Description
Purpose of Assignment
Employment costs are arguably a business's biggest expense. Consider how employment law regulates concepts such as discrimination, injuries on the job, employee vs. independent contractor, wrongful discharge, and unionization, to name a few. As you research for this assignment, consider the decisions made in this area are much more than business decisions but, in fact, impact lives. How do we reconcile between hurting employees and impacting the bottom-line? This is much tougher than it appears.
Assignment Steps
Resources: Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 18, 19, 20, and 21.
Scenario: As employment costs continue to escalate, it is incumbent upon organizations to continually monitor its internal operations to ensure best practices are being followed. To that end, your CEO has asked you to prepare a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.
Prepare a SWOT analysis in one of the following formats:
- A 7- to 10-slide Microsoft® PowerPoint® presentation,
- A comparison table in a maximum of 1,050 words, or
- A maximum 1,050-word written analysis in Microsoft® Word.
Examine the following:
- Consider the impact a principal and agent creates on the business and its employees.
- Compare how express, implied, and apparent authority created by the principal and agent impacts equal opportunities for employees.
- Identify the laws protecting workers against discriminatory practices.
- Evaluate how the legal protections present in the workplace differ for employee and independent contractors.
Cite a minimum of two references for the four content areas taken from a business or legal resource. At least one reference must be from the University Library.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment as a Microsoft® Word document. Reference: Cheeseman, H.R. (2016). Legal Environment of Business Online Commerce, Business Ethics, and Global Issues (8th ed.). Retrieved from University of Phoenix eBook Collection database. Please follow grading rubric, and make sure you follow.
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Explanation & Answer
Attached.
Agency and Employment Law – Outline
Thesis statement: The paper requires to utilize the SWOT (Strengths, Weaknesses,
Opportunities, and Threats) analysis in answering given questions about agency and
employment law.
I.
Introduction and Analysis of the impact a principal and agent creates on the business and its
employees.
II.
Well-connected overview and analysis of a comparison on how the express, implied, and
apparent authority created by the principal and agent impacts equal opportunities for
employees.
III.
Identified Discussion of laws protecting workers against discriminatory practices.
IV.
Evaluation of how the legal protections present in the workplace differ for employee and
independent contractors.
Running head: AGENCY AND EMPLOYMENT LAW
Agency and Employment Law
Name
Institution
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AGENCY AND EMPLOYMENT LAW
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Agency and Employment Law
The principal-agent problem in business advances when a principal crafts an environment
in which an agent's motivations do not align with that of the firm. The principal should create
incentives for the agency to guarantee that they act according to the first desires. Aforementioned
includes everything from the business financial incentives to evasion of the business information
asymmetry. In an organizational context, the principal-agent problem relates to how the company
inspires its front-runners and employees to make appropriate decisions about the benefits of the
company’s advancement rather than in their development (Anderson, 1985).
In a bid to embolden agents to perform in the principal’s welfares, the business has to use
all incentives possible such as the profit sharing, business promotions, and target-based
compensation. Aforementioned is a significant impact on the market incentives. The
employment agreements themselves are focused on aligning the objectives and needs of the
employee and employer to alleviate the principal-agent problem which may impact primarily on
the business as early as possible. If an agent procures a personal property for the firm using the
principal’s funds, it may get trailed into the hands of a third party, and though innocent, and
having no notification of the right of the principal, who procured for value, can cause a
significant loss to the enterprise (Cheeseman, 2016).
The express, apparent and implied authority created by both principal and agents owes
the employee some liabilities too regarding equality in the employee opportunities. These modes
of authority may get characterized in as the contract and tort liabilities caused by the agents and
principals. The apparent influence gets seen in the contract duties where the principals and the
agents hold the responsibility to warn the employees of hazards allied with their jobs or those
available in other opportunities (Cheeseman, 2016). Also, they have the under the authority, the
AGENCY AND EMPLOYMENT LAW
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agents and principals help to avoid the interference with the employee job performance,
rendering accounts of money due to the business to provide a favorable working environment to
the worker, and also to indemnify the employee for related business expenses according to the
company policies.
On the other hand, express authority impact on the employees ‘equal opportunities
through the tort duty owed by the principal to the employee through the business. Another is the
primary statutorily imposed authority that provides employees’ compensation for the injuries
sustained in their line of duty (Hill & Jones, 1992). In reaction to these influences that often
exonerate ...