Discussion Questions Week One Essay Example | Topics and Well Written Essays - 750 words

Discussion Questions Week One - Essay Example When applying a check and balance system in a business function, the most common approach is auditing. Outside auditors help business with inventory, expenditures, payroll, business credit cards, and so forth. This helps check employees and management holding them accountable for their business practices. On the other hand, if an auditor does not do a good job, like in the case of Enron’s auditors they can be held accountable to state and federal law. The three check and balance branches of the government can also be useful in business. Laws, implementing the laws, and enforcing the laws constitutionally can help businesses. I would apply a check and balance system similar to the federal checks and balance system. Charles-Louis de Secondat, a French philosopher, introduced the concept several hundred years ago of separation of powers. It has been used as an example for not only the U.S., but many other democracies. The check and balance I would apply would be managerial (Executive), board of directors (Legislative), and shareholders (Judicial). These branches could execute many decisions, like the auditor brought in by the board of directors, or even a merger voted on by shareholders. The value of the checks and balance system on a business would depend on how successful the business was. Enron and WorldCom did not have a good check and balance system or they would not have gone bankrupt. On the other hand, Exxon/Mobile, IBM, and other successful companies execute their checks and balance system efficiently, hence their success. 2. What are some examples of several methods of discovery? How would you differentiate between these types of discoveries? How would you determine what must be provided by the party receiving the discovery request? A few examples of discovery are depositions, interrogatories, request for an admission, request for a physical examination (teeth impressions, DNA, hair