clayton Act
Robinson-Patman Act
Wheeler-Lea Act
Government agencies that protect competition
Justice Department
Federal Trade Commission

4. LAWS THAT PROTECT BUSINESSES
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LAWS THAT PROTECT BUSINESSES
Patents
Copyrights
Trademarks

5. LAWS THAT PROTECT CONSUMERS
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LAWS THAT PROTECT CONSUMERS
Licenses
Zoning laws
Consumer protection laws

6. REGULATIONS THAT PROTECT EMPLOYEES
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REGULATIONS THAT PROTECT EMPLOYEES
Workplace discrimination
Equal Employment Act
Protection for disabled people
Safe working conditions
Family Medical Leave Act
Wages

7. GET LEGAL ADVICE Learn about laws affecting your business
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GET LEGAL ADVICE
Learn about laws affecting your business
Hire a lawyer
Prepaid legal plans

8. Lesson 14.2 ETHICAL ISSUES IN BUSINESS
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Lesson 14.2 ETHICAL ISSUES IN BUSINESS
GOALS
Study the meaning of ethics.
Recognize the need to behave ethically in your business.

9. WHAT IS ETHICS? Ethics is the study of moral choices and values.
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WHAT IS ETHICS?
Ethics is the study of moral choices and values.
Different cultures define ethical behavior differently.
A code of ethics is the level of ethical behavior demanded by an individual, a business, or a culture.

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BUSINESS ETHICS
Business ethics is the application of the principles of right and wrong to issues that come up in the workplace.

11. ETHICS AND BUSINESS Set high standards Establish an ethical workplace
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ETHICS AND BUSINESS
Set high standards
Myths about business and ethics
Consumer awareness
Establish an ethical workplace
Create a written code of ethics

12. Lesson 14.3 MEET YOUR SOCIAL RESPONSIBILITIES
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Lesson 14.3 MEET YOUR SOCIAL RESPONSIBILITIES
GOALS
Recognize your responsibilities to customers, suppliers, creditors, investors, and your community.
Respond to changes in the workplace.
Choose environmentally safe ways of doing business.

13. SOCIAL RESPONSIBILITIES
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SOCIAL RESPONSIBILITIES
Personal responsibility
Responsibilities to customers
Responsibilities to suppliers
Responsibilities to creditors and investors
Responsibilities to your community

14. PERSONAL RESPONSIBILITY
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PERSONAL RESPONSIBILITY
To yourself
To your family
To your friends

15. RESPONSIBILITIES TO CUSTOMERS
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RESPONSIBILITIES TO CUSTOMERS
Treat all customers with respect.
Be honest.
Avoid exaggerating the merits of your products or services.
Inform customers of possible dangers of the products you sell.
Handle all disputes fairly.

16. RESPONSIBILITIES TO SUPPLIERS
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RESPONSIBILITIES TO SUPPLIERS
Treat all suppliers with respect.
Refuse to participate in dishonest schemes your suppliers may suggest.
Give suppliers time to fill your order.
Handle all disputes fairly.
Let your current supplier know the reason for your decision if you change suppliers.

17. RESPONSIBILITIES TO CREDITORS AND INVESTORS
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RESPONSIBILITIES TO CREDITORS AND INVESTORS
Run your business as carefully as possible.
Let creditors and investors know when things are not going well.
Never conceal losses from them.

18. RESPONSIBILITIES TO YOUR COMMUNITY
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RESPONSIBILITIES TO YOUR COMMUNITY
Contribute money
Donate products or services
Get involved

19. RESPOND TO CHANGES IN THE WORKPLACE
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RESPOND TO CHANGES IN THE WORKPLACE
Accommodate your employees’ family needs
Consider flexible work hours

20. RESPECT THE ENVIRONMENT
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RESPECT THE ENVIRONMENT
Protect the environment from pollutants.
Conserve nonrenewable resources, such as coal and oil, by using them efficiently.
Reduce waste and dispose of waste responsibly.
Use environmentally safe and sustainable energy sources to meet your business needs.
Sell products that cause as little damage to the environment as possible.

21. LAWS COVERING THE ENVIRONMENT
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LAWS COVERING THE ENVIRONMENT
The Environmental Protection Agency (EPA) enforces federal laws concerning clean air and water.
If your business handles hazardous materials, you will need to become familiar with these laws.