DOMINGO‚ CPA BUSINESS LAWS THE LAW ON CORPORATION Corporation an artificial being created by operation of law‚ having the right of succession and the powers‚ attributes and properties expressly authorized by law or incident to its existence. Attributes of a Corporation: 1. It is an artificial being •Doctrine of piercing the veil of corporate entity or corporate fiction This is the doctrine to the effect that the separate personality of a corporation may be disregarded if such
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dilemma that every corporation faces when they have to make decisions regarding the firm’s profitability and their corporation’s social responsibility. The term "corporate social responsibility" came into common use in the late 1960s and early 1970s after many multinational corporations formed the term stakeholder‚ meaning those on whom an organization ’s activities have an impact. It was used to describe corporate owners beyond shareholders. The field of corporate social responsibility (CSR) has developed
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we are going to explain the role of shareholders‚ directors and partners in the different types of business; and then we will see the importance of legal constraints on decision making within business organisations. 1- THE ROLE OF THE SHAREHOLDERS: There are no shares in the sole trader and partnership ownership; that is why shareholders do not apply in these two types of businesses. In Private Limited Companies‚ there must be at least two shareholders but no maximum number. The principal
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When obeying authority one can often loose thought of morals and beliefs. In the experiments the men obey the authority figure by doing cruel things they would not usually do. These experiments turn mentally stable men into a person willing to inflict harsh punishments on innocent people while following orders. Night by Elie Wiesel‚ The Milgram Shock Experiment‚ and the stanford prison experiment shows how obedience to an authority can cause people to stray from their conscience. In the Stanford
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Celebrities have a moral responsibility to be good role models for the society‚ would you agree? First of all by using the dictionary the main definitions can be broken down; the definition for a celebrity is ‘a famous or well known person’. The definition of moral responsibility is ‘the idea that a person has moral obligations in certain situations.’ The definition of a good role model is ‘a person whose behaviour‚ example‚ or success is or can be emulated by others‚ especially by younger people
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| SHAREHOLDERS WEALTH MAXIMIZATION | 10/11/2010 About GSK - Our company Established in the year 1924 in India GlaxoSmithKline Pharmaceuticals Ltd. (GSK Rx India) is one of the oldest pharmaceuticals company and employs over 3500 people. Globally‚ we are a USD 45 billion‚ leading‚ research-based healthcare and pharmaceutical company. In India‚ we are one of the market leaders with a turnover of Rs. 1860 crore and a share of 5.2 per cent*. At GSK‚ our mission is to improve the quality of
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#6:Treasure Chest Problem: Someone offers to give you a million dollars($1‚000‚000) in one-dollar ($1) bills. To receive the money‚ you must lie down; the million one-dollar bills will be placed on your stomach. If you keep them on your stomach for 10 minutes‚ the money is yours! Do you accept the offer? Solution: Each dollar bill weighs 1 gram‚ if we multiply 1gram by 1‚000‚000 dollars we get a weight of 1‚000‚000 grams. If there are 454 grams in a pound then $1‚000‚000 will equal 2202 pounds
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Why do you think people attend college and university? There are many different reasons for people who attend college and university throughout worldwide. I prefer to write about most common and minor reasons of it. Firstly‚ I want to mention about dreaming. Everyone has dream ; big‚ enormously or dreams they can dream. More commonly‚ people want to live in a suitable and comfortable house‚ drive an expensive car or work as a director etc. In order to get all those things‚ they need to get a high
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wrote‚ “There is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game‚ which is to say‚ engages in open and free competition‚ without deception or fraud.” Friedman did not support firms acting illegally‚ unethically‚ or immorally; he believed the goal of firms was to maximize shareholder wealth within the legal boundaries of society. Government and citizens should assume their
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Smartphone is a blessing to society. Do you agree? The Smartphone has become an integral part of our life. The invention history of the Smartphone revolutionized the way with each other. Before Smartphone was invented‚ there is no such thing as using internet on cell phone to look for information. You could never do online shopping using a cell phone and you could never send email using cell phone without using the computer. Our lives would be very different without Smartphones.
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