Question

1. Discuss five elements important to a cost benefit analysis in settlement of a dispute

2. Discuss five of the basis guidelines in making ethical decisions.

3. Discuss the four elements necessary to establish negligence.

4. Discuss five functions of the law

5. Iraq the Heart of Atlanta Motel case (4.1)

Answer 1

1. Discuss five elements important to a cost benefit analysis in settlement of a dispute

Cost/Benefit Analysis is an analysis of the project costs or expenses incurred to the benefits derived from implementing a project.

1. Capital optimization- Every organization obtains better optimization of its capital from shorter settlement cycle time. The requirement to optimize shows eventually on its profit and savings. The financial metrics look favorable in order to carry out future project operations
2. Operations cost and savings- an analysis of the operating costs is based on the planning design of the system and its impact on the organization or company. A cost benefit analysis is done with the financial sheets from the user departments (e.g., Manufacturing, Marketing, Research & Development etc.). This describes the current costs associated, as well as the anticipated savings during the settlement period of the dispute.
3. Operational Ease- It can be categorized as both tangible and intangible. The improvement, maximization or minimization of cost or process time under tighter control over time, overhead costs, inventory and faster customer service, directly enables better and more efficient operations.
4. Risk reduction- During a dispute a shorter and efficient cost benefit analysis has the potential to reduce financial and business risks. A analysis considering exposure, market volatility and default probabilities against two distinct scenarios: a stress scenario, which could involve the default of lower levels of service or manufacturing production volumes and a major failure scenario, which captures the loss from a very high or immensely volatile service or production volume, which occurs much less frequently.
5. Payback periods and ROI (Return on Investment)- The payback periods allow companies to analysis its lock up time on investment, giving it a bigger and clearer investment plan and sufficient time to decide on management issues and strategy making. Some companies may have standards and consider inflation, interest, depreciation, amortization, etc. in order to calculate the payback and ROI.

1. 2.Discuss five of the basic guidelines in making ethical decisions.

1. Assessment- The situation ,must be assessed to make sure that law is required to be involved or if any decisions made may have legal implications, which must have an adverse effect on the company. The code of conduct and ethics needs to be looked at before proceeding with the decision making process. Also, a study must be done in order to evaluate the surroundings and indirect environment which might be affected by the decision.
2. Alternatives- The advantages and disadvantages needs to be placed on the table and weighed unbiased. Alternative decisions also need to be looked into in order to have better options and better chance of decision taking.
3. Analysis- The decision needs to take the test in order to evaluate its validity and range of error. It also helps in understand the tolerance limit which needs to be set in order to have an efficient and ethical decision. The external and internal issues have to be considered, keeping the mindset of the stake holders.
4. Application- Every action has a reaction. The result of the application needs to be evaluated on a major scale, and should be fair and beneficial to all, directly and indirectly involved.
5. Action- Finally, responsibility for the action should be taken in case of any issues or situations arising due to the decision. Once, clarity is maintained on the responsibility, the ethics is aligned to the decision maker, decision analyst, decision applicant who will be ready to act without any negligence

1. 3. Discuss the four elements necessary to establish negligence.

1. Duty- The recognition of the relationship between the parties involved in required in order establishing negligence. This enables stating the same level of responsibility of the parties involved towards each other.
2. Breach of duty- This enables establishing the point of the extent of knowledge the parties had of the situation, and the action based on this knowledge.
3. Causation- The parties need to be assessed in matter of their forecasting or foreseeing ability in the situation.
4. Damages- This is the final assessment where the damages are analyzed and further actions and compensations can be decided and alternatives can be weighed towards both parties and/or a single party.