LAW 531 Week 2 Assignment Business Regulation Simulation VERSION 2

This work includes LAW 531 Week 2 Assignment Business Regulation Simulation VERSION 2

Corporate responsibility, in areas such as compliance, ethics, and law is very significant to the sustainability and profitability of every organization. These areas have become key factors in many of the day to day business decisions that organizations face. It is imperative that management have a thorough knowledge of business regulation and the laws that surround it, specifically in the industry in which their organization does business. For instance, companies that do business close to lakes, streams, or the ocean, must know what environmental regulations exists that pertain to pollution and toxic waste. The federal government has formed an agency that is responsible for enforcement of environmental laws. This agency is called the Environment Protective Agency or EPA. In the following paragraphs, we will discuss how regulatory risks such as tort liability can be identified and managed through certain preventive and corrective measures. Alumina Business Simulation