Business Law and Ethics

QUESTION

Business Law and Ethics

Submit via turnitin box, Each question is worth 25 points:

• Research the steps to incorporate a business in NYS. Submit a link and a paragraph explaining the steps the steps in your own words. Hint – This is an application of Lecture 1.
• Explain the difference between a director and officers.
• Describe the role/definition of moral relativism if you assume that as far as the business ethics discussions re: bribes and child labor, you agree that it has to be done. So if a child must work to feed themselves for daily sustenance; You have to take this position and answer the question regarding moral relativism.
• If you are the business lead in India where it is standard practice to pay bribes and general corruption and lack of regulation is rampant –e.g. no pollution/environmental regulation. As a result, children in the surrounding areas have serious defects—how do you handle if the choice is paying the bribes, hurting the environment and children around the plant/business OR losing your job and being unable to support your family. Include reasons to support your answer – you can take either stance, lead the project with the when in Rome do as the Romans do or quit and face financial troubles.

ANSWER

Incorporating a Business in NYS

https://www.incorporate.com/learning-center/new-york/

The incorporation process begins with the selection of a business name that follows the state’s regulations and that has not been already registered by another business, after which the business owner (s) file for the certificate of incorporation with the NY Department of State. The business owners then hold a meeting to come up with bylaws that will govern operations, after which they request a Federal Employer Identification Number from the IRS. After that, the application for the necessary permits and licenses and the submission of the business’ first report are done. It is also a requirement for the business to submit its biennial reports to the Department of State, after which the payment of incorporation fees is done (CSC, n.d.).

Difference between a Director and Officers

A director is an individual who is involved in the management of the important affairs of a business, whereas an officer is in charge of overseeing the daily operations of a business. An officer is directly involved in daily business management operations and can be either a chief executive officer, a chief financial officer, a company president or vice president, or even a treasurer. A director is an appointee of the company’s owner or shareholders and is a member of the board of directors.

Moral Relativism

Moral relativism refers to the notion or belief that there is no absolute or universal set of moral standards or principles (Harman, 2015). Moral relativism advocates for people to accept that morals are different in different regions. For instance, in some regions, child labor is considered unethical and immoral. In other regions, however, children need to work to sustain themselves and feed themselves. Societies should, therefore, accept the existence of different moral values since there are no universal moral principles. It would be unjustified to condemn children working when they need to work to feed themselves.

Moral Issues in Business

When in Rome, do as the Romans do. Every human being needs to work in order to support themselves and their family. In the case scenario, the only other option, other than conducting business operations in the current conditions in India, is to quit working. An individual with a family to support cannot quit their job, as their family depends on them. In addition, there is no universal set of moral principles (Harman, 2015). In the scenario provided, bribery and corruption are the order of the day. Business people have to abide or risk failure. The logical choice is, therefore, “doing as the Romans do”.

References

CSC. (n.d.). New York. Retrieved June 01, 2019, from https://www.incorporate.com/learning-center/new-york/

Harman, G. (2015). Moral relativism is moral realism. Philosophical Studies, 172(4), 855-863.