Law and Informal Institutions free essay sample

International Business Chapter 2 Review Questions 1. Name the one pillar that supports formal institutions and the two additional pillars that support informal institutions. Answer: Regulatory Pillar that supports formal institutions and other two additional pillars name are Normative Pillar and Cognitive Pillar. Normative pillar refers to how to values, beliefs, and actions- collectively known as norms of other relevant players influence the behavior of focal individuals and firms. Cognitive pillar is the school support for informal institutions. It refers to the internalized values and beliefs that guide individual and firm behavior. 2. How does political risk affect global business? Answer: Managers and firms rationally pursue their interests and make choices within the formal and informal constraints in a given institutional frame work. While formal and informal institutions combine to govern firm behavior, in situations where formal constrains are unclear or fail, informal constrains will play a larger role in reducing uncertainty and providing constancy to managers and firms. We will write a custom essay sample on Law and Informal Institutions or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 3. Describe the differences among the three types of legal systems. Answer: Three types of legal systems are Civil law, Common Law, and Theocratic Law. Civil Law is a tradition that uses comprehensive statutes and codes as a primary means to form legal judgments. Common law is A legal tradition that is shaped by precedents from previous judicial decisions. Theocratic law is a legal system based on religious teachings. 4. Name and describe the three economic systems. Which economic system is the most common and why? Answer: Three economic systems are Market economy, command economy and Mixed  economy. Market economy is an economy that is characterized by the â€Å"invisible hand† of market forces. Command Economy is an economy in which theoretically all factors of production are state owned and state controlled, and all supply, demand, and pricing are planned by the government. Mixed economy is an economy that has elements of both a market economy and a command economy. 5. In what ways do institutions influence individuals’ and firms’ behaviors? Explain your answer. Answer: Institutions influence the decision-making process of both individuals and firms by signaling what conduct is legitimate and acceptable and what is not. Basically, institutions constrain the range of acceptable actions. 6. What fundamental aspect of democracy is relevant to the effective conduct of global business? Answer: Democracy is a political system in which citizens elect representatives to govern the country on their behalf. Usually the political party with the majority of votes wins and forms a government. Fundamental aspect of democracy that is relevant to global business is an individual’s right to freedom of expression and organization. 7. Name and describe the four types of totalitarianism. Answer: Communist Totalitarianism centers on a communist party. This system was embraced throughout central and eastern Europe and the former soviet union until the late 1980’s. It is still practiced in China, Cuba, Laos, North Korea, and Vietnam. 8. Give an example of how theocratic law affects daily business operations. Answer: Theocratic law is based on religious techniques. In Saudi Arabia, McDonald’s operates â€Å"ladies only† restaurants in order to comply with the  Koran’s ban on direct, face to face contact between unrelated men and women in public. 9. Name three types of intellectual property, and explain how they could be used in business. Answer: Patents are legal rights awarded by government authorities to inventors of new products or processes. The inventors are given exclusive (monopoly) rights to derive income from such inventions through activities such as manufacturing, licensing, or selling. Copyrights are the exclusive legal rights of authors and publish and disseminate their work, for example the book you are reading now is protected by copyright. Trademarks are the exclusive legal rights of firms to use specific names, brands, and designs to differentiate their products from others. 10. Our current system of intellectual property protection stems from what early patent law? Answer: Couldn’t find it in the book but guessing, most probably it is a civil law?

Free Essays on True Evil

The True Evil Everyone is able to commit evil within every human being on earth. It is how we overcome these urges to use this evil that defines who we are. In Mary Shelley’s gothic novel, â€Å"Frankenstein†, evil is portrayed in many ways through Victor Frankenstein’s actions. The main conflict in the novel is based on the â€Å"monster† Victor Frankenstein created in his laboratory. He neglects his responsibility to the monster he created by ignoring its existence, and his cowardice leads to feelings of guilt and unhappiness that cause his life to unravel and the people he loves to perish. His refusal to be accountable for his action brings the misery and misfortune that constitute the foundation of the novel. As the monster explains how he was tellinsg how he has a difficult time adjusting to his new surroundings and how he was hated by all people he first came in contact with, â€Å"he struggled violently. â€Å"Let me go,† he cried:†monster! Ugly wretch! You wish to eat me and tear me into pieces†(Shelly 136). This proves that every person he encounters thinks that he is going to harm them. The monster also was telling how he learned all about the human experience from simply observing people, how to speak, to read, to write, to be happy, to love. He was talking about these people that he loved in the hope that they could accept him, and how when he introduced himself, he was met with fear and hate, and how he ran away from the people, and how they moved away and left him all alone again. He became bitter to mankind and lost all the love he used to preserve. Frankenstein t went to Geneva, and found William, and killed him, and then framed Justine for the murder. He made a deal with Victor, if the monster would leave the civilized world forever if Victor would only agree to create a female companion for him. Victor had sympathy for the monster, but felt extreme hatred when he was telling the two murders the monster com... Free Essays on True Evil Free Essays on True Evil The True Evil Everyone is able to commit evil within every human being on earth. It is how we overcome these urges to use this evil that defines who we are. In Mary Shelley’s gothic novel, â€Å"Frankenstein†, evil is portrayed in many ways through Victor Frankenstein’s actions. The main conflict in the novel is based on the â€Å"monster† Victor Frankenstein created in his laboratory. He neglects his responsibility to the monster he created by ignoring its existence, and his cowardice leads to feelings of guilt and unhappiness that cause his life to unravel and the people he loves to perish. His refusal to be accountable for his action brings the misery and misfortune that constitute the foundation of the novel. As the monster explains how he was tellinsg how he has a difficult time adjusting to his new surroundings and how he was hated by all people he first came in contact with, â€Å"he struggled violently. â€Å"Let me go,† he cried:†monster! Ugly wretch! You wish to eat me and tear me into pieces†(Shelly 136). This proves that every person he encounters thinks that he is going to harm them. The monster also was telling how he learned all about the human experience from simply observing people, how to speak, to read, to write, to be happy, to love. He was talking about these people that he loved in the hope that they could accept him, and how when he introduced himself, he was met with fear and hate, and how he ran away from the people, and how they moved away and left him all alone again. He became bitter to mankind and lost all the love he used to preserve. Frankenstein t went to Geneva, and found William, and killed him, and then framed Justine for the murder. He made a deal with Victor, if the monster would leave the civilized world forever if Victor would only agree to create a female companion for him. Victor had sympathy for the monster, but felt extreme hatred when he was telling the two murders the monster com...