Conduct the “Business Regulation” simulation found on your rEsource page. Identify legal issues that are present in the simulation and note the legal principles that apply to each of the issues you identified. Some issues may be more obvious than others. Repeat the simulation as much as needed to be sure you have identified all the legal issues and their corresponding legal principles.
In your learning team:
Collaborate to identify the legal issues and principles that are present in the simulation. Share your findings with your teammates, and discuss any issues you identified that they did not. Ask for clarification on issues your teammates identified that you did not find. At the end of the collaboration, each team member must produce a table that displays the issues and principles that are relevant to the “Business Regulation” simulation
• Conduct the “Contract Creation and Management” simulation found on your rEsource page. As you complete the simulation, identify the legal issues that are present and note the legal principles that apply to each of those issues you identified. Also, reflect on the related legal principles presented in the readings during this week.
• Prepare a business memo to discuss what legal risks and opportunities arise in the “Contract Creation and Management” simulation. Identify what a manager can do to avoid those risks, minimize the liabilities, and benefit from the opportunities found in the simulation. Each legal risk or opportunity is governed by specific legal principles. Identify those principles and relate the specific measures managers can take to minimize legal risk or realize legal opportunities to these principles. Evaluate the alternatives that were presented to resolve the problems identified in the simulation. Explain which alternative approach you believe is best and why.