Business Judgment Rule Scholarly Resource Discussion
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Business Judgment Rule Scholarly Resource Discussion
your thread must be supported with at least 1 scholarly resource (cited in current Bluebook format). You must also reply to at least 2 classmates’ threads with constructive feedback that forwards the academic conversation. Each reply must be at least 150 words.
Student #1 JB
DB 4; Business Judgement Rule
As defined within our text, there are four elements that protects a director/officer from liability for business actions and/or decisions that they have conducted: 1) act in good faith; 2) where the director/officer is not related to the subject of the business judgement; 3) where the director/officer is notified with respect to the issue of the business judgement to the extent that the director reasonably believes to be apposite under the conditions; and 4) where the director/officer sensibly believes that the business judgment in question is in the best interests of the corporation. Angela Schneeman, The Law of Corporations and Other Business Organizations 9-2a (6th ed. 2006).
Considering these four factors in determining the status of liability for corporate directors and officers, I believe that the business judgment rule is fair and just. The purpose of a business corporation, just like any other form of business entity, is to allow a party to make an appropriate choice of which type of business organization to begin in relation to each type’s advantageous and disadvantageous characteristics. In other words, it is to invoke freedom through individual choice. In regard to any form of business entity chosen, I do not believe that the existence of the business judgment rule does not offer anything particularly positive over any of the other business entities.
For example, if I start a sole proprietorship for my restaurant and I hire a store manager to supervise the store and its employees during my absent, then I will not punish him for a poor outcome resulting from one of his decisions or actions; as long as he was acting in good faith, not practicing negligence, and upheld my business’ best interest. In a sense, this is exactly what the business judgment rule is doing—it is offering a blanket of protection in relation to unfavorable outcomes of business decisions. I believe with certainty that the business judgment rule is consistent with a Christian worldview. The Holy Bible states, “The integrity of the upright guides them, but the crookedness of the treacherous destroys them.” Proverbs 11:3 (English Standard Version). This excerpt can be used in many applications, but it fits so well with this scenario. Directors and officers who act with good faith and integrity will be shepherded through and absolved of liability, but those who act negligently shall be punished.
The business judgment rule does not seem too lenient on corporate managers, as it protects from liability only in circumstances where decisions are made in good faith, without personal interest, and in the best interest of the corporation. Angela Schneeman, The Law of Corporations and Other Business Organizations 358 (6th ed. 2012). In matters that a decision was made with blatant disregard for negative outcomes for the corporation, this rule would not protect against liability. Id.
A corporation is a property belonging to its shareholders, whose function is to maximize the return to those shareholders. Rodney D. Chrisman, The Purpose of the Corporation learn.liberty.edu (February 9, 2018). Any corporate actions or decisions should be made with the ultimate end goal of building the wealth of the corporation overall. Id.
The business judgment rule is consistent with a Christian worldview in that it expects well-informed decisions to be made of good faith and in the best interests of the corporation. Angela Schneeman, The Law of Corporations and Other Business Organizations 358 (6th ed. 2012). A reference in this week’s presentation to Exodus 20:16 “Thou shalt not steal” makes the point that a corporation is the property of its shareholders and therefore wealth should not be stolen from it. When officers of the corporation are acting with the end goal of building gains for the shareholders and the health of the corporation, it fits with a biblical view of how property should be handled.
Business Judgment Rule Scholarly Resource Discussion
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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