Importance of Business Law for MBA Students

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Lectures by Dr. Tabrez Ahmad,
Importance of Study: Legal Aspects of Business for a Management Professional

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Importance of Business Law for MBA Students

  1. 1. Dr. Tabrez Ahmad KIIT Law School, KIIT University
  2. 2.  The business law studies are very important, as it helps the management professionals in realizing the business ethics, he or she must follow, in order to run a proper and authenticated business. This must be in accordance with the laws and regulations prevailing in the society. The business law studies are necessary for every management graduate whether he want to setup a proper business, or willing to join a service as a manager.
  3. 3.  Doing a proper business with an authenticated business license and registration gives confidence. This makes business case laws studies very important. It has been proven, that most clients are comfortable in doing businesses, provided they have a government license in hand, and an approval stamp for their business. It gives immense confidence in handling day to day business requirements to those who know the legal aspects of business.
  4. 4. All Opportunities Laws Codes of Conduct Morals (Ethics) Economics All Means Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 4
  5. 5. Society Business Organizations Gov’t Laws Business & Professional Codes of Ethics Moral Values Within Society Normative Ethics: “Enlightened Self-interest” Qualitative Quantitative Rights Egoism Duties Utilitarianism Wednesday, September 16, Dr. Tabrez Ahmad, Associate 2009 5 Professor of Law, KIIT Law School
  6. 6. Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 6
  7. 7. CONCEPTUAL BASIS FOR LAWS? God? Citizens? Other? (Compare the approaches to ethical reasoning.) CONCEPTUAL BASIS FOR GOVERNMENTS' POWERS? God? People? Other? Constitutions: Creates a government, delegates legal authority and limits the use of that authority. WHAT TYPE OF LEGAL SYSTEM EXISTS? Compare Common Law systems to Civil/Code systems and others. In “common law” systems, how do courts make law? Stare Decisis for judicial precedents Interpreting laws from other branches As an original source of laws Exceptions to Stare Decisis What is the proper role for justices? HOW MANY DIFFERENT SOVEREIGN GOVERNMENTS EXIST? What are the branches of each government and their separate powers? How are conflicts resolved? Executive Judicial Legislative Administrative Agencies How are the powers distributed between them? In Federalist systems: If the state conflicts with national law, which takes precedence? If national law conflicts with international law, which takes precedence? Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 7
  8. 8. WHAT IS LAW? FUNCTIONS CERTAINTY VS. FLEXIBILITY WHAT ARE THE BASES CONCEPTUALLY FOR LAW? NATURAL LAW POSITIVISTS HISTORICAL SOCIOLOGICAL/REALISTS ECONOMICS EVIDENCE OF THE INFLUENCE OF ALL OF THE ABOVE CAN BE FOUND IN SOCIETY AND ITS LAWS. THE DIFFERENT APPROACHES TO NORMATIVE ETHICAL REASONING ARE REFLECTED IN THE ABOVE. Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 8
  9. 9. WHAT TYPES OF LAWS EXISTS? CONSTITUTIONS LEGISLATIVE: CODES/STATUTES/ORDINANCES EXECUTIVE: INTERNATIONAL TREATIES/CONVENTIONS AND ORDERS JUDICIAL: PRECEDENTS UNDER THE STARE DECISIS PRINCIPLE IN COMMON LAW SYSTEMS ADMINISTRATIVE AGENCIES: RULES OR REGULATIONS and ORDERS IN CASE OF CONFLICTS, WHICH HAVE PRIORITY? LEGAL AND ETHICAL CRITICAL THINKING SET ASIDE PRECONCEIVED BIASES IDENTIFY ALL ISSUES THAT MUST BE RESOLVED IDENTIFY AND OBJECTIVELY UNDERSTAND THE IMPACTS ON STAKEHOLDERS AND THEIR POSITIONS APPLY THE RELEVANT PRINCIPLES RATIONALLY, USING AVAILABLE PRECEDENTS AND EXAMPLES DO NOT LOSE SIGHT OF LAWS’ PUBLIC POLICY PURPOSES Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 9
  10. 10. Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 10
  11. 11. BASIC DISTRIBUTION OF POWER: Union: Delegated Limited Separation of Powers with Checks and Balances Supremacy (and Preemption Doctrine) Use Limited by Individual Rights States: Reserved “Police Powers” POWERS TO REGULATE BUSINESSES Union State Dr. Tabrez Ahmad, Associate Wednesday, September 16, Professor of Law, KIIT Law School 2009 11

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