Law 531 Week 2

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Quiana Fryar University of Phoenix Business Law/531 Recognizing and Minimizing Tort and Regulatory Risk Plan Mrs. Lillian Watson June 14, 2010 Recognizing and Minimizing Tort and Regulatory Risk Plan In today’s business environment it is important for all organizations to develop and maintain a plan to avoid regulatory risks. Management should be able to manage any risks through preventive, detective, and corrective measures. As a manager it is important to prevent extensive loss, environmental and commercial, preserve the companies’ public image and abide by pertinent environmental statues. Ensuring the company follows an extensive plan will help to eliminate any risks, by outlining steps that should be taken to resolve these…show more content…
Bates to find other reasons to accuse Alumina. This violation should never be sought out by the company since there is a failure to exercise care in ridding of waste products. Alumina owes to the public duty of care. Violating Ms. Bate could have also held the company liable for libel and defamation of character, had they performed an investigation and made public use of it. Ms. Bates and the newspaper could have publically damaged the company by causing critical harm to the organization reputation. Posting these types of damaging stories could also been confirmed as libel. It is important that all information is true statements and should include an ethical decision. The decision of Alumina, to settle the dispute through alternative dispute resolution was a great decision. This decision allows for both parties to come together to discuss the issues at hand without the input of the public or media. Both parties decided to reach a decision through mediation. The mediator has no direct relation to either party, so able to facilitate a win-win outcome. This allowed for Alumina to safeguard their reputation and save money by not going through litigation. Ms. Bates received punitive damages and signed a strict confidential agreement. All claims were dismissed and all information remains confidential. All organizations are expected to comply with local, state and governmental laws. If an organization experiences non-compliance to
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