bus 3800 exam 1

magna carta impact

(a) laid a foundation for modern democracy (b) established principles for individual rights (c) ensured fundamentals existed for business to flourish

FOUR ELEMENTS of NEGLIGENCE IN LAW

1. A Duty of Care Exists 2. There is a breach of that duty 3. A person suffers a loss 4. The loss is caused by the breach of duty and is sufficiently 'proximal'

5 Practical Reasons for Having a Sustainable Business

1. Customer Demands / Brand Image 2. Shareholder / Investor Relations 3. Regulatory Requirements 4. Can save costs / increase profits 5. Can create new businesses / profit centers

Personal Foundations

1. Determine your personal vision / ambition 2. Sensible personal time management 3. Be Aware of a Bigger Picture 4. Establish Personal and Business values - (And a subsidiary one - 'to Enquire') 5. Establish your Business Philosophy

4 FOUNDATIONS of PERSONAL BUSINESS SUCCESS

1. IDENTIFY YOUR OWN PERSONAL DREAM OR GOALS AND PLAN A COURSE TO PURSUE THEM 2. TIME MANAGEMENT 3. KEEP A WIDER VIEW -learn from others 4. KEEP TO PERSONAL VALUES ALWAYS

6 fundamental pre-conditions for business development

1. Security of Life and Property 2. Stable Sedentary Society 3. An Established Rule of Law 4. An Impartial Independent Judicial System 5. Freedom of Movement and Interaction 6. Stable Financial Structures and Exchange

LIMITING LIABILITY SUMMARY

1.Use a limited liability entity 2.Active Risk Management 3.Take out adequate insurance cover 4.Use appropriate contractual clauses that limit or exclude risk 5.Protect your assets

2 main fundamentals of magna carta

All those who govern ... (i) do so by and with the consent of the governed NOT by right from God and, (ii) are themselves under the law

CORE VALUES

INTERGRITY COMMITMENT UNITY POSITIVITY CONTINUOUS IMPROVEMENT ENQUIRE -ask questions if something doesn't feel right